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IDBI Bank's board approves preferential issue of Rs 4,557 crore to government, Rs 4,743 crore to LIC

After this infusion, IDBI Bank expects to be able to subsequently raise further capital on its own and expects to come out of RBI`s Prompt Corrective Action (PCA) framework sometime next year.

Sep 19, 2019, 11:34 AM IST

IDBI Bank to get Rs 9,300 crore capital infusion from government, LIC

Of the total Rs 9,300 crore, LIC would give Rs 4,743 crore while the remaining Rs 4,557 crore has been proposed from government.

Sep 04, 2019, 12:35 PM IST

IDBI to receive Rs 9,300 cr capital to meet CAR

IDBI Bank shareholders -- the government and the Life Insurance Corporation (LIC) of India -- will infuse Rs 9,300 crore in the bank.

Sep 03, 2019, 18:21 PM IST

IDBI Bank introduces repo linked Suvidha Plus home loan and auto loan

The Suvidha Plus Home Loan and Suvidha Plus Auto Loan products will be offered to new customers having good credit score and minimum income of Rs. 6 lakh per annum.

Aug 30, 2019, 13:10 PM IST

IDBI Bank cuts MCLR by 5-10 bps across various tenors

The lender has reduced its one-year MCLR or the minimum lending rate to 8.95 per cent.

Jun 12, 2019, 15:21 PM IST

IDBI Bank narrows Q4 net loss to Rs 4,918 cr on lower bad loan provisions

The bank had reported a net loss of Rs 5,663 crore in the same period last year.

May 31, 2019, 11:02 AM IST

IDBI Bank to borrow up to Rs 4,000 cr via bonds next fiscal year

The borrowing would be comprised of Basel III-compliant tier-II bonds and senior bonds (not more than Rs 1,000 crore) by way of private placement during 2019-20, the bank said.

Mar 20, 2019, 12:48 PM IST

RBI categorises IDBI Bank as private sector lender

In January, LIC completed the process of picking up a controlling 51 per cent stake in the nearly crippled IDBI Bank.

Mar 15, 2019, 12:43 PM IST

IDBI Bank Q3 loss widens threefold to Rs 4,185 crore

The ownership of the bank has changed from the Government of India to LIC.

Feb 04, 2019, 15:35 PM IST

Moody's upgrades IDBI Bank's rating by a notch on LIC takover

The upgrade follows the Life Insurance Corporation acquiring 51 percent stake in the crippled lender which has around 32 percent of its assets as dud loans, thereby, improving its solvency.

Jan 24, 2019, 12:47 PM IST

LIC completes acquisition of 51% stake in IDBI Bank

IDBI Bank said its retail loan portfolio is expected to reach 50 percent by fiscal 2019-20.

Jan 21, 2019, 13:23 PM IST

LIC makes open offer to acquire 26% stake in IDBI Bank

The open offer has been made at a price of Rs 61.73 a share, which is in connection with LIC's acquisition of 51 percent controlling stake in IDBI Bank.

Dec 19, 2018, 11:20 AM IST

Govt not to participate in LIC's open offer in IDBI Bank

LIC's open offer to purchase 26 per cent shares of IDBI Bank opened on December 3 and will close on December 14.

Dec 04, 2018, 15:40 PM IST

Competition Commission approves LIC's majority stake buy in IDBI Bank

The deal would help the insurance behemoth to enter the banking space and would provide business synergies despite the IDBI Bank's stressed balance sheet.

Nov 28, 2018, 10:56 AM IST

IDBI Bank Q2 losses widen to Rs 3,602 cr on higher provisions

The bank had reported a net loss of Rs 198 crore in the year-ago quarter.

Nov 15, 2018, 13:19 PM IST

IDBI board approves issuance of preferential shares to LIC

The government has already approved the proposal of LIC to increase the stake in IDBI Bank.

Oct 04, 2018, 17:43 PM IST

LIC yet to seek open offer exemption for IDBI takeover: Sebi

On August 1, the Cabinet Committee of Economic Affairs also cleared the proposal under which the city-headquartered bank will become a subsidiary of LIC.

Sep 19, 2018, 13:49 PM IST

Cabinet nod for LIC to acquire controlling stake of IDBI Bank

Post the transaction, IDBI Bank would become a subsidiary of LIC and the insurer would have 51 percent stake.

Aug 02, 2018, 11:23 AM IST

LIC board nod for acquisition of up to 51% stake in IDBI Bank

Now the state-owned Life Insurance Corporation of India (LIC) will approach markets regulator Sebi.

Jul 16, 2018, 14:26 PM IST

IDBI Bank says 'no discussion' on Rs 13,000-cr capital infusion by LIC

IDBI Bank is saddled with huge amounts of bad loans and the government wants to revive the lender.

Jun 29, 2018, 18:25 PM IST