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Cabinet approves Rs 9,300 cr capital infusion in IDBI Bank

Tuesday, September 3, 2019, 5:42 PM

The government approved Rs.9,300-crore fund infusion in IDBI Bank to help improve the bank's capital base and turn it profitable. Briefing media about Cabinet decisions, Information and Broadcasting Minister Prakash Javadekar said it will help in completing the process of IDBI Bank's turnaround and enable it to return to profitability and normal lending, and giving government the option of recovering its investment at an-opportune-time.
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IDBI Bank brings paperless account facility for NRIs

Tuesday, April 16, 2019, 6:22 PM

The Non-Resident Indians (NRIs) living in nearly 40 countries will now be able to open account in IDBI Bank without submitting paper documents, the lender said on April 16. IDBI Bank has launched 'NRI-Insta-Online' account opening process for NRIs residing in Financial Action Task Force (FATF) member countries, it said in a release.
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RBI imposes penalties on IDBI, Dena Bank

Sunday, March 3, 2019, 7:11 AM

The RBI has imposed a monetary penalty of Rs.3-crore on Union Bank, Rs.2-crore on Dena Bank, and Rs.1-crore each on IDBI and the SBI for non-compliance with various directions, regulatory filings said Saturday. In a filing to the BSE, Dena Bank said the Reserve Bank has imposed a penalty of Rs.20-million on it for non-compliance with the directions issued on February 20, 2018.