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IDBI Bank sells 0.72% stake in NSE

Thursday, October 31, 2019, 7:20 PM

IDBI Bank said it has sold over 35 lakh equity shares held in the NSE for an undisclosed amount. IDBI Bank has sold an aggregate 35.40 lakh equity shares constituting 0.72% out of 1.5% of the paid-up capital of National Stock Exchange of India Ltd, it said in a regulatory filing. The bank has not provided details about the value of the stake sale.
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Resolution delay forces banks to put NPAs on sale

Tuesday, October 22, 2019, 4:46 PM

Banks have been forced to put nonperforming assets (NPAs) worth Rs.40,000 crore up for sale in sectors such as power, roadways and telecom in the first half of the fiscal year to September because of delays in the resolution process under the Insolvency and Bankruptcy Code(IBC). The prescribed timeline for IBC resolution has been derailed by various stakeholders challenging the process in court.
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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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