IDBI News

The Centre and the Life Insurance Corporation of India (LIC) plan to jointly offload a 60.72 per cent stake in IDBI Bank, which comprises 30.48 per cent held by the government and a 30.24 per cent share by the insurance giant.

IDBI Bank offers up to 7.85% on fixed deposits for select tenures, valid until September 30, 2024. SBI’s Amrit Kalash scheme provides 7.10%, with 7.60% for seniors. 

The bank's net interest income (NII) improved by 23 percent during the third quarter of the current fiscal to Rs 2,925 crore, as against Rs 2,383 crore in the same period last fiscal.

For auto loans, IDBI Bank has launched ‘i_zoomdrive’. IDBI Bank has introduced ‘i_learn’ education loans. IDBI Bank if offering home loans at attractive interest rates.

Investors will get a 4.8% interest rate on FDs maturing between 10 to 20 years. IDBI Bank is offering a 5.25% interest rate on FDs maturing between five years to 10 years. FDs maturing between one to three years will provide a 5.1% interest rate.

SBI is standing against the settlement proposal. The settlement will lead to a loss of Rs 4,700 crore in public money. Canara Bank has reportedly sold its exposure worth Rs 1,148 crore privately to IARC.

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

IDBI had approached the National Company Law Tribunal (NCLT) seeking extension of the corporate insolvency resolution process (CIRP) beyond the May 6 deadline as the proceedings are still underway to find a buyer for the Jaypee group's realty firm.

Last month, the insurance behemoth completed the acquisition of 51 percent controlling stake in IDBI Bank.

These PSBs reportedly have a cumulative loss of Rs 21,646.38 crore for the financial year 2017-18.

A report in a  leading national daily quotes sources within CBI and ED as that Mallya diverted funds to shell companies in seven countries including UK, France and Ireland.

Inflation data and developments arising from simmering tension between the US and North Korea will guide Indian equities' movement in a holiday-shortened week ahead, say experts.

Banking operations at IDBI Bank may be impacted on Tuesday as a section of its employees have given a strike call to press for their wage related demand.  

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The CBI on Monday four former executives of IDBI Bank including a former chairman of the bank in the alleged money laundering case involving beleaguered businessman Vijay Mallya.

With lenders such as SBI, PNB, Union Bank of India and IDBI slashing benchmark lending rate, India Inc on Monday said the move will act as a "booster dose" for the economy and propel consumption as lending may pick up significantly.

State-run IDBI Bank on Friday said it has reduced its marginal cost of funds based lending rate (MCLR) for various tenors, effective from January 1.

A Delhi court on Saturday cancelled the exemption granted to liquor baron Vijay Mallya from personal appearance in a case lodged for allegedly evading summons in connection with a FERA violation case.

Embattled Indian business tycoon Vijay Mallya today made a rare public appearance in the United Kingdom as he attended the Free Practice sessions ahead of Sunday's British Grand Prix, here.

India has not yet approached the UK for extradition of liquor baron Vijay Mallya and former IPL boss Lalit Modi, wanted by Indian investigators in multiple cases, External Affairs Minister Sushma Swaraj said on Sunday, as the ED is still to provide required documents to her ministry.