Government to Provide Rs. 3000 crore Bailout Package to IDBI Bank

Posted on:27 Feb 2017 09:39:56
Government to Provide Rs. 3000 crore Bailout Package to IDBI Bank
27 February 2017 Current Affairs: The government has announced to bailout IDBI Bank with Rs. 3,000-crore capital infusion to enable the bank to have better capital-adequacy ratio and further enhance credit growth.

The financial assistance will help the bank to maintain stability.

IDBI Bank’s lending portfolio is mostly in corporate segment and that is one of the major reasons for increase in its bad loans.

In December quarter of 2016, IDBI had a net loss of Rs.2,255 crore against Rs.2,184 crore in December quarter 2015.

Similarly, the Gross Non-Performing Assets (GNPAs) rose to Rs. 35,245 crore at December end 2016 from Rs. 30,134 crore in the previous quarter.

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