IDBI Bank

IDBI Bank News

IDBI Bank to hire around 950, months after LIC takeover

Among the vacancies advertised by the lender are those for positions of 515 assistant managers, 309 executives on a contractual basis, 120 specialist cadre officers and 40 chartered accountants.

IDBI Bank recruitment 2019: Apply for managerial posts for CAs, salary up to Rs 53,900

IDBI bank recruitment 2019:The application process will begin from March 26 and conclude on April 8, 2019.  Interested candidates can apply at the official website, idbi.com.

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RBI categorises IDBI Bank as ‘private sector lender’

“IDBI Bank has been categorised as a ‘private sector bank’ for regulatory purposes by Reserve Bank of India with effect from January 21, 2019 consequent upon LIC acquiring 51 per cent of the total paid-up equity share capital of the bank,” the RBI said in a statement.

IDBI Bank cuts MCLR by 5 bps

IDBI Bank’s overall advances fell by 16.8 per cent year-on-year (y-o-y) to nearly Rs 1,525 crore as of December 2018.

IDBI Bank mulls proposal to extend tenure of current MD-CEO by three years

A joint task force has been constituted, chaired by the senior management of IDBI Bank and LIC, to chart out the future roadmap, both for the bank as also for the associate companies.

IDBI Bank two quarter losses wipe off 65% of investment by LIC

LIC had taken special permission from insurance regulator IRDAI to invest 51 per cent stake in IDBI Bank as the current rules allow only up to 15 per cent stake by an insurer in a listed company.

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IDBI may now become LIC IDBI Bank or LIC Bank

Last month, the insurance behemoth completed the acquisition of 51 per cent controlling stake in IDBI Bank, marking the entry of more than 60 years old state-owned insurer into the banking space.

‘IDBI Bank will remain promoter of IDBI Federal Life Insurance’

The Irdai Act does not permit one promoter having two licenses as the LIC, which acquired 51 per cent in IDBI Bank through multiple deals, is also the promoter of IDBI Federal Insurance.

Delhi HC dismisses appeal against LIC move to acquire 51% stake in IDBI

The IDBI, in which the government holds 85.96 per cent stake, had posted a net loss of Rs 2,409.89 crore in the quarter ended June 2018. It had posted a gross non-performing asset (NPA) of about Rs 57,807 crore.

PSBs’ second quarter provisions 1.5 times their operating profit

In the September quarter of FY19, the same set of public-sector banks (PSBs) had notched up a provisioning burden worth 1.4 times their operating profit.

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