IDBI Bank News
IDBI Bank has been penalised for non-compliance with RBI's directions. RBI has clarified that the penalties are based on deficiencies in regulatory compliance. The fines are not intended to pronounce upon the validity of any transaction or agreement entered into by them with their respective customers.
The bank's final holding in NARCL and IDRCL will be 5 per cent and 9 per cent, respectively. The bank said it will invest cash of Rs 137.50 crore to acquire 5 per cent equity stake and Rs 135 crore to invest in the NCDs of NARCL. Besides, Rs 4.50 crore will be invested in tranches to acquire 9 per cent equity capital of IDRCL.