INSUBCONTINENT EXCLUSIVE:
Rakesh Sharma said by phone
ratio, Indian lenders are stepping up efforts to recover delinquent debt after the Reserve Bank of India announced tougher rules
bad-loan ratio narrows and profits rise, Sharma said
Banks sanctioned by the regulator are restricted from lending and expanding their network while they mend their balance sheets
about Rs 10 billion by selling its holding in National Stock Exchange and National Stock Depository over the next month, the chief executive
According to Sharma, the bank will also complete the sale of its insurance and mutual fund units in 2019.
Shares of IDBI Bank rose 4 per
It was the best performer on the 12-stock Nifty PSU Bank Index, which gained 2.6 per cent.
Sharma also shared his views on the Iran payments
business and capital raising
Comments in the following QA have been edited and condensed:
Will IDBI consider raising capital this year
The bank will raise tier I and
We will tap the public market to raise these funds and LIC will participate in that round to retain their majority stake in the bank
We would be coming into the market around September after our profit trajectory improves.
Why is IDBI getting into the Iran oil payments
Now, the government has allowed IDBI Bank also to route these payments
We are working out the processes and by March-end, we should start processing these payments
