BREAKING: Cabinet clears over Rs 9,000 crore capital infusion in IDBI Bank
The Union Cabinet on Tuesday cleared over Rs. 9000 crore capital infusion in IDBI Bank in a bid to increase the lender's capital base.
The Union Cabinet has cleared recapitalisation of IDBI Bank with one-time infusion of funds by both the government and the LIC, Information and Broadcasting Minister Prakash Javadekar told reporters today.
Out of Rs 9,000 crore, the government will provide Rs 4,557 crore as one-time re-capitalisation to IDBI Bank, he said. Besides, he said, LIC will infuse Rs 4,700 crore.
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