IDBI Bank sets up NPA management and credit monitoring department
IDBI Bank has created a separate NPA management and credit monitoring group at head office, staffed with experienced staff for focused case review, including working with other banks to resolve assets. The RBI has placed the lender under Prompt Corrective Action with restrictions on fresh loans and dividends. IDBI also expects improved bond rates, divestment gains and government capital, while its 2016-17 annual loss widened to Rs 5,158 crore.