The shares of IDBI Bank jumped over 9% after ET Now first reported the story on Wednesday. The stock closed at 38.35 rupees a piece, up 5% on the Bombay Stock Exchange.
In a statement on Wednesday, the central bank said that the performance of IDBI Bank was reviewed by the Board for Financial Supervision (BFS) of RBI in its meeting held on February 18, 2021. It w
The Reserve Bank of India (RBI) has taken out IDBI Bank from Prompt Corrective Action (PCA) framework.In a statement on Wednesday, the central bank said that the performance of IDBI Bank was reviewed by the Board for Financial Supervision (BFS) .
IDBI Bank was placed under the so-called PCA framework in 2017 over its high bad loans and negative return on assets, at a time when Indian lenders battled record levels of soured assets, prompting the RBI to tighten thresholds.