IDBI Bank sells property at Bandra-Kurla Complex to Sebi for Rs 10 billion
It has been trying to offload non-core assets and investments, to raise money for meeting the Basel-III norms on capital adequacy
 "IDBI Bank sells property at Bandra-Kurla Complex to Sebi for Rs 10 billion")
premium
Government-owned IDBI Bank has sold its office property at Bandra-Kurla Complex, a business district here, to the Securities and Exchange Board of India for a reported Rs 10 billion.
It has been trying to offload non-core assets and investments, to raise money for meeting the Basel-III norms on capital adequacy.
IDBI has also sold its stake in Clearing Corporation of India, Small Industries Development Bank and NSDL e-Governance Infrastructure.
That apart, in response to reports about an earlier pisciculture loan fraud, IDBI said this was detected and the Reserve Bank of India told in 2013.
All the loans identified as fraudulent had been fully provided for, with no further impact on profitability or the balance sheet.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%