IDBI Bank sells property at Bandra-Kurla Complex to Sebi for Rs 10 billion

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.