Govt asks IDBI Bank to rejig its senior management like other PSBs

Much of IDBI Bank's special status was stripped off a few years ago when govt said the rank of the IDBI MD and CEO would be same as those of other banks

The government has asked IDBI Bank to align with other nationalised banks in terms of designations and compensation, a move that will take away the last few strands of privilege the bank and its former avatar as a term lending institution has enjoyed since the 1960s.
 

Although IDBI Bank is considered a public sector bank, it is designated as an “other public sector” bank because of its transformation from a term lending institution. 
 

The chairman and managing director of IDBI Bank was treated on a par with those of the State Bank of India (SBI), Life Insurance Corporation of India