IDBI aims at Rs 1,50,000 cr biz in FY06

Industrial Development Bank of India (IDBI) is aiming at a business of Rs 1,50,000 crore during the current fiscal.

"The bank expects business - deposits, advances and borrowings - to touch Rs 1,50,000 crore by March 2006 as against about Rs 1,30,000 crore in the previous fiscal," V P Shetty, CDM of IDBI, said today.

IDBI is planning to enhance its retail portfolio by Rs 10,000 crore and has set a target for project finance at Rs 16,000 crore, he added.

Shetty ruled out any rise in interest rates in the immediate future. "However, the rates could go up by 0.25-0.50% in the next six months due to inflation," he said.