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In an effort to identify potential stress in its loan book, Life Insurance Corporation of India (LIC) owned IDBI Bank has commissioned a detailed audit of its loan assets.
Sources with knowledge of the development say, audit firm KPMG has been appointed for this process and a final report is expected to be submitted to the bank’s board in the coming weeks.
It is also gathered that the audit report may likely form the basis of valuations for Government of India’s stake sale in the bank.
Responding to an email sent by Business Standard, the bank's spokesperson, however, said, “The
