IDBI Bank

IDBI Bank hikes FD rate to 7.85% for 444-day tenure to garner more deposits

With an aim to garner more deposits, IDBI Bank on Tuesday increased its fixed deposit rate to 7.85 per cent for 444-day tenure for a limited period. The bank now offers a peak rate of 7.85 per cent and 7.75 per cent per annum on tenures of 444 days and 375 days, respectively, IDBI Bank said in a statement. This enhancement makes the Utsav Fixed Deposit an even more compelling option for customers seeking higher yields, it said. This offer is valid till September 30, 2024, it said, adding, customers can open an Utsav Fixed Deposit conveniently through the bank's website or mobile banking application or at any branch of the bank. Besides this, IDBI Bank continues to offer competitive rates on other special tenures under the Utsav Fixed Deposit scheme. The 700-day tenure offers a peak rate of 7.70 per cent, while the 300-day tenure provides 7.55 per cent, it said. Both Finance Minister and RBI Governor have expressed concern over slow pace in deposit growth as compared to credit ...

IDBI Bank increases interest rates on Utsav FD Scheme to peak 7.85%

Deposits with 444-day tenure will earn 7.85 per cent interest per annum, while those opting for a 375-day term can enjoy a 7.75 per cent annual return

IDBI Bank stock gains 3% as RBI okays 3 bidders for majority stake sale

The finance ministry is likely to provide private data room access to potential bidders of IDBI Bank as soon as next week after it received a fit and proper nod for three suitors from the RBI.

IDBI Bank potential bidders likely to get data room access next week

This will allow interested bidders to obtain detailed financial information about the bank to carry out due diligence

IDBI Bank investors receive security clearance; await RBI approval

Central government and LIC are set to divest 61% stake amid strategic disinvestment drive. The govt aims to generate Rs 50,000 crore through asset monetisation this fiscal year

IDBI Bank share crosses Rs 100-mark after a gap of 10 years; Check details

IDBI Bank share price: The market capitalisation of IDBI Bank hit a record high of Rs 1.12 trillion today

IDBI Bank Q1 results: Net profit up 40% on sharp dip in provision, taxes

NII down 19% year on year

IDBI Bank stake sale: RBI vetting process in last leg, report by month-end

The central bank's clearance will be seen as an important milestone for the bank's strategic disinvestment

Union Budget 2024 to signal next steps for IDBI Bank privatisation

IDBI Bank's market capitalisation is around Rs 95,000 crore. The government could secure close to Rs 29,000 crore for the sale of 30.5% of its 45.5% stake

Go First heads towards liquidation after failed EaseMyTrip, SpiceJet bids

Go First owes creditors - Central Bank of India, Bank of Baroda, and IDBI Bank - around Rs 6,200 crore

Reliance Power becomes debt free on standalone basis; clears pending dues

Reliance Power has become a debt-free company on a standalone basis clearing all outstanding dues to lenders, sources said. The company had a debt of around Rs 800 crore, which has been repaid to banks, they said. Between December 2023 and March 2024, Reliance Power signed multiple debt settlement agreements with various banks, including IDBI Bank, ICICI Bank, Axis Bank and DBS. The company has now repaid the entire debt to these banks, sources said. As a result of that, Reliance Power, on a standalone basis, has become a debt free company. In December 2023, Reliance power sold the development rights of its proposed 1,200 megawatt hydro-electric project in Arunachal Pradesh to THDC for Rs 128 crore. In March 2024, the company sold its 45 MW wind energy project in Vashpet, Maharashtra to JSW Renewable Energy for a consideration of Rs 132 crore. Proceeds from the sale of these projects were used to retire debt. With participation of over 38 lakh retail investors, Reliance Power has

IDBI Bank to increase tech spend to 8-9% of operating expenditure

IDBI Bank has 'immediate plans to invest in digital solutions, analytics, AI', says CEO

IDBI Bank stake sale: FinMin in talks with RBI to hurry vetting process

Govt hopes to conclude transaction by FY25-end

Stocks to watch on May 8: IRB Infra, IGL, Sonata Software, IDBI Bank, SJVN

Stocks to watch on May 8, 2024: IRB Infrastructure Developers on Tuesday reported a 45 per cent rise in consolidated net profit to Rs 188.87 crore for the March 2024 quarter

IDBI Bank gets Rs 2.97 crore GST demand order from Dehradun officials

IDBI Bank on Tuesday said it has received a GST demand order of Rs 2.97 crore along with interest and penalty for alleged excess availment of input tax credit (ITC). In a regulatory filing, the private sector bank said the Dehradoon state tax department has issued an order under the GST rules pertaining to 2018-19 fiscal for alleged excess availment and utilisation of ITC. The order includes a tax demand of Rs 1.42 crore as well as interest and penalty of Rs 1.41 crore and Rs 0.14 crore, respectively. "The bank is evaluating appropriate legal remedy, including appeal, as per law," IDBI Bank said. Shares of IDBI Bank were trading at Rs 85.41, down 3.82 per cent over previous close on the BSE.

IDBI Bank Q4 results: Net profit jumps 44% to Rs 1,628 cr, NII rises 12%

Private sector lender IDBI Bank on Saturday reported a 44 per cent jump in net profit at Rs 1,628 crore in the March quarter of financial year 2023-24. In comparison, the bank had posted a net profit of Rs 1,133 crore in the year-ago period. Total income rose to Rs 7,887 crore in the period under review, from Rs 7,014 crore in the January-March period of fiscal year 2022-23. For the 2023-24 fiscal, net profit grew 55 per cent to an all-time high of Rs 5,634 crore. In 2022-23, the profit was at Rs 3,645 crore. Total income for fiscal year 2023-24 was at Rs 30,037 crore, up from Rs 24,942 crore in financial year 2022-23. Net Interest Income improved by 12 per cent in the March quarter to Rs 3,688 crore, as against Rs 3,280 crore in the fourth quarter of 2022-23. Net non-performing assets (NPA) ratio improved to 0.34 per cent as on March 31, 2024, as against 0.92 per cent as on March 31, 2023. The board of IDBI Bank has proposed a dividend of 15 per cent subject to shareholders'

Canada-based firm Fairfax offers all-cash deal to acquire IDBI Bank

IDBI Bank's disinvestment process began in October 2022, with LIC and the government selling their respective shares of 30.24% and 30.48%

IDBI Bank is offering 7.5% interest on FDs with a 300-day tenor

The Utsav Callable FD scheme is valid up to March 31, 2024.

Govt to complete IDBI Bank strategic sale in FY25: Dipam Secy Pandey

The government expects to complete the strategic sale of IDBI Bank in the next financial year, a senior official said. In an interview to PTI TV, the Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said the process of privatisation of IDBI Bank is on and once the regulator clearance is obtained, financial bids will be invited. Asked if the strategic sale would be completed in the next fiscal, Pandey said "Yes, of course". The government along with LIC is selling nearly 61 per cent stake in IDBI Bank and had in October 2022, invited bids from buyers. In January 2023, DIPAM said it had received multiple Expressions of Interest (EoI) for buying a stake in IDBI Bank. The bidders who have shown interest through EoI have to get two sets of clearances -- one from the home ministry for security clearance and the other from the Reserve Bank of India (RBI) for meeting the 'fit and proper' criteria.

South Indian, IDBI Bank gain up to 14%; hit multi-yr highs post Q3 results

IDBI Bank surged 14% to hit over five-year high of Rs 86.97; while South Indian Bank hit a fresh six-year high of Rs 33.70 on soaring 9% backed by heavy volumes.