India, Oct. 14 -- The Government of India has issued a release:
IDBI Bank Ltd. is a scheduled commercial bank regulated by the Reserve Bank of India (RBI). Due to its poor financial health, the Bank required repeated infusion of capital, initially provided by the Government of India and later by the LIC. On 5th May, 2017, the Reserve Bank of India (RBI) put the IDBI Bank under the Prompt Corrective Action Framework and imposed several restrictions in view of its non-performing assets and losses incurred by the Bank. After considering the improvement in the Bank's financial health, the RBI later, vide its letter dated 10th March, 2021, lifted the restrictions imposed on the IDBI Bank subject to certain conditions and continuous monitoring....