IDBI BANK READIES PLAN FOR TURNAROUND

IDBI Bank Ltd on Thursday said it has formulated a comprehensive turnaround strategy to recover loans, check slippages and strengthen its capital base. “Given the stress in the corporate sector, the bank will restrict growth in the corporate loan book and focus on increasing retail and priority sector asset base. This will help the bank to reduce risk weighted assets and improve capital adequacy ratio in the short term,” IDBI Bank said in a press release. The governmentowned lender is planning to raise additional capital in the medium term, over and above the ₹1,900 crore that it received from the government under Indradhanush programme.