IDBI Bank seeks capital support from govt

State-owned lender IDBI Bank today said the government was considering capital support to the bank to boost up its capital.

The government of India is actively considering the bank's request for capital support and intends to infuse capitals funds in the bank by way of preferential allotment of equity, IDBI Bank informed the Bombay Stock Exchange (BSE).

Last year, the government had agreed to infuse Rs 3,119.04 crore. Post-capital infusion, the stake of the central government increased to 65.15% from 52.6%.

The was capital infused through preferential allotment of shares to the government of India.

The government has already made a provision to infuse Rs 6,000 crore in public sector banks in Budget of the current fiscal.

Source: Business Standard