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Govt. examining merger of IDBI, IDBI Bank

JAIPUR JUNE 27. The Government is examining a proposal for the merger of IDBI with IDBI Bank, the Union Minister of State for Finance, Anandrao Adsul, said here today.

A Standing Committee of Finance Ministry had been looking at the possibility of merger of the financial institution's operations with retail banking business of IDBI Bank, Mr. Adsul, who is in charge of expenditure, banking and insurance departments, told reporters here.

About non-performing assets (NPAs) of public-sector banks, the Minister said due to the Securitisation Act and one time settlement scheme, the NPAs had declined from Rs. 56,000 crores to Rs. 18,000 crores. — PTI

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