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Chennai, Dec. 21 - IDBI is avoided, Rs 750 crore of provisions due to a transfer of Rs 9,000 crore-odd non-performing Assets (NPAs) to the property Gestressten-stabilization fund, which IDBI chairman and chief executive officer, Mr. Damodaran, said on Monday, Business Line.
In an informal chat on the sidelines of a conference organised by the Institute for Financial Management and Research (IFMR), Mr. Damodaran explained the ins and outs of the “unique” model for the management of NPAs.
Under the proposed regulation, Rs 9000 crore of NPAs shall comprise books IDBI, in the stabilization Gestresste Assets Fund. IDBI get, in return, in 20 years, without interest, the amount in value of the bonds. The loans are repaid once the non-performing loans are void.
Mr. Damodaran pointed out that nowhere in the world has a sale of loans instead of the full value of the loan. IDBI has 100 rupee in the future. ”
He said that the exchange ratio for the merger of IDBI and IDBI Bank would be tried next month.
Given that this is a merger of two banks (IDBI now become bank), it is not necessary to the High Court order of approval, Mr. Damodaran took note
Tags: banks, business line, chennai, chief executive officer, crore, damodaran, financial management, idbi bank, IFMR, ins and outs, merger, non performing assets, npas, provisions, rupee, sidelines, stabilization fund |
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Dec. 22 - CHENNAI, India - The exchange ratio for the merger of IDBI and IDBI Bank to be decided at the beginning of January, IDBI Chairman and Managing Director M Damodaran said here Tuesday.
Mr. CMD Damodaran said that the merger was probably easier when he was in charge of the ICICI-ICICI Bank, because IDBI had converted into a bank. "A merger between the two banks to go by the RBI. IDBI If a term has been a financial institution, the merger would have had to go through two high courts," he said.
Commenting on Ting assets Gestressten the Stabilization Fund
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