IDBI Bank to divest non-core investments

Chennai, Feb 21 (IANS) The Board of Directors of IDBI Bank on Tuesday approved sale of the bank’s non-core investments.

In a regulatory filing in BSE, the bank said its Board has approved in-principle a proposal to divest some of its non-core investments subject to compliance with all applicable laws and regulations and subject to final approval to be obtained for each transaction by Delegated Authority.

The bank also said the Board did not discuss the issue of issuing capital at its meeting as the agenda could not be submitted for discussion.

According to IDBI Bank, the issue of capital may be discussed in a subsequent Board meeting.