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Classification of IDBI Bank |
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Re-categorization of IDBI Bank Ltd. as a Private Sector Bank
IDBI Bank Limited has been categorized as a ‘Private Sector Bank’ for regulatory purposes by Reserve Bank Of India with effect from January 21, 2019 consequent upon Life Insurance Corporation Of India acquiring 51% of the total paid-up equity share capital of the bank. [Press Release: 2018-2019/2194 Dated March 14, 2019]
Balances held by State / Central and Urban Co-operative Banks with IDBI Bank - Treatment for CRR purposes (vide RBI email dated March 15, 2019)
Clarification issued by RBI regarding CRR dispensation for deposits maintained by co-operative banks with IDBI Bank
Department of Cooperative Bank Regulation, Reserve Bank of India has issued a clarification that for the purpose of maintenance of cash reserves (CRR) by non-scheduled co-operative banks in terms of Section 18 read with Section 56 of the Banking Regulation Act, 1949, the ‘net balance in current accounts’ shall, in relation to a co-operative bank, continue to include, inter alia, the excess, if any, of the aggregate of the credit balances in current account maintained by that co-operative bank with IDBI Bank Ltd over the aggregate of the credit balances in current accounts held by IDBI Bank Ltd with such co-operative bank, till further instructions.
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