Cabinet clears over Rs 9,000 crore capital infusion in IDBI Bank

New Delhi: The government on Tuesday approved over Rs 9,000 crore capital infusion in IDBI Bank with a view to increasing the lender’s capital base.

The Union Cabinet has cleared re-capitalisation of IDBI Bank with one-time infusion of funds by both the government and the LIC, Information and Broadcasting Minister Prakash Javadekar told reporters here.

Out of Rs 9,000 crore, the government will provide Rs 4,557 crore as one-time re-capitalisation to IDBI Bank, he said.

Besides, he said, LIC will infuse Rs 4,700 crore.