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| Worried by IDBI Bank's poor health, RBI writes to Finmin | | | Agencies
NEW DELHI: The Reserve Bank of India (RBI) has written to the finance ministry expressing concern over what it said was the poor financial position of state-run IDBI BankBSE -5.25 % and called on the government to take remedial action, according to a person with knowledge of the development.
The letter, sent earlier this month, pointed to several shortcomings, including the recognition of non-performing assets. “It was found out during our inspection that the bank’s mechanism forNEW DELHI: The Reserve Bank of India (RBI) has written to the finance ministry expressing concern over what it said was the poor financial position of state-run IDBI BankBSE -5.25 % and called on the government to take remedial action, according to a person with knowledge of the development.
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