IDBI Bank gets NCLT nod to set off accumulated losses of Rs 45,396 cr

The bank will set off accumulated losses worth 453.96 billion rupees ($5.52 billion) while reducing its share capital. The plan to do the same had been disclosed by the bank in February 2021 and has now been approved by the NCLT, the bank said in a statement to stock exchanges.

from Banking/Finance-Industry-Economic Times https://ift.tt/PksUHKV