by Not Zero | 11:22 pm

IDBI Bank has formed a division to coordinate recovery on stressed loans, especially the big accounts. The Bank says it aims to recover and upgrade at least Rs 5,000 crore of such debt in the current financial year, ending March 2018. To control cost, it will also curb staff hiring for at least a year and reduce outsourcing. And, shift back-office functions located in prime premises.
-Business Standard

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