IDBI Bank CBI probes IDBI Bank loan to Kingfisher Airlines There was no need for the bank to take the exposure outside the consortium when already other banks loans were getting stressed, says CBI The Central Bureau of Investigation (CBI) on Saturday registered a preliminary enquiry against IDBI Bank Ltd and Kingfisher Airlines Ltd, with an intention to look into IDBI Bank’s decision to sanction Rs.950 crore to Kingfisher Airlines at a time when Kingfisher had a negative net worth and negative credit rating. “It was the first exposure to the bank. There was no need for the bank to take the exposure outside the consortium when already other banks loans were getting stressed,” said a CBI official. A senior IDBI executive, requesting anonymity, said that CBI had asked for certain specific information and the bank had provided the same. “However, we do not know about any investigation as of now,” the executive added. Read more at: livemint/Companies
Posted on: Sat, 09 Aug 2014 17:01:01 +0000
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