IDBI receives draft scheme of UWB's amalgamation

Mumbai, Sep 13: IDBI has received the draft scheme of amalgamation of United Western Bank (UWB) with IDBI Ltd from the Reserve Bank of India (RBI).

A IDBI release here today said the management is currently examining the Scheme. The board meeting is scheduled for September 21. The draft scheme will be put up to the board for its considered views and suggestions, which will be taken up with the central bank.

The bank's management will keep all stakeholders suitably informed at the appropriate time, the release added.

UNI