IDBI Ltd plans to raise billion rupees in debt

Kolkata, Aug 16: The state-run IDBI Ltd. plans to raise billion rupees in debt this fiscal, Chairman and Managing Director Yogesh Agarwal today said.

While talking reporters on the sidelines of the banking conclave, Mr Agarwal ruled out raising funds through equity dilution and said the company's capital adequacy ratio was more than 14 per cent, higher than 9 per cent required by the central bank.

IDBI has applied to the central bank for opening branches in Moscow, Singapore and Bahrain. It was also expecting retail lending to climb to 50 per cent of its total loans from 10 per cent at present, Mr Agarwal said.

UNI