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Private sector lender IDBI Bank is planning to invest Rs 600 crore to Rs 700 crore in the bank’s information technology and digital lending business in 2023-24, said Rakesh Sharma, Managing Director and Chief Executive Officer (MD and CEO). This is part of the ongoing expansion plans in these verticals, he said.
The bank surpassed the recovery target it set last year and is looking at recovering more than Rs 4,000 crore worth of bad loans in FY24.
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