According to persons with knowledge of the bank, IDBI Bank has engaged EY India as the process adviser to locate purchasers for its portfolio of Rs 4,000 crore in distressed debt, which is housed under the Stressed Assets Stabilisation Fund (SASF). According to the persons, EY has been ordered by the bank to finish the deal within six and a half months.Twenty years ago, when the term-lending organisation IDBI Ltd. amalgamated with its subsidiary IDBI Bank to become a commercial bank, a special-purpose vehicle known as SASF was established.In 2004, the government granted IDBI permission to temporarily transfer its distressed loans to IDBI Trust, which took over the management of Rs 9,000…
Read More…
IDBI Bank Hires EY To Locate Purchasers For Rs 4000 Crore Worth Debt
