The Central Bureau of Investigation (CBI) has closed a case of disproportionate assets against former IDBI Deputy Managing Director BK Batra. Batra was being investigated for allegedly amassing Rs 1.69 crore of assets disproportionate to his known source of income during his tenure at the bank from 2008 to 2016. The CBI had initiated the probe after finding credit entries of Rs 60 lakh in Batra’s bank account, which were suspected to be “accommodation entries” routed through shell companies.

However, during the investigation, it was found that Batra had sold his flat to a Gurugram resident and received an advance of Rs 60 lakh for its sale. This amount was a significant chunk of the disproportionate assets calculation. When removed, the alleged questionable assets would be less than 10 percent of the total legal income, below the threshold fixed by the Supreme Court for a probe. As a result, the CBI decided to file a closure report in the matter, which was recently accepted by a special court.

Batra is still under investigation in a Rs 950 crore loan fraud case against Kingfisher Airlines, which was owned by fugitive liquor baron Vijay Mallya. The CBI has alleged that Batra colluded with Mallya in sanctioning loans to the airline without following due diligence procedures. Batra was arrested in 2017 in connection with the case and was listed as accused number 8 in the CBI chargesheet. His application seeking discharge from the case was rejected by a special court in Mumbai last year.

The CBI has alleged that Batra’s responsibility in the Kingfisher Airlines scam is “second only to the CMD”. The agency has accused Batra of being involved in all three sanctions to the airline, which turned into non-performing assets and were later declared as fraud. The closure of the disproportionate assets case against Batra does not affect the ongoing investigation into the Kingfisher Airlines loan fraud case. The CBI will continue to investigate Batra’s role in the scam, and he may still face charges and penalties if found guilty.

IDBI Bank has revised its fixed deposit interest rates, effective from September 19, 2025. The bank offers FD interest rates between 3% and 6.55% for general citizens and between 3.50% and 7.05% for senior citizens, for tenures ranging from 7 days to 10 years. The interest rates for various maturity slabs are as follows: 3% for 7-30 days, 4.5% for 46-60 days, 5.5% for 91 days to 6 months, and 6.55% for 1 year to 2 years.

The bank also offers special fixed deposit schemes, including the IDBI Utsav Fixed Deposit, which has been extended until March 31, 2026. This scheme offers tenures of 444, 555, and 700 days, with interest rates ranging from 6.50% to 6.65% for general citizens and 7.00% to 7.15% for senior citizens.

Additionally, IDBI Bank has introduced the IDBI Chiranjeevi-Super Senior Citizen FD, exclusively for resident individuals aged 80 years and above. This scheme offers interest rates of 7.25% for 444 days, 7.30% for 555 days, and 7.15% for 700 days.

The bank charges a 1% penalty on the applicable rate for deposits closed prematurely, involving both partial withdrawals and sweep-ins. The interest payable on prematurely withdrawn deposits will be the rate applicable for the amount and the period for which the deposit remained with the bank.

Other notable fixed deposit schemes offered by IDBI Bank include the Tax Saving FD, which offers a 5-year tenure with an interest rate of 6.35% for general citizens and 6.85% for senior citizens, and the Vasundhara Green Deposit, which offers a 1111-day tenure with an interest rate of 6.35% for general citizens and 6.85% for senior citizens. Overall, IDBI Bank’s revised fixed deposit interest rates aim to provide competitive returns to its customers, while also offering specialized schemes for senior citizens and super senior citizens.

The IDBI Bank stake sale is approaching a significant milestone, with financial bids expected to be submitted in the third quarter of FY26. The Indian government and Life Insurance Corporation (LIC) of India, the bank’s majority owners, are keen to divest their stake in the lender. The stake sale is expected to be one of the biggest banking transactions in the country.

The government and LIC together own around 94% of IDBI Bank, and the plan is to sell a majority stake to private investors. The sale process is being managed by the Department of Investment and Public Asset Management (DIPAM), which has already invited expressions of interest (EOIs) from potential bidders. Several prominent players, including private equity firms and banks, have shown interest in acquiring a stake in IDBI Bank.

The stake sale is expected to be completed through a competitive bidding process, with multiple rounds of bidding. The government and LIC are looking to raise a significant amount from the sale, which will help to boost the country’s economy. The exact valuation of the stake sale has not been disclosed, but it is expected to be one of the largest banking transactions in India.

The sale of IDBI Bank is part of the government’s broader plan to divest its stake in public sector enterprises and raise funds for developmental projects. The government has set a target of raising Rs 65,000 crore from disinvestment in the current fiscal year, and the IDBI Bank stake sale is expected to be a significant contributor to this target.

The sale process is expected to gain momentum in the coming months, with the submission of financial bids in the third quarter of FY26. The bidders will be required to submit their financial bids, which will be evaluated by DIPAM and other stakeholders. The winning bidder will be selected based on the highest bid price and other criteria, such as the bidder’s experience and expertise in the banking sector.

Overall, the IDBI Bank stake sale is a significant development in the Indian banking sector, and its outcome will be closely watched by investors, analysts, and policymakers. The sale is expected to have a positive impact on the country’s economy, as it will help to raise funds for developmental projects and promote private sector participation in the banking sector.