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Capital infusion plan worth Rs. 9,300 crore for IDBI Bank approved by the cabinet

The Cabinet approved the IDBI Bank capital raising scheme with the government and LIC one-time infusion of funds. Capital infusion worth Rs 9300 cr was approved by the cabinet. This plan will place IDBI Bank in the center of ordinary banking operations. IDBI Bank stocks jumped to 10.84% in intraday trading following the release. The govt will provide IDBI Bank with a one-time capital raising of Rs. 4,557 cr.