IDBI Bank to be recapitalised with infusion from govt, LIC

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Cabinet has approved the recapitalization of IDBI Bank with a one-time infusion of funds by both Government and LIC.

It Will help both IDBI and LIC and shows the Government's commitment to take banking to a sound level.

Addressing a Press Conference in New Delhi on cabinet decisions, Minister of Information & Broadcasting said that IDBI Bank will resume all the facilities of housing loans, auto loans, etc.

Cabinet Committee on Economic Affairs has approved a mechanism for revision of ethanol price for supply to Public Sector Oil Marketing Companies for procurement of ethanol from December this year for a year period.

During the Press Conference, Petroleum Minister Dharmendra Pradhan said that Prime Minister Narendra Modi government has always tried to double the income of farmers.

He said Sugar and sugar cane juice will be made high-end products. The sugar industry should divert its focus on ethanol. (AIR NEWS)

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