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The IDBI Bank has received government approval to raise Rs 3,771 crore during the year by way of Qualified Institutional Placement (QIP).
The bank has said in a regulatory filing that the government has “”conveyed its approval to IDBI Bank to raise capital to the tune of Rs 3,771 crore, through QIP route, at an appropriate time during the year”.
It further said that the approval for raising the fund was given to it by a letter yeaterday.
