Customers of IDBI Bank can now start the process at their convenience through the V-CIPlink available on the bank’s website. It is a completely contactless process.
IDBI bank KYC
The Reserve Bank of India (RBI) has decided to initiate a customer identification process (V-CIP) through video KYC in key announcements on Wednesday to fight Corona. It has been suggested to include additional categories of customers and update KYC records from time to time through video KYC as a new measure.
After this approval of RBI, IDBI Bank has introduced the facility of periodic KYC updation through V-CIP. Announcing the initiative, Sureshkhatanhar, Deputy Managing Director said, “In continuation of various digital measures introduced by IDBI Bank, customers can now update their KYC through V-CIP without visiting branches. . Customers of IDBI Bank can now start the process at their convenience through the V-CIPlink available on the bank’s website. It is a completely contactless process. Actually, in view of the peak of Corona, the announcement was made by Reserve Bank Governor Shaktikanta Das yesterday. Which IDBI Bank has started with immediate effect.
Share up by 15%
At the same time, the cabinet has given in-principle approval to the proposal to sell IDBI Bank’s stake to a select investor and hand over the management of the bank, as announced in this year’s budget on Wednesday. The central government and LIC hold over 94 per cent of the total stake in IDBI Bank. After this decision of the government, shares of IDBI Bank rose strongly on Thursday and the stock rose 15 per cent to Rs 43.50 on the BSE. However, at the time of closing the market, IDBI shares fell to 6.46 per cent.
Great quarterly results
Earlier in the March quarter, IDBI Bank had a net profit of 512 crores. It has jumped 278 percent on an annual basis. The bank had a net profit of Rs 135 crore in March 2020. It has grown by 35 per cent on a quarterly basis. The bank had a net profit of Rs 378 crore in the December quarter. The bank had a net profit of 13459 crores in the financial year 2020-21, while the bank had a total loss of 12887 crores in the financial year 2019-20.
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