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FIs: Focus on IDBI

Sanjiv Shankaran

The proposal to initiate corporatisation of IDBI is the most significant development. Corporatisation will clear the way for IDBI's merger with a bank. While a merger with a bank, and the resultant universal bank, may not help IDBI solve its NPA problem, it will enhance its competitiveness.

Another Budget proposal provides a tax relief on bad loans and may be of some use to IDBI in particular. One inference that may be drawn from the proposals is that ICICI and IDBI continue to have a special role to play as development financial institutions.

By indicating that they will coordinate a part of the infrastructure lending, the Government has suggested that even as universal banks they could hope to get a few special benefits. IDBI stands to gain the most from the Budget proposals.

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