Corporate

IDBI Bank announces repayment of 11.5% SLR bonds

IDBI Bank today announced the repayment of its 11.5 per cent SLR bonds, 2009 on September 26, 2009. - IDBI Bank aims to enhance base in SME, retail sectors - ICICI, IDBI make car loans cheaper - IDBI lowers interest rates on deposit, auto loans - Govt sidesteps WB on PSB stake - State Bank of India, LIC invest in Reliance Private Equity - IDBI Bank extends losses, ends down 5% No interest will accrue on the bonds after September 25,2009 and the book closure of the 54th series will be observed with effect from August 26,2009, a bank press release said. Investors holding the bonds in the form of promissory notes may tender the bonds at the concerned branch before September 7,2009, the release said. Investors, having investment in the form of Entry-in-Account with IDBI Bank should furnish a receipt in the prescribed form along with the relevant certificate of holding, it said. For investors holding bonds in demat form, the bonds will automatically be debited and the redemption proceeds will be submitted to them, the release said.

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