PR/1194

For Immediate Publication / Broadcast / Telecast

IDBI Bank Authorized to Operate Account under Capital Gains Accounts Scheme, 1988

Mumbai, January 4, 2013: IDBI BANK Ltd. has been authorized to accept deposits under the Capital Gains Accounts Scheme (CGAS), 1988 by a Gazette notification (Copy Attached) from CBDT, Department of Revenue, Ministry of Finance, Government of India.

Long term Capital gains arising on transfer of capital assets, is not chargeable to tax if the amount of capital gain or net consideration has been utilised for specified purposes within the stipulated period as laid down under the Income tax Act. The amount of capital gain, which is not so utilized for the specified purposes, could be deposited in special Savings Bank or Term Deposit account opened with IDBI Bank Ltd as per the provisions of CGAS, 1988. The minimum amount of deposit under Term Deposit Account would be Rs.10,000/- and thereafter in multiples of Rs.10,000/- with a cap of Rs 100 crore. Senior Citizens depositing the amount with IDBI Bank Ltd. are eligible for additional interest.

About IDBI Bank

IDBI Bank is the youngest new generation public sector universal bank that rides on a cutting edge core banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 1020 branches and 1597 ATMs. The Bank had an aggregate balance sheet size of about Rs.265,000 crore and total business of Rs.350,000 crore as on September 30, 2012. IDBI Bank's operations during the half-year ended September 30, 2012 resulted in a net profit of Rs.911Crore. The Bank's operations during the last full financial year (2011-12) had yielded a net profit of Rs. 2032 crore.

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