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IDBI BANK LTD. - Advisory On Disclosure Of Material Impact Of Covid 19 Pandemic
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24 Jun 2020
Please refer to the SEBI circular dated May 20, 2020:&lt;BR&gt; In this connection IDBI discloses as under:&lt;BR&gt; The Covid-19 pandemic continues to spread across the globe and India. This has resulted in a significant decline and volatility in global and Indian markets and economic activity. Implementation of lockdown and extensions has resulted in disruptions of business and common life. With situation still unfolding, it is difficult to predict time horizons to gauge the impact. The major identified challenges for the Bank borrowers across various industry sectors is expected to arise from eroding cash flows and elongated working capital cycles. The Bank is gearing itself on all fronts to meet these challenges. Despite these events and conditions, the Bank&apos;&apos;s results in future are not expected to be materially adverse nor would have any significant impact on the going concern assumption. The above disclosure has also been included in Audited Results submitted under Reg. 33 of LODR.
View all announcements for IDBI BANK LTD. Source: BSE India

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