6 sept 2001

idbi has global aspirations
mumbai: the newly-appointed chairman of the industrial development bank of india (idbi), padmanabha p. vora wants to make it a global player.

" my desire is to take idbi on the road to universal banking. in the changed market scenario, cost of funds, operating cost and the spread are factors extremely critical in determining the profitability of the institution and universal banking provides it with flexibility," mr. vora told media persons here.

he said idbi would also like to tap financing of pharmaceuticals, telecom, consumer goods, housing and infrastructure which offer opportunity for growth in business and profitability.