IDBI Bank unveils ‘Project Nishchay’ for financial improvement


IDBI bankIn a bid to accelerate its turnaround programme and tweak its financial performance, public lender IDBI bank has launched ‘Project Nishchay’ in partnership with The Boston Consulting Group (BCG).

“The project will be led by senior management at IDBI Bank along with BCG,” said IDBI Bank.

 “BCG will support us to categorise areas for cost control and revenue escalation leading to sustainable rise and profitability of the Bank,” said Mahesh Kumar Jain, Managing Director and CEO, IDBI Bank.

“With the help from our consulting partner, we are expecting to classify and deal with existing gaps, capitalise on key potency and perk up existing products and processes.”

Dealing with multiple programmes and initiatives, the bank will concentrate on four focus areas namely revenue enhancement, cost control and reduction, asset productivity and overall program management in association with BCG.