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IDBI Bank plunges into red for first time as NPAs soar

State-run IDBI Bank on Friday joined its peers in cleaning up its books and reported a massive loss of Rs 2,183.68 crore for the December quarter after classifying a whopping Rs 5,800 crore as fresh slippages.

Reflecting the poor show, the share prices of banks are already declining by the day, impacting their valuation.
About one-fifth of bad loans was written off in 2014-15 as the gross non-performing assets (NPAs) at the end of March 2015 rose to Rs 2,67,065 crore.
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