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MUMBAI: Rating agency ICRA has assigned A1+ rating to the Rs 10,000-crore certificate of deposit programme of Industrial Development Bank of India (IDBI). A1+ indicates highest credit rating.

The bank's certificate of deposits programme had been enhanced from Rs 8,000 crore to Rs 10,000 crore.

The rating factors in the implicit sovereign support enjoyed by the lender for its mandated role of development banking in addition to its commercial banking role in the country, an ICRA release said here on Friday.

The rating also takes into account the highly competitive operating cost structure, comfortable regulatory capitalisation and the bank's improving presence in the retail segment and non-urban centres, the release said. - PTI

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