IDBI opens centralized treasury

Industrial Development Bank of India (IDBI) inaugurated a centralized treasury, which will act as a single point reference on interest and exchange rates for all its 434 branches. The treasury will deal the bank's investment portfolio, government securities, corporate bonds, money market, forex and will also provide proactive cash and interest rate risk management services. The IDBI Chairman and Managing Director, Mr V.P. Shetty, said. With the fixed income, equities, money market, foreign exchange and derivatives desks under a single roof, the information flow and decision-making will be seamless.