IDBI Bank has initiated a revival plan in consultation with The Boston Consulting Group (BCG), and would deploy its senior management talent and consultants from the global strategy expert to engineer a visible turnaround in financial performance.

The plan, called 'Project Nishchay', is aimed at accelerating the pace of business recovery at the lender that is under the central bank's prompt corrective action framework. Inclusion in that list requires the bank to conserve capital and find ways to return to profitability. IDBI Bank is not allowed to open new branches or lend to potentially risky companies now.