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A penalty of Rs. 0.37 crore has been imposed on IDBI Bank by the Deputy Commissioner in Rajasthan for incorrectly availing excess Input Tax Credit (ITC) during FY 2017-18, along with an interest charge of Rs. 0.50 crore. The total financial impact amounts to Rs. 1.24 crore when combining the tax, interest, and penalty. The bank is currently assessing legal options, including the possibility of filing an appeal. This development poses a potential risk to the bank’s financial standing, warranting close observation from investors going forward.