The bank's net profit fell to 2,232 crore for its fiscal first quarter to June 30.
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
With their weak metrics and high bad loans, India's state-run banks have not been investor favourites
Indian banks would have to make higher provisions for lending to large corporate borrowers above a certain level from next financial year, according to proposals published by the Reserve Bank of India (RBI) on Thursday.
State-owned banks account for more than two-thirds of the sector's assets and about 85 percent of bad debts
Digibank will offer only savings deposits initially, but will expand to include investments and lending in the coming months.
The lenders, led by State Bank of India (SBI), are due to inform the Supreme Court of their decision on the offer at a hearing on Thursday.
The banks have asked the court to demand his return and to impound his passport.
Tata Motors is seeking an image makeover with the curvaceous hatchback, Zica.
At the current market price of the stock, that stake would be valued at about $1.5 billion.
A total of 41 companies had applied for the permit
The spike at private sector lenders like ICICI Bank and Axis Bank follows a push to grab market share from India's dominant state banks.
Bad debt rules are steps in right direction.
Despite Indian economy recovering, there is very little room for loan growth, say bankers.
Axis Bank has reported a better-than-expected 18.4 per cent increase in quarterly net profit.
ICICI Bank puts up a good show in Q4.
Banks are pushing into credit cards and personal loans, using blanket advertising, cold call campaigns and even sending employees to malls to lure customers.
The SBI auction will be the biggest nationwide online sale.
MUDRA bank will help microfinancing firms to lend more.
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