nagpuridbi bank has firmed up plans for a major overseas expansion as a development finance institution dfi said chairman kishore kharat the statement comes at a time finance minister arun jaitely has commented that the government may consider reducing its holding in the bank giving it more operational freedomjaitely had said the idbi bank repeal act of 2003 which governs the institution does specify that government needs to hold at least 51 in the entity the government holds 80 stake in the bank so even if there is a mandate of keeping a minimum 51 stake in the bank there is still scope for offloading up to 28 and keep governments share at 52 said kharat he was in the city to inaugurate the banks new zonal officedisinvestment or not the bank finds itself at a point of inflection and is ready to take off the plan for overseas expansion will be soon put up before the board of directors we plan to open 10 overseas branches eyeing business in financing development projects in the gulf saarc and african nations said kharat he added there is tremendous scope for a dfi in the foreign market there is hardly any competition in this sector from domestic or international players for example malaysia has seen substantial development but there is no dfi operating in the market as such the institutions abroad are mainly into commercial banking rather than pure dfis he said