IDBI Bank, one the leading public sector banks, witnessed a rise in share price on Friday after the bank signed a MoU with National Housing Bank (NHB) on Aug. 26, 2015. This MoU is a part of the implementation process of the credit linked interest subsidy scheme under the Pradhan Mantri Awas Yojana.

"The objective of the said scheme is to address the funding requirements of the urban poor belonging to the economically weaker section or lower income groups aspiring to acquire or construct residential houses," the bank said.

The subsidy at the rate of 6.5% would be available up to Rs. 6 lakhs for the loan tenure up to a maximum period of 15 years.

Shares of IDBI Bank are trading at Rs 60.05, up Rs 1.35, or 2.30% at the Bombay Stock Exchange (BSE) on Friday at 12:12 p.m.

The scrip has touched an intra-day high of Rs 60.95 and low of Rs 59.65. The total volume of shares traded at the BSE is 207,270.