The accretion of the NPAs for the institution has much do with the external environment rather than any faulty decision by the institution, he said.

Mr Gupta who left the top post of the institution on Wednesday after 35 years of service said that the country's industry had created a lot of potential which could not be utilised afterwards because of the economic slowdown.

``We are trying to improve the situation through different strategies,'' he said. Meanwhile the Centre has asked IDBI's deputy managing director SK Chakravarty to hold the temporary charge of chairman and managing director of IDBI.

Sources expect the Government to appoint a full time chairman very soon. The IDBI will appoint a consultant to chalk out the strategy for foraying into universal banking soon, he said.

Sources point out that the institution is preparing itself in full swing for an American Depository Receipt (ADR) issue very soon. ``It is happening very soon,'' said the sources. Mr Gupta said that the institution has its own approach to undertake the activities of a universal bank which can be successful in the long-run.