IDBI Bank or IDBI
IDBI Bank is one of India’s largest commercial Banks, and for over 40 years, it has essayed a key nation-building role, and it is also the first as the apex Development Financial Institution (DFI on July 1, 1964, to September 30, 2004) in the realm of industry and after that it became a full–service commercial Bank as on October 1, 2004. As a DFI, the preceding IDBI stretched its canvas beyond just mere project financing to cover an array of services
that contributed towards a balanced geographical spread of industries, and the development of identified backward areas, the emergence of a new spirit of an enterprise and its evolution for a deep & vibrant capital market.
As on October 1, 2004, the IDBI was converted into a Banking company known as Industrial Development Bank of India Limited in order to undertake the entire gamut of banking activities while continuing to play its secular DFI role. Post the mergers of the preceding the bank with its parent company IDBI Ltd. on April 2, 2005, and appointed on date: October 1, 2004, and the other subsequent merger of the erstwhile United Western Bank with the IDBI Bank on October 3, 2006. It became a tech-savvy, new generation Bank with the majority Government shareholding today which touches the lives of millions of Indians via an array of corporate, retail, SME and Agri products and different facilities.
It has its headquartered in Mumbai, and the IDBI Bank today rides on the back of a complete, robust business strategy, and a highly competent and dedicated workforce. With a state of the art information technology platform, to structure as well as to deliver personalized and innovative Banking services and the customized financial solutions to all of its clients across various delivery channels.
Some of its services are:
- Retail banking: It provides a wide range of products & facilities such as deposits, loans, NRI services, demat, pension account, mobile banking, internet banking, investment schemes such as mutual fund, insurance products, bonds, debentures, etc.
- Corporate banking: It provides corporates project finance, film finance, foreign currency loan, working capital finance, treasury products, etc.
- Agribusiness and microfinance: It provides finance to agribusinesses in the form of dairy loans, farm mechanization loans, financing for fisheries, poultry, piggery, warehouse receipt finance, etc.
- SME: It offers various products and services to the SME sector.
Some of the subsidiaries of the bank:
- IDBI Capital Markets
- IDBI Intech
- IDBI Asset Management
- IDBI Bank Launches ‘Urban Financial Inclusion Programme’ at Dhobi Ghat
- IDBI Bank Launches Kisan Credit Smart Card
- IDBI Bank Receives Greentech CSR Award
- IDBI Bank launches Floating Rate Interest on Retail Term Deposit (FRTD)
- IDBI Bank launches IDBI Samriddhi CD Portal
- IDBI Bank Launches 24*7 Loan Monitoring System for its Retail and Corporate Clients
- IDBI Bank Launches MSE Focused Branch in Jalandhar.
- IDBI Bank launches India's first online Retail G–Sec Portal.
- IDBI Bank Introduces Digital Signature based authentication for Corporate Inet Banking Channel
- IDBI Bank introduces online PPF Subscription Facility
- IDBI Bank establishes inland Letter of Credits (LCs) through Structured Financial Messaging System (SFMS) and proposes the issuance of BRC in electronic form.
- IDBI Bank wins the 3rd Annual Greentech CSR Award for the year 2013
- IDBI Bank Wins the Golden Peacock CSR Award for the year 2013:
- IDBI Bank Launches Kiosk Banking Solution under Financial Inclusion and donated solar lamps to Chinchvali Gram Panchayat under CSR.