Type Public sector bank
Founded 1964
Headquarters Mumbai
Key people Yogesh Agarwal — Chairman;
Industry Finance
Products Financial Services
Employees 8989
Website http://www.idbibank.com/
Founded 1964
Headquarters Mumbai
Key people Yogesh Agarwal — Chairman;
Industry Finance
Products Financial Services
Employees 8989
Website http://www.idbibank.com/
INTRODUCTION:-
The Industrial Development Bank of India Limited commonly known by its acronym IDBI is one of India's leading public sector banks and 4th largest Bank in overall ratings. RBI categorized IDBI as "other public sector bank”. It was established in 1964 by an Act of Parliament to provide credit and other facilities for the development of the fledgling Indian industry. It is currently the tenth largest development bank in the world in terms of reach with 1003 ATMs, 576 branches and 358 centers.[1] Some of the institutions built by IDBI are The National Stock Exchange of India (NSE), The National Securities Depository Services Ltd. (NSDL) and the Stock Holding Corporation of India (SHCIL) IDBI BANK , as a private bank after government policy for new generation private banks.
.Specialised development financial institutions (DFIs) such as the IDBI, NABARD, NHB and SIDBI, etc., with majority ownership of the Reserve Bank were set up to meet the long-term financing requirements of industry and agriculture. To facilitate the growth of these institutions, a mechanism to provide concessional finance to these institutions was also put in place by the Reserve Bank.
Recent developments
To meet emerging challenges and to keep up with reforms in financial sector, IDBI has taken steps to reshape its role from a development finance institution to a commercial institution. With the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003, IDBI attained the status of a limited company viz. "Industrial Development Bank of India Limited" (IDBIL). Subsequently, the Central Government notified October 1, 2004 as the 'Appointed Date' and RBI issued the requisite notification on September 30, 2004 incorporating IDBI Ltd. as a 'scheduled bank' under the RBI Act, 1934. Consequently, IDBI, the erstwhile Development Financial Institution of the country, formally entered the portals of banking business as IDBIL from October 1, 2004, over and above the business currently being transacted.
The Private banking arm, idbi bank was merged into IDBI. The IDBI BANK was one of the fastest growing companies in India. The Banking arm was technologically driven, customer focussed entity. IDBI got the platform of its private banking arm to reform itself into a competitive entity.
The all India financial institutions can be classified under four heads according to their economic importance that are:
All-India Development Banks
Specialized Financial Institutions
Investment Institutions
State-level institutions
Other institutions
The Industrial Development Bank of India Limited commonly known by its acronym IDBI is one of India's leading public sector banks and 4th largest Bank in overall ratings. RBI categorized IDBI as "other public sector bank”. It was established in 1964 by an Act of Parliament to provide credit and other facilities for the development of the fledgling Indian industry. It is currently the tenth largest development bank in the world in terms of reach with 1003 ATMs, 576 branches and 358 centers.[1] Some of the institutions built by IDBI are The National Stock Exchange of India (NSE), The National Securities Depository Services Ltd. (NSDL) and the Stock Holding Corporation of India (SHCIL) IDBI BANK , as a private bank after government policy for new generation private banks.
.Specialised development financial institutions (DFIs) such as the IDBI, NABARD, NHB and SIDBI, etc., with majority ownership of the Reserve Bank were set up to meet the long-term financing requirements of industry and agriculture. To facilitate the growth of these institutions, a mechanism to provide concessional finance to these institutions was also put in place by the Reserve Bank.
Recent developments
To meet emerging challenges and to keep up with reforms in financial sector, IDBI has taken steps to reshape its role from a development finance institution to a commercial institution. With the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003, IDBI attained the status of a limited company viz. "Industrial Development Bank of India Limited" (IDBIL). Subsequently, the Central Government notified October 1, 2004 as the 'Appointed Date' and RBI issued the requisite notification on September 30, 2004 incorporating IDBI Ltd. as a 'scheduled bank' under the RBI Act, 1934. Consequently, IDBI, the erstwhile Development Financial Institution of the country, formally entered the portals of banking business as IDBIL from October 1, 2004, over and above the business currently being transacted.
The Private banking arm, idbi bank was merged into IDBI. The IDBI BANK was one of the fastest growing companies in India. The Banking arm was technologically driven, customer focussed entity. IDBI got the platform of its private banking arm to reform itself into a competitive entity.
The all India financial institutions can be classified under four heads according to their economic importance that are:
All-India Development Banks
Specialized Financial Institutions
Investment Institutions
State-level institutions
Other institutions
BOARD OF DIRECTORS
Mr. Yogesh Agarwal - CEO & MD
Mr. O V Bundellu - Deputy MD
Industrial Development Bank of India (IDBI) -HISTORY
The Industrial Development Bank of India (IDBI) was established on July 1, 1964 under an Act of Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 16 February 1976, the ownership of IDBI was transferred to the Government of India and it was made the principal financial institution for coordinating the activities of institutions engaged in financing, promoting and developing industry in the country. Although Government shareholding in the Bank came down below 100% following IDBI’s public issue in July 1995, the former continues to be the major shareholder (current shareholding: 52.3%). During the four decades of its existence, IDBI has been instrumental not only in establishing a well-developed, diversified and efficient industrial and institutional structure but also adding a qualitative dimension to the process of industrial development in the country. IDBI has played a pioneering role in fulfilling its mission of promoting industrial growth through financing of medium and long-term projects, in consonance with national plans and priorities. Over the years, IDBI has enlarged its basket of products and services, covering almost the entire spectrum of industrial activities, including manufacturing and services. IDBI provides financial assistance, both in rupee and foreign currencies, for green-field projects as also for expansion, modernisation and diversification purposes.
MERGERS & ACQUISITIONS
Union Western Bank - 2006
IDBI Bank - 2004
The Government of India has also given its approval for the merger of IIBI with IDBI and the latter has already started the due diligence process.
Product & Schemes:-
Deposits:-
Saving Account
Super saving Account
Credit Account
Fixed deposits
Suvidha Tax saving fixed Deposit
Pension Account
Sabka Account
Sample AOF
Super-Shakti account for women
Jubliee plus account
Loans
Home loans
Loans against property
Personal loan
Loan against security
Holiday travel loan
Reverse mortgage loan
Payments
Tax Payment
Stamp duty payment
Easy fill
Bill payment
Card to card money transfer
Online payment
PayMate
Investment Advisory
Insurance
NRI Services
For Smart Financial Planning
Mutual Fund
Insurance
Fixed Income Securities
New Pension System
Life Insurance
General Insurance
FamilyCare
Wealthsurance
Gold Debit Card
International Debit cum ATM Card
Gift Card
World Currency Card
Cash Card
Phone Banking
SMS Banking
AccountAlerts
Internet Banking
Internet Banking Demo
Institutional Savings Account
Corporate Payroll Account
Lockers
India Post
IPO
No comments:
Post a Comment