IDBI Bank
About IDBI Bank
IDBI Bank is one of the leading public sector banks in India. Established in 1964, the bank has played a significant role in India's industrial development. Originally founded as the Industrial Development Bank of India (IDBI) to provide credit and other financial facilities for the development of Indian industry, it was later converted into a commercial bank. Headquartered in Mumbai, IDBI Bank offers a wide range of banking products and financial services to its customers across the country. The bank is known for its focus on industrial financing and has been instrumental in supporting the growth of Indian industry.
History of IDBI Bank
IDBI Bank was originally established on 1 July 1964 as the Industrial Development Bank of India (IDBI) under the Industrial Development Bank of India Act, 1964. It was set up as a wholly-owned subsidiary of the Reserve Bank of India (RBI) with the objective of coordinating, regulating, and supervising the institution engaged in providing credit and other facilities for industrial development in India.
In 1976, IDBI was delinked from the Reserve Bank of India and was made an autonomous institution under the administrative control of the Government of India. Over the years, IDBI played a crucial role in financing India's industrial development and establishing several financial institutions.
In 2004, IDBI was converted into a commercial bank and was renamed IDBI Bank Ltd. This transformation enabled the bank to expand its retail banking operations and diversify its product offerings. The bank has since grown significantly through organic expansion and strategic initiatives, establishing itself as a prominent player in the Indian banking sector.
IDBI Bank Services
IDBI Bank offers a comprehensive range of banking products and financial services to its customers, including:
- Retail Banking Services - Savings accounts, current accounts, fixed deposits, recurring deposits
- Corporate Banking Services - Working capital finance, project finance, trade finance
- Loans and Credit Facilities - Home loans, personal loans, auto loans, education loans, business loans
- NRI Banking Services - NRO accounts, NRE accounts, FCNR accounts, remittance services
- Debit and Credit Cards - Wide range of cards with various benefits and rewards
- Digital Banking Services - Internet banking, mobile banking, IDBI Bank app
- Investment Services - Mutual funds, insurance products, demat services
- Government Banking - Treasury services, government business handling
Unique Facts about IDBI Bank
- IDBI Bank was originally established in 1964 as the Industrial Development Bank of India.
- It was converted into a commercial bank in 2004 and renamed IDBI Bank Ltd.
- The bank has a strong focus on industrial financing and has supported numerous industrial projects in India.
- IDBI Bank has one of the largest branch networks among Indian public sector banks.
- The bank has been instrumental in establishing several financial institutions in India.
You can find contact details and all the codes of all the IDBI Bank branches in India here.