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Industrial Development Bank of India (IDBI Bank) is today one of India’s largest commercial Banks. For over 40 years, IDBI Bank has essayed a key nation–building role, first as the apex Development Financial Institution (DFI) (July 1, 1964 to September 30, 2004) in the realm of industry and thereafter as a full–service commercial Bank (October 1, 2004 onwards). As a DFI, the erstwhile IDBI stretched its canvas beyond mere project financing to cover an array of services that contributed towards balanced geographical spread of industries, development of identified backward areas, emergence of a new spirit of enterprise and evolution of a deep and vibrant capital market.
On October 1, 2004, the erstwhile IDBI was converted into a Banking company (as Industrial Development Bank of India Limited) to undertake the entire gamut of Banking activities while continuing to play its secular DFI role. Post the mergers of the erstwhile the bank with its parent company (IDBI Ltd.) on April 2, 2005 (appointed date: October 1, 2004) and the subsequent merger of the erstwhile United Western Bank with IDBI Bank on October 3, 2006, the tech–savvy, new generation Bank with majority Government shareholding today touches the lives of millions of Indians through an array of corporate, retail, SME and Agri products and services.
Headquartered in Mumbai, IDBI Bank today rides on the back of a robust business strategy, a highly competent and dedicated workforce and a state–of–the–art information technology platform, to structure and deliver personalized and innovative Banking services and customized financial solutions to its clients across various delivery channels.
- Retail banking: It provides a wide range of products and services like 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.
- Agri business and microfinance: It provides finance to agri businesses in the form of dairy loans, farm mechanization loans, financing for fisheries, poultry, piggery, warehouse receipt finance, etc.
- SME: IDBI Bank also offers products and services to SME sector.
Subsidiaries of the bank
- IDBI Capital Markets
- IDBI Intech
- IDBI Asset Management
Milestones and Recognition
- IDBI’s long term foreign currency debt was given Baa2 rating by Moody’s reflecting strong government ownership and control.
- IDBI Bank was assigned ‘BBB’ rating by Standard's & Poor and Fitch, which represents strong market position.
- IDBI’s long–term bonds, fixed deposits and short–term borrowing are rated by CRISIL, ICRA and Fitch, reflecting high safety in respect to timely payment of interest and principal.
IDBI Bank launches Portfolio Investment Scheme (PIS)2011
IDBI Bank Launches Aadhaar Enrolment in Bihar
IDBI Bank Launches Aadhaar Enrolment in Kerala
IDBI Bank Launches Aadhaar Enrolment in Chennai
IDBI Bank Ltd. Awarded the ISO 9001: 2008 Certification for its Customer Care Centre and In–House Journal.
IDBI Bank Wins the Dun & Bradstreet Banking Awards 2011 for Best Bank & Best Public Sector Bank.
IDBI Bank launches “Being Me” Savings Account For the Youth on International Youth Day.
IDBI Bank Launches Magic Card.
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 introduces 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.