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The IDBI Bank Limited (IDBI Bank or IDBI) is a development finance institution under the ownership of Life Insurance Corporation of India and Government of India. It was established in 1964 as Industrial Development Bank of India, a development finance institution, which provided financial services to industrial sector. In 2005, the institution was merged with its commercial division, IDBI Bank, forming the present-day banking entity and was categorized as the “other development finance institution" category. Later in March 2019, Government of India asked Life Insurance Corporation to infuse capital in the bank due to high NPA and capital adequacy issues and asked LIC to manage the bank to meet the regulatory norms. IDBI was put under Prompt corrective action of the RBI and on 10th March 2021 IDBI came out of the PCA.
As an universal bank, IDBI Bank Ltd. touches the lives of millions of Indians through a wide array of banking products and services. Besides, the Bank has an established presence in associated financial sector businesses including capital market, investment banking and mutual fund business. The Bank’s very business philosophy is characterised by the commitment to provide relevant financial solutions, ensure maximum customer convenience through easy access to branches and ATMs as well as digital offerings and excellence in customer service.
Going forward, IDBI Bank is strongly committed to work towards emerging as ‘most preferred and trusted bank enhancing value for all stakeholders’.