IDBI Bank

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The Industrial Development Bank of India Limited, popularly known as IDBI Bank is one of the leading public sector banks in India. Categorized as "other public sector bank" by Reserve Bank of India (RBI), IDBI Bank is also the 4th largest Indian bank. Founded in 1964 to provide credit and other facilities to its customers, IDBI Bank currently has 457 centers, 688 branches and 1020 ATMs across the nation. It is world's 10th largest development bank in terms of reach. IDBI Bank also built several institutions including the National Stock Exchange of India (NSE), the Stock Holding Corporation of India (SHCIL) and the National Securities Depository Services Ltd. (NSDL) etc.

Brief History



IDBI Bank was founded on July 1, 1964 under an Act of Parliament. It was established as a wholly owned subsidiary of RBI (Reserve Bank of India). The ownership was however transferred to the Government of India on February 16, 1976. It worked as the main financial institution, whose main goal was to coordinate with other institutions associated with financing, developing and promoting the industry. With the public issue of IDBI Bank released in July 1995, the share holding of the Government came down below 100%. However, the majority of the share was still owned by the government, which is currently 52.3%. IDBI Bank started offering a wide array of products and services to its customers, which covered entire range of industrial activities including services and manufacturing.

In September 2003, IDBI acquired the entire shareholding of Tata Finance Limited in Tata Home Finance Ltd. Since then, the fully owned housing subsidiary was known as 'IDBI Home Finance Limited'. Next year, on July 29, 2004, the Board of Directors of IDBI and IBDI Bank approved the merger of IDBI Bank with the Industrial Development Bank of India Ltd. IDBI Bank also acquired United Western Bank in 2006.

Subsidiaries



IBDI Bank has the following subsidiaries:

  • IDBI Capital Market Services Limited
  • IDBI Home Finance Limited
  • IDBI Intech Limited
  • IDBI Gilts Limited

Products and Services



IDBI Bank offers a wide array of products and services to its customers. For different customer groups and needs, there are different types of products and services including Personal Banking, Corporate Banking, SME Finance and Agri Business etc.

Personal Banking



Following products and services are offered under Personal Banking:

  • Deposits
    • Savings Account
    • Current Account
    • Fixed Deposits
    • Suvidha Tax Saving Fixed Deposit
    • Pension Accounts
    • Sabka Account
    • Super Shakti Account for Women
    • Jubilee Plus Account
  • Loans
    • Home Loans
    • Loans Against Property
    • Education Loans
    • Personal Loan
    • Loan Against Securities
    • Reverse Mortgage Loan
    • Auto Loan
  • Payments
    • Tax Payments
    • Stamp Duty payments
    • EasyFill
    • Bill Payment
    • Card to Card Money Transfer
    • Online Payments
    • PayMate
  • Investments Advisory
    • Smart Financial Planning
    • Mutual Fund
    • Insurance
    • Fixed Income Securities
  • Cards
    • Gold Debit Card
    • International Debit cum ATM Card
    • Gift Card
    • World Currency Card
    • Cash Card
    • KIDS Debit Card
    • Foundation Day Cash Back Scheme 2009
    • Platinum Card
  • Institutional Banking
    • Institutional Savings Account
    • Corporate Payroll Account
  • 24 Hours Banking
    • Phone Banking
    • SMS Banking
    • AccountAlerts
    • Internet Banking
  • Other products
    • Lockers
    • India Post
  • Preferred Banking
  • NRI Services
  • Capital Market
    • IPO
    • Demat

Corporate Banking



Following products and services are offered by IDBI Bank for the corporates:

  • Project Finance
  • Infrastructure Finance
  • Syndication, Underwriting & Advisory Services
  • Carbon Credits Business
  • Working Capital
  • Cash Management Services
  • Trade Finance
  • Tax Payments
  • Derivatives
  • Technology Upgradation Fund Scheme (TUFS)
  • Film Financing Scheme
  • Direct Discounting Bills
  • Rehabilitation Finance

SME Finance



Following SME Finance products are offered by the IDBI Bank:

  • Sulabh Vyapar Loan
  • Dealer Finance
  • Funding under CGFMSE
  • Direct Credit Scheme - SIDBI
  • Preferred customer scheme - IDBI Bank / SIDBI
  • Vendor financing (Pre - Sale)
  • Vendor financing (Post - Sale)
  • Lending Against the Security of Future Credit Card Receivables
  • Working Capital Financing - Software Development Entities
  • Finance to Medical Practitioners
  • Loan to SRWTO
  • SME Hosiery Special Current Account
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