IDBI Bank
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 categorised as "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 also asked LIC to manage the bank to meet the regulatory norms. IDBI was put under Prompt corrective action of the RBI and on 10 March 2021 IDBI came out of the PCA. At present direct and indirect shareholding of Government of India in IDBI Bank is approximately 95%, which Government of India (GoI) vide its communication F.No. 8/2/2019-BO-II dated December 17, 2019, has clarified and directed all Central/State Government departments to consider IDBI Bank for allocation of Government Business. Many national institutes find their roots in IDBI like SIDBI, EXIM, National Stock Exchange of India, SEBI, National Securities Depository Limited.
Bank Aisa Dost Jaisa | |
| Formerly | Industrial Development Bank of India Limited (1964–2008) |
|---|---|
| Company type | Public |
Traded as | |
| Industry | Financial services |
| Predecessor | Industrial Development Bank of India |
| Founded | 1 July 1964 |
| Founder | Government of India (by the IDBI Act, 1964) |
| Headquarters | IDBI Tower, WTC Complex, Cuffe Parade, Colaba, Mumbai, Maharashtra , India |
Key people | |
| Products |
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| Revenue | ₹25,166.91 crore (US$3.2 billion) (2023) |
| ₹8,803.89 crore (US$1.1 billion) (2023) | |
Net income | ₹3,686.84 crore (US$460 million) (2023) |
| Total assets | ₹331,497.70 crore (US$42 billion) (2023) |
| Total equity | ₹24,455 crore (US$3.1 billion) (2020) |
| Owner | Life Insurance Corporation of India (49.24%) Government of India (45.5%) |
Number of employees | 17,736 (March 2021) |
| Subsidiaries |
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| Capital ratio | 13.31% |
| Website | www |
The bank has an aggregate balance sheet size of ₹3.74 trillion as of 31 March 2016. It has 3,353 ATMs, 2,000 Retail Banking branches as on 1st April 2024, including one overseas branch in Dubai, 58 e-lounges and 1,442 Centres as of 1 August 2023. As of September 2021, Life Insurance Corporation holds the 49.24% shareholding and the Government of India holds 45.48%, with LIC being in control of the management of the bank.