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![]() Bank Aisa Dost Jaisa | |
Formerly | Industrial Development Bank of India Limited (1964–2008) |
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Company type | Public |
Industry | Financial services |
Predecessor | Industrial Development Bank of India |
Founded | 1 July 1964[1] |
Founder | Government of India (by the IDBI Act, 1964) |
Headquarters | IDBI Tower, WTC Complex, Cuffe Parade, , India[2] |
Key people | |
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Total equity | ![]() |
Owner | Life Insurance Corporation of India (49.24%) Government of India (45.5%)[4] |
Number of employees | 18,283 (September 2023) |
Subsidiaries |
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Capital ratio | 13.31% |
Website | www |
The IDBI Bank Limited (IDBI Bank or IDBI) is a Scheduled Commercial Bank under the ownership of Life Insurance Corporation of India (LIC) and Government of India. It was established by Government of India as a wholly owned subsidiary of Reserve Bank of India 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 subsidiary commercial division, IDBI Bank, and was categorised as "Other Development Finance Institution" category. Later in March 2019, Government of India asked LIC 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. Consequent upon LIC acquiring 51% of the total paid-up equity share capital, the bank was categorised as a 'Private Sector Bank' for regulatory purposes by Reserve Bank of India with effect from 21 January 2019. IDBI was put under Prompt Corrective Action of the Reserve Bank of India and on 10 March 2021 IDBI came out of the same. 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 17 December 2019, has clarified and directed all Central/State Government departments to consider IDBI Bank for allocation of Government Business. [6] Many national institutes find their roots in IDBI like SIDBI, EXIM,[7] National Stock Exchange of India, SEBI, National Securities Depository Limited. Presently, IDBI Bank is one of the largest Commercial Banks in India.
The bank has an aggregate balance sheet size of ₹3.74 trillion as of 31 March 2016[update].[8] It has 2,005 Retail Banking Branches and 3,353 ATMs spreading all over India as of 26 April 2024, including one overseas branch in Dubai, 58 e-lounges and 1,442 Centres as of 1 August 2023[update].[9] As of September 2021[update], LIC holds the 49.24% shareholding and the Government of India holds 45.48%, with LIC being in control of the management of the bank.