The full form of IDBI is the Industrial Development Bank of India. IDBI bank was founded in the year 1964 and its head office is in Mumbai. This Bank is known as an Indian Government-owned Financial service company as per RBI instructions. Basically, the function of IDBI is to provide credit facilities as well as financial solutions for developing the Indian Industry. As of October 9th, 2017, Mr. Mahesh Kumar Jain is the MD & CEO of IDBI.
It is an Indian government-owned financial service company that was established in 1964. It is one of the largest development banks in the country and provides a broad range of financial products and services to its customers. It is also one of the oldest development banks in India.
IDBI is the Industrial Development Bank of India. This Bank is known as an Indian Government-owned Financial Service Company as per RBI instructions. IDBI Bank was originated in the year 1964. The assets are established in the form of foreign amounts of money and lines of Credit. At present, IDBI is one of the central commercial banks of India. Overall, it has 1602 Branches, 2912 ATMs, 1013 centers.
Especially for providing long-term finance and in connecting with the relevant institutions to work together for the development industrial sector, IDBI Bank works on. Additionally, for administering both Administrative and technical functions of the Industrial sector, the bank works on helping them to do research and development activities. However, this is done by raising funds, by borrowing bonds and deposits from the Government and RBI. The funds are received in form of Foreign currencies and lines of Credit. At present, IDBI is one of the largest commercial banks in India. Overall, it has 1602 Branches, 2912 ATMs, 1013 centers, which also include its overseas centers in Beijing and Singapore. Therefore, IDBI Bank helps in providing personal and financial solutions and is a highly preferred and trustworthy bank by insisting on the value of Stakeholders.
Let’s focus on the objective of a development bank.
It helps to promote industrial growth,
It helps to develop or grow backward areas,
It helps to build more employment fortuity.,
It helps to generate more exports and encourage import substitution,
It helps to promote modernization and correction or development in technology,
It helps to promote more self-employment projects,
If you have any doubt about it then please comment us.
The headquaters is at Colaba, Mumbai, Maharashtra. IDBI bank is a development finance institution and a commercial bank. IDBI provides various facilities such as Investment Banking, Commercial Banking, Retail Banking, Asset Management, Pensions, Mortgages, and Credit cards. The total number of employees is eighteen thousand.
The Bombay Stock Exchange and the National Stock Exchange of India have the IDBI Bank’s equity share listings. The wholly-owned subsidiary of IDBI Bank is IDBI Intech Ltd. which was established in 2000. There are some other Specialized Development Financial Institutions along with IDBI are NABARD, NHB, SIDBI.
| Term | Full Form |
| IDBI | Industrial development Bank of India |
FAQ’s
IDBI bank was founded in the year 1964 and their head office is in Mumbai. This Bank is known as Indian Government owned Financial service company as per RBI instructions.
IDBI is short form of Industrial development Bank of India.
Industrial development Bank of India is full form of IDBI.
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