IDBI Bank Ltd., now known as IDBI Bank, is a government-owned financial service company in India. Here are the key details about IDBI Bank:
IDBI Bank Overview
IDBI Bank was established in 1964 as a wholly-owned subsidiary of the Reserve Bank of India (RBI) to provide credit and other financial facilities for the development of the fledgling Indian industry. It became a public sector bank in 1976.
IDBI Bank offers a wide range of banking and financial services, including savings and current accounts, fixed deposits, personal loans, home loans, vehicle loans, credit cards, business loans, agricultural loans, and trade finance services. It also provides various investment and insurance products.
IDBI Bank provides online banking services and a mobile banking app, allowing customers to perform transactions, pay bills, transfer funds, and manage their accounts through digital platforms.
IDBI Bank has a presence in international financial markets and offers services such as foreign currency accounts, international trade financing, and correspondent banking relationships.
ATMs and Branches
IDBI Bank has an extensive network of branches and ATMs across India, allowing customers convenient access to banking services.
Corporate Social Responsibility (CSR)
IDBI Bank is involved in various CSR initiatives, focusing on areas such as education, healthcare, sanitation, skill development, and community development.
Awards and Recognition
IDBI Bank has received recognition for its banking services and initiatives, both nationally and internationally.
IDBI Bank Full form
IDBI Bank’s full form is “Industrial Development Bank of India.” It was established in 1964 by an Act of Parliament as a wholly-owned subsidiary of the Reserve Bank of India. Initially, it operated as a development financial institution, but over time, it evolved into a commercial bank. Please note that information might have changed after my last update in January 2022, so it’s a good idea to verify from a current source.
Please note that specific services, interest rates, and terms may change over time. For the most accurate and up-to-date information about IDBI Bank’s offerings, it’s recommended to visit the official IDBI Bank website or contact their branches or customer service directly.