IDBI Bank was previously known as the IDBI limited though in the year of 2008 the organization changed its name as IDBI bank. This bank deals with a different type of finance-related solutions as well as the banking and other services like retail to different corporate companies. The organization mostly deals with the Indian company.
IDBI bank provides various services to their respected clients. They offer various types of loans such as personal loan, home loan, education loan and many other loans against the properties and financial assets or securities. The accounts of corporate payroll, as well as the fixed deposits, are also managed by the bank.
The bank offers debit card credit card and also the internet banking services. Many small businesses and enterprises are the customers of the bank. The bank acquires 3700 ATMs 18792 branches and 58 e-lounges. The bank started their journey in 1964 and its headquartered in Mumbai.
About Company Information:
IDBI bank is mainly started its financial and business operations in the year of 1964. This bank had started their journey as the subsidiary of the reserve bank of India. The name IDBI stands for industrial development bank of India. It worked as considered as the financial institution for the public. The bank had been serving the people of India as a DFI for 40 odd years.
IDBI bank had been working as a public enterprise for years, but in the year of 1976, the bank had transferred their ownership to the reserve bank which is operated by the Government of India. The bank had engaged in developing many industries in the country. In that period, the bank had been made as to the principal institution, which dealt with financial activities.
During 1982-1995, IDBI bank had done many eventful things in their business function. The bank changed its international division of finances and handed it to the Export-Import Bank, which was based on India. They also formed their subsidiary company, which is completely owned by them. This company mainly dealt with a variety of services and products regarding finances. In 1995, the first IPO had been joined wok culture of the bank. This officer had reduced the GOI holding and made it to nothing.
In 2000, IDBI bank made a new entirely owned subsidiary company. The organization dealt with informational technology in many organizations. The IDBI bank had also opened another company which dealt with the home loans and the finances regarding the houses and flats or residents. This organization had been named IDBI Home Finance Limited. The organization had also collaborated with the Nepal Development Bank.
In 2001, IDBI bank had launched IDBI services of Trusteeship. This new organization had been much beneficial for the main bank. The bank started this organization to fulfil the motive of conquering all of the debenture business. This organization had been dealing with the professional services regarding the debentures and issues that were created back then. This organization had also helped the banking services of IDBI bank.
In the year of 2015 IDBI bank had launched their self-service in the mini branch Kiosk which had been made because of the continuous request of the customers to produce personalized cheque dispensation and also the issue of the demand draft. The IDBI bank was the first bank which provided this kind of financial services on 24*7 bases. In the same year, the bank launched their first e-lounge in the Nagerbazar branch in dumdum which is situated near Kolkata. In the same year, the bank launched its SOC.
In 2018, IDBI bank reduced their GOI shareholdings below half of it. The government had relinquished control over the management of the bank. In this year the management of the bank had sent an open letter to the LIC of India to promote the bank to their customers and also take a slight control over their stake. The letter also consists of the regulations and legislations regarding the equity of the bank. LIC had shown interest, and a meeting was held on 17th July among the board of directors of the bank.
How IDBI Bank Ltd, is categorised as Banks Sector, and Finance - Banks - Public Industry :
The Financial Industry is a section that leads the world in terms of equity market capitalization and earnings. The companies that are in the economic enterprise focus mainly on managing money, as their revenue is generated mostly by the sectors from mortgage and loans that gain value as interest rates rise. Also, this industry's economy is made up of institutions and firms that provide financial services to wholesale and retail customers.
The main sectors that are into the Financial industry are,
Accounting and Bookkeeping.
Financial Markets and Planning.
Banking and General Financial Services.
Mortgage and Financial Broking.
Insurance and Superannuation.
Specialised Financial Services.
IDBI Bank Ltd comes under the Banking sector. The banking sector is one of the active areas in India, which makes a significant portion of the growth of a country’s GDP. The banking sector in India is of great importance in Asia and also throughout the World because of its steady performance in the market.
IDBI Bank Ltd, Competitors and Sector Peers:
Bank of Maharashtra - BANK5
Central Bank of India - CENTRB
Corporation Bank - CORBAN
Indian Overseas Bank - INDOVE
Oriental Bank of Commerce - ORIBAN
Punjab & Sind Bank - PUNSI
Punjab National Bank - PUNNAT
State Bank Of Bikaner and Jaipur [Merged] - STABAN
State Bank Of India - SBIN
State Bank Of Mysore - STATE3
State Bank of Travancore [Merged] - STATE6
Union Bank of India - UNIBAN
United Bank of India - UNITBA