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IDBI Bank offers a wide range of products from savings and current bank account to loans for retail and msme customers or agri loans to farmers. Apply Now. Foreign Currency - IDBI Bank IDBI Bank has made a foray into the overseas markets to leverage its domestic banking strengths to offer competing products internationally. The Bank's first international branch has been set up at the Dubai International Financial Centre (DIFC), Dubai.
In the fourth quarter of financial year , the bank had reported a loss of Rs. While the reported loss was lower than the preceding quarter, bad loans continued to surge. In the quarter ending September the bank bounced back with a loss of Rs. The bank is expected to return to profit in the near future. It currently has 3, ATMs, 1, branches, including one overseas branch in Dubai, and 1, centers.
The bank has an aggregate balance sheet size of INR 3. Retrieved 22 February The demand for reconstruction funds for the affected nations compelled in setting up of national institutions for reconstruction. At the time of Independence in , India had a fairly developed banking system. The adoption of bank dominated financial development strategy was aimed at meeting the sectoral credit needs, particularly of agriculture and industry. Towards this end, the Reserve Bank concentrated on regulating and developing mechanisms for institution building.
The commercial banking network was expanded to cater to the requirements of general banking and for meeting the short-term working capital requirements of industry and agriculture. In , the ownership of IDBI was transferred to the Government of India and it was made the principal financial institution for coordinating the activities of institutions engaged in financing, promoting and developing industry in India.
IDBI provided financial assistance, both in rupee and foreign currencies, for green-field projects as also for expansion, modernisation and diversification purposes. In the wake of financial sector reforms unveiled by the government since , IDBI also provided indirect financial assistance by way of refinancing of loans extended by State-level financial institutions and banks and by way of rediscounting of bills of exchange arising out of sale of indigenous machinery on deferred payment terms.
A committee formed by RBI recommended the development financial institution IDBI to diversify its activity and harmonise the role of development financing and banking activities by getting away from the conventional distinction between commercial banking and developmental banking. Alexander Hamilton the right-hand man was against this but stayed dead silent.
To keep up with reforms in financial sector, IDBI reshaped its role from a development finance institution to a commercial institution. As on 31 March , Government of India held Use this pair if you know that the chart.
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It is owned by the Government of India.
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