IDBI Bank

IDBI Bank was founded on July 1, 1964 under an Act of Parliament. It was established as a wholly owned subsidiary of RBI (Reserve Bank of India). The ownership was however transferred to the Government of India on February 16, 1976. It worked as the main financial institution, whose main goal was to coordinate with other institutions associated with financing, developing and promoting the industry. With the public issue of IDBI Bank released in July 1995, the share holding of the Government came down below 100%. However, the majority of the share was still owned by the government, which is currently 52.3%. IDBI Bank started offering a wide array of products and services to its customers, which covered entire range of industrial activities including services and manufacturing

The Industrial Development Bank of India Limited, popularly known as IDBI Bank is one of the leading public sector banks in India. Categorized as "other public sector bank" by Reserve Bank of India (RBI), IDBI Bank is also the 4th largest Indian bank. Founded in 1964 to provide credit and other facilities to its customers, IDBI Bank currently has 457 centers, 688 branches and 1020 ATMs across the nation. It is world's 10th largest development bank in terms of reach. IDBI Bank also built several institutions including the National Stock Exchange of India (NSE), the Stock Holding Corporation of India (SHCIL) and the National Securities Depository Services Ltd. (NSDL) etc.