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	==See also==		==See also==
	~~{{Portal\|Banks}}~~
	* [[Banking in India]]		* [[Banking in India]]
	* [[List of banks in India]]		* [[List of banks in India]]

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{{short description|Indian industrial development banking company}}
{{Use Indian English|date=October 2015}}
{{Use dmy dates|date=October 2020}}
{{Infobox company
| name = IDBI Bank Limited
| logo = IDBI Logo.svg
| logo_size = 250px
| logo_alt =
| logo_caption = Bank Aisa Dost Jaisa
| image =
| image_size =
| image_alt =
| image_caption =
| trading_name =
| type = *[[Development finance institution|Development Finance Institution]]
*[[Subsidiary]] of [[Life Insurance Corporation of India]]

| traded_as = {{ubl|{{BSE|500116}}|{{NSE|IDBI}}}}
| industry = [[Financial services]]
| founded = {{Start date and age|1964|07|01|df=yes}}<ref name = "history">{{cite web |title=About us |url=https://www.idbi.com/idbi-bank-history.asp |website=IDBI Bank |access-date=29 January 2019}}</ref>
| founder = [[Government of India]] by an [[Act of Parliament]]
| hq_location = IDBI Tower, [[World Trade Centre, Mumbai|WTC Complex]], [[Cuffe Parade]]
| hq_location_city = [[Colaba]], [[Mumbai]], [[Maharashtra]]
| hq_location_country = India<ref>{{cite web |title=Contact Us |url=https://www.idbi.com/contact-us.asp |website=IDBI Bank |access-date=29 January 2019}}</ref>
| key_people = {{Unbulleted list
|M. R. Kumar 
{{small|([[Chairman]])}}
|Rakesh Sharma 
{{small|([[Managing director|MD]] & [[CEO]])}}
}}
| products = {{ubl|[[Investment Banking]]|[[Consumer Banking]]|[[Commercial Banking]]|[[Retail Banking]]|[[Banking]]|[[Asset Management]]|[[Pensions]]|[[Mortgages]]|[[Credit Cards]]}}
| brands =
| services =
| revenue = {{decrease}} {{INRConvert|24504|c}} (2021)
| operating_income = {{increase}} {{INRConvert|2484|c}} (2021)
| net_income = {{increase}} {{INRConvert|1514|c}} (2021)
| assets = {{decrease}} {{INRConvert|300713|c}} (2021)
| equity = {{decrease}} {{INRConvert|24455|c}} (2020)
| num_employees = 18,000
| num_employees_year = March 2019
| owner =
*[[Life Insurance Corporation]] (49%)
| parent =
| divisions =
| subsid = {{Bulleted list|IDBI Capital Markets & Securities|IDBI Intech|IDBI Asset Management|IDBI MF Trustee Company|IDBI Trusteeship Services|IDBI Federal Life Insurance Company<ref>{{cite web |title=IDBI Group |url=https://www.idbi.com/idbi-group.asp |website=IDBI Bank |access-date=29 January 2019}}</ref>}}
| module = 
| ratio = 13.31%
| rating = 
| website = {{URL|https://www.idbibank.in}}
| footnotes =
}}
'''Industrial Development Bank of India''' ('''IDBI Bank Limited''' or '''IDBI Bank''' or '''IDBI''') was established in 1964 by an [[Act of Parliament|act]] to provide credit and other financial facilities for the development of the fledgling Indian industry. It is a [[Development finance institution|development finance institution]] and a [[subsidiary]] of [[Life Insurance Corporation]]. Many national institutes find their roots in IDBI like [[SIDBI]], India Exim Bank,<ref>[https://www.eximbankindia.in/ India Exim Bank]</ref> [[National Stock Exchange of India]] and [[National Securities Depository Limited]].

Initially, it operated as a subsidiary of the [[Reserve Bank of India]] and later RBI transferred it to the [[Government of India]]. On 29 June 2018, [[Life Insurance Corporation of India]] (LIC) got a technical go-ahead from the Insurance Regulatory and Development Authority of India (IRDAI) to increase stake in IDBI Bank up to 51%.<ref>{{cite web | url=https://economictimes.indiatimes.com/markets/stocks/news/irdai-clears-lic-idbi-bank-deal-issuer-to-invest-rs-10000-13000-crore-in-tranches/articleshow/64795569.cms | title=IRDAI clears LIC IDBI Bank Deal| publisher=economictimes.indiatimes.com | date =29 June 2018 | access-date= 1 July 2018}}</ref> LIC completed the acquisition of 51% controlling stake on 21 January 2019 making it the majority shareholder of the IDBI Bank. Reserve Bank of India clarified, via a press release dated 14 March 2019, that IDBI Bank stands re-categorized as a Private Sector Bank for regulatory purposes with effect from 21 January 2019.

The bank has an aggregate balance sheet size of {{INR|3.74 trillion}} as on 31 March 2016.<ref>{{cite web |url=http://www.idbi.com/idbi-bank-about-us.asp |title=About us |publisher=IDBI Bank |access-date=22 February 2014}}</ref> It has 3,683 ATMs, 1,892 branches, including one overseas branch in [[Emirate of Dubai|Dubai]], 58 e-lounges and 1,407 centers as of 1 February 2020.<ref>{{cite web|url=https://www.idbibank.in/branch-atm.asp |title = IDBI Bank Branch & ATM Locator|publisher=IDBI Bank |access-date=1 February 2020}}</ref>

==History==

===Overview of development banking in India===
Development Banking emerged after the [[Second World War]] and the [[Great Depression]] in the 1930s. The demand for reconstruction funds for the affected nations compelled in setting up of national institutions for reconstruction. At the time of Independence in 1947, 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 of India|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. Specialized Development Financial Institutions (DFIs) such as the IDBI, [[NABARD]], [[National Housing Bank|NHB]] and [[SIDBI]] were set up to meet the long-term financing requirements of industry and agriculture.

===Formation of Industrial Development Bank of India (IDBI)===
The Industrial Development Bank of India (IDBI) was established in 1964 under an [[Act of Parliament]] as a wholly-owned subsidiary of the [[Reserve Bank of India]]. In 1976, 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 and also for expansion, modernization, and diversification purposes. In the wake of financial sector reforms unveiled by the government since 1992, 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 the sale of indigenous machinery on deferred payment terms.{{Citation needed|date=August 2011}}

After the public issue of IDBI in July 1995, the government shareholding in the bank came down from 100% to 75%.

IDBI played a pioneering role, particularly in the pre-reform era (1964–91), in catalyzing broad-based industrial development in India in keeping with its Government-ordained 'development banking' charter.{{Citation needed|date=August 2011}} Some of the institutions built with the support of IDBI are the [[Securities and Exchange Board of India]] (SEBI), [[National Stock Exchange of India]] (NSE), the [[National Securities Depository Limited]] (NSDL), the [[Stock Holding Corporation of India Limited]] (SHCIL), the Credit Analysis & Research Ltd, the [[Exim Bank (India)]], the [[Small Industries Development Bank of India]] (SIDBI) and the Entrepreneurship Development Institute of India.

===Conversion of IDBI into a commercial bank===
A committee formed by RBI recommended the development financial institution (IDBI) to diversify its activity and harmonize the role of development financing and banking activities by getting away from the conventional distinction between commercial banking and developmental banking.
To keep up with reforms in financial sector, IDBI reshaped its role from a development finance institution to a commercial institution. With the ''Industrial Development Bank (Transfer of Undertaking and Repeal) Act'', 2003, IDBI attained the status of a limited company viz., IDBI Ltd.

Subsequently, in September 2004, the [[Reserve Bank of India]] incorporated IDBI as a 'scheduled bank' under the ''RBI Act'', 1934. Consequently, IDBI formally entered the portals of banking business as IDBI Ltd. from 1 October 2004. The commercial banking arm, IDBI BANK, was merged into IDBI in 2005.

===Acquisition of United Western Bank===
In 2006, IDBI Bank acquired [[United Western Bank]] (headquartered at [[Satara district|Satara]]) in a rescue. By acquiring UWB, IDBI Bank doubled the number of its branches from 195 to 425.<ref name=History>{{cite web |url=http://www.idbi.com/idbi-bank-history.asp |title=History |publisher=IDBI Bank |access-date=22 February 2014}}</ref><ref>{{cite news |url=http://www.rediff.com/money/2006/sep/12bank.htm |title=United Western Bank to merge with IDBI |newspaper=Rediff.com |date=13 September 2006 |access-date=22 February 2014}}</ref>

===Privatisation: Sale to LIC===
LIC of India completed the acquisition of 51% controlling stake in IDBI Bank on 21 January 2019 making it the majority shareholder of the bank. Subsequent to the enhancement of equity stake by LIC of India on 21 January 2019, Reserve Bank of India has clarified vide a Press Release dated 14 March 2019, that IDBI Bank stands re-categorized as a Private Sector Bank, with retrospective effect from 21 January 2019.

==Listings and shareholding==
IDBI Bank's equity shares are listed on [[Bombay Stock Exchange]] and the [[National Stock Exchange of India]].<ref>{{cite web |url=http://www.bseindia.com/stock-share-price/idbi-bank-ltd/idbi-bank/500116/ |title=IDBI Bank|publisher=BSEindia.com |access-date=22 February 2014}}</ref><ref>{{cite web |url=http://www.nseindia.com/live_market/dynaContent/live_watch/get_quote/GetQuote.jsp?symbol=IDBI |title=IDBI Bank |publisher=NSE India |access-date=22 February 2014}}</ref>

As of 22 January 2019, [[Government of India]] held 46.46% shares in IDBI Bank.

==Employees==
As of 31 March 2015, the bank had 16,555 employees, out of which 197 were employees with [[disability|disabilities]].<ref name=IDBIAR2012-13>{{cite web |url=http://www.idbi.com/pdf/annualreport/Anual-Report-2012-2013-07082013.pdf |title=Annual Report 2012-13 |publisher=IDBI Bank |access-date=22 February 2014}}</ref> The average age of bank employees on the same date was 34 years.<ref name=IDBIAR2012-13/> The bank reported a business of ₹25.64 crores per employee and a net profit of ₹12.17 lakhs per employee during the FY 2012–13.<ref name=IDBIAR2012-13/> The company incurred a loss of ₹1,538 crores towards [[employee benefit]] expenses during the same financial year.
As promised by the bank's MD and CEO the employees will keep getting the same benefits and enjoy the same job security even after LIC getting the promotor status.

==IDBI Intech==
{{Infobox company
| name = IDBI Intech Ltd.
| logo = [[File:Idbiintech logo.gif|IDBI Intech logo]]
| type = [[Subsidiary]]
| website = [http://www.idbiintech.com IDBI Intech]
| foundation = March 2000
| location = [[Navi Mumbai]], [[India]]
| parent = [[IDBI Bank]]
| industry = [[Computer services|IT Solutions & Services in Banking and Finance services]]
| services = [[Information Technology Consulting|IT Consulting]] [[IT Services]] [[Outsourcing]] [[Software|Software Products]]
| num_employees = 900 (As on 31 March 2012)
}}

'''IDBI Intech Ltd.(IIL)''' is a wholly owned subsidiary of [[IDBI Bank]], established in 2000.<ref>[http://www.idbiintech.com IDBI Intech Official Website]</ref>

It provides IT related services in the area of [[Consultancy]], System Integration, System implementation & support, Applications & Server hosting and other IT related managed services and specialized training.<ref>[http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/IDBI-to-ramp-up-IDBI-Intech/articleshow/1760462.cms IDBI to ramp up IDBI Intech]</ref><ref>[http://www.indiainfoline.com/Markets/News/IDBI-Bank-wins-Asian-Banker-Technology-Implementation-Award-2011/5131661227 IDBI Bank wins Asian Banker Technology Implementation Award 2011]</ref>

IDBI Intech has been accredited with ISO 9001:2000 certification for IT-related services including Data Center Management and Call Center, and also Certified IT Security Auditing Organisation with the [[Indian Computer Emergency Response Team]] (CERT-In).<ref>http://www.cert-in.org.in/panelofauditors.htm</ref>

==Awards and recognitions==
* IDBI Bank ranked #1197 in the [[Forbes Global 2000]] in May 2013.<ref>{{cite web |url=https://www.forbes.com/companies/idbi-bank/ |title=IDBI Bank on the Forbes Global 2000 List |work=Forbes |date=May 2013 |access-date=18 February 2014}}</ref>
* It received the 'Overall Best Bank' and 'Best Public Sector Bank' awards in the Dun & Bradstreet Banking Awards, 2011.<ref>{{cite news |url=http://www.business-standard.com/article/press-releases/idbi-bank-wins-dun-bradstreet-banking-awards-2011-for-overall-best-bank-best-public-sector-bank-111090500107_1.html |title=IDBI Bank Wins Dun & Bradstreet Banking Awards 2011 for Overall Best Bank & Best Public Sector Bank |newspaper=Business Standard|date=5 September 2011 |access-date=22 February 2014}}</ref>
* In 2011, it received Banking Technology awards for best use of Business Intelligence and the best Risk Management from Indian Banks Association.<ref>{{cite web |url=http://www.business-standard.com/article/press-releases/idbi-bank-bags-iba-s-prestigious-banking-technology-awards-111030400123_1.html |title=IDBI Bank bags IBA's prestigious Banking Technology Awards |work=Business Standard|date=4 March 2011 |access-date=22 February 2014}}</ref>

==See also==
{{Portal|Banks}}
* [[Banking in India]]
* [[List of banks in India]]
* [[Reserve Bank of India]]
* [[Indian Financial System Code]]
* [[List of largest banks]]
* [[List of companies of India]]
* [[Make in India]]
* [[IDBI Federal Life Insurance]]
* [[IDBI Intech Ltd.]]

==References==
{{reflist|2}}

==External links==
* {{Official}}

{{Banking in India}}

{{DEFAULTSORT:Idbi Bank}}
[[Category:Public Sector Banks in India]]
[[Category:Banks established in 1964]]
[[Category:Banks based in Mumbai]]
[[Category:Indian companies established in 1964]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Private sector banks in India]]
[[Category:Life Insurance Corporation]]
[[Category:1964 establishments in Maharashtra]]

IDBI Bank - Revision history

AngleaDeason621: fix intro to improve readability

CleanupBot II: Removed empty portal template using script

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