IDBI was a wholly owned subsidiary of RBI up to February 1976. It was delinked from RBI w.e.f. February 1976 and was made an autonomous corporation fully owned by the Government of India. The IDBI is the apex financial institution and besides providing financial assistance on consortium basis, the major function of coordination between the various institutions is looked after by the bank. It also provides refinance facility to the eligible financial institutions including term loans. The bank sanctions the financial assistance to the industrial concerns engaged in the manufacture or processing of goods, mining, transport generation and distribution of power etc. both in private and public sectors. There is no restriction on the quantum of assistance or the maximum or minimum limits.
Mr. V.P. Shetty, is the Chairman & Managing Director of the Industrial Development Bank India. Industrial Development Bank India or IDBI, incorporated in 1964, has been playing an important role in the evolution of Indian industrial sector and is at present the tenth largest development bank of the world. The primary purpose of the Industrial Development Bank India is to cater the requirement of credit and other products for the growth of the Indian industry. The institutions like the National Stock Exchange of India (NSE), the National Securities Depository Services Ltd. (NSDL) and the Stock Holding Corporation of India (SHCIL) are built by the Industrial Development Bank of India. Currently the IDBI hosts nearly 7500 employees at different branches.
Activities : IDBI
- Deposits : savings account, current accounts, fixed deposits, suvidha tax saving fixed deposit, suvidha plus fixed deposit, pension accounts, sabka account
- Loans : loans for education, home, against securities, personal loan, IPO finance
- Payments : tax, stamp duty, cash to card money transfer, online payments
- Investments : demat account
- Insurance : family care, life insurance
- Cards : Gold Debit Card, International Debit cum ATM Card, Gift Card, World Currency Card
- Treasury products : foreign exchange, money market
- Corporate banking : project finance, film financing, corporate loan, TUFS, rehabilitation finance, commercial products
Registered Office :IDBI Towers,
World Trade Center, Cuffe Parade,
Fax : 022-22160785