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The IDBI Bank Limited (IDBI Bank or IDBI) is a Scheduled Commercial Bank under the ownership of Life Insurance Corporation of India (LIC) and Government of India.It was established by Government of India as a wholly owned subsidiary of Reserve Bank of India in 1964 as Industrial Development Bank of India, a Development Finance Institution, which provided financial services to industrial sector.
IDBI Bank was categorised as a private bank with effect from January 2019 on account of LIC acquiring the shares from GoI. [7] On 30 August 2019, Minister of Finance Nirmala Sitharaman announced the government's plan for further consolidation of public sector banks. The mergers took effect from 1 April 2020. [8] Allahabad Bank was merged into ...
Major disinvestment steps were taken in the past by the BJP-led NDA government between 1999 and 2004. BJP privatised the central government establishments such as central public sector units which included Bharat Aluminium Company (BALCO), Hindustan Zinc [4] (both to Sterlite Industries), Indian Petrochemicals Corporation Limited [5] (to Reliance Industries) and VSNL [6] (to the Tata group ...
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The disinvestment policy of the Vajpayee led NDA Government during 1999-2004 accelerated the disinvestment process in the country. The Government made a significant change in disinvestments, it was the same government that used the expression "Privatization" in place of disinvestment for the first time. The new method used by the government was ...
IDBI Bank is a Public Sector Bank which comes under the category of "Other Public Sector Bank" as per the directive of RBI. Regards, 13:40, 19 June 2011 (UTC)~~ Ayan Mukherjee — Preceding unsigned comment added by 180.215.36.96 ( talk ) 13:40, 19 June 2011 (UTC) [ reply ]
This page was last edited on 8 March 2013, at 17:53 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may ...
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