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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 ...
IDBI Bank - 51% majority sold to LIC in 2019; Following Airports: Jaipur International Airport – owned and operated by public–private consortium led by Adani Group; Cochin International Airport; Mangalore International Airport – owned and operated by public–private consortium led by Adani Group
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 ...
Disinvestment from Israel, a movement by critics of Israel (since 1920s) Disinvestment from South Africa in the former era of apartheid (1960s-1990s) [3] Tobacco industry divestment, coordinated by the NGO Tobacco-Free Portfolios (since 2000s) Fossil fuel divestment in response to global warming, coordinated by the NGO 350.org (since 2010s)
Both current account and savings accounts can be operated by such banks. Payments banks can issue ATM cards or debit cards and provide online or mobile banking. Bharti Airtel set up India's first payments bank, Airtel Payments Bank .
The Life Insurance Corporation of India (LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai.It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹ 52.52 trillion (US$610 billion) as of March 2024. [4]