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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.
Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that customers ...
IDB Bank (IDB) is an American multinational private bank, commercial bank and financial services company headquartered in New York City with locations in the United States, Latin America and Israel. It is chartered by the State of New York and a member of the Federal Deposit Insurance Corporation .
Rakesh Sharma (born 2 July 1958) is an Indian banker who is the Managing Director & Chief Executive Officer of IDBI Bank. [1] Sharma was the MD and CEO of Lakshmi Vilas Bank and Canara Bank. He has also held positions at State Bank of India during his 33-year tenure with the lender. [2]
Small Industries Development Bank of India (SIDBI) is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India. It is under the jurisdiction of Ministry of Finance , Government of India headquartered at Lucknow and having its offices all over the country.
United Western Bank (UWB) was an Indian bank founded in 1936 that IDBI Bank acquired in 2006 in a rescue. [1] The Reserve Bank of India placed UWB under a moratorium to protect the interest of public and depositors as growing losses eroded its capital.
The bank achieved a profit after tax (PAT) of ₹ 2,957 crore (US$340 million) crore in the financial year 2024, maintaining a capital adequacy ratio of 16.82%. The bank's retail loans showing a gross non-performing asset (NPA) ratio of 1.88% and a net NPA ratio of 0.60% as of 31 March 2024. [54]
Immediate Payment Service is managed by the National Payments Corporation of India (NPCI) and is built upon the existing National Financial Switch network. In 2010, the NPCI initially carried out a pilot for the mobile payment system with 4 member banks (State Bank of India, Bank of India, Union Bank of India and ICICI Bank), and expanded it to include Yes Bank, Axis Bank and HDFC Bank later ...