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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.
2012: Scheme of Amalgamation of M/s India Fund Management Limited, a wholly owned subsidiary of the bank with Indian Bank. 2020: - 1 April 2022, Indian Bank and Allahabad Bank merged. The oldest Joints Stock Bank in the country, Allahabad Bank, was founded on April 24 1865 by a group of Europeans at Allahabad, at a juncture when organized ...
2006 – 07 Net Profit reached INR 1000 Cr.(US$229.78 Mn) [1USD= Rs. 43.5200] Bharat Overseas Bank Ltd. Was merged with IOB and First Offsite ATM at Kamatchi Hospital, Chennai; 2009 – 100% CBS; 2010 – 2000th Branch -Yamuna Vihar, New Delhi-opened; 2011-12 – No. of Branches in Tamil Nadu reached 1000, and IOB celebrated Platinum Jubilee ...
SMERA Ratings Limited (SMERA) [19] – for credit rating of MSMEs, renamed as Acuite Ratings & Research Limited.; [21] India SME Technology Services Ltd (ISTSL) [19] – for technology advisory and consultancy services and; India SME Asset Reconstruction Company Ltd. (ISARC) [19] for speedier resolution of Non-Performing Assets (NPA) in the ...
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]
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 ...
Headquartered in Mumbai, the mandate of the IFTAS is to provide IT-related services to the RBI, banks and other financial institutions. [18] Services like Indian Financial Network (INFINET), [19] Structured Financial Messaging System (SFMS) [20] and the Indian Banking Community Cloud (IBCC) [21] have been handed over to IFTAS with effect from 1 ...
Corporation Bank [2] was a public-sector banking company headquartered in Mangalore, India. The bank had a pan-Indian presence. The bank had a pan-Indian presence. Presently, the bank has a network of 2,432 fully automated CBS branches, 3,040 ATMs , and 4,724 branchless banking units across the country. [ 3 ]