The Industrial Development Bank of India Ltd generally known as IDBI Bank is one of the India's leading public sector bank and also at the fourth place in the ranking. It was established on 1st July 1964 to provide credit and other facilities to the Indian Industries. It is also the tenth largest development bank in the world to reach with 486 centers, 725 branches and 1228 ATMs. There are some institutions like National Stock Exchange (NSE), National Securities Depository Services Ltd. (NSDL), Stock Holding Corporation of India (SHCIL), which have been made by IDBI. In January 1992, IDBI has contacted to domestic retail debt market for the first time, with innovative Deep Discount Bonds, and registered path-breaking success.
In September 1994, in reaction to RBI's policy of opening up domestic banking sector to private participation, IDBI set up IDBI Bank Ltd, in alliance with SIDBI. The Subsidiaries of IDBI Bank is IDBI Capital Market Services Limited, IDBI Home Finance Limited, IDBI Intech Limited and IDBI Gilts Limited. There are 8,989 employee worked in this bank. In September 2003, IDBI obtained the entire shareholding of Tata Finance Limited in Tata Home Finance Ltd.
The Board of Directors of IDBI and IBDI Bank have approved the joining of IDBI Bank with the Industrial Development Bank of India Ltd on July 29, 2004. IDBI Bank has also attained United Western Bank in 2006. IDBI bank offers to its customers a broad range of products and services. There are also facilitating with different type of product and services like Personal Banking, Corporate Banking, SME Finance and Agri Businesses for different groups of customer.
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