IDBI Full Form & History
The IDBI Full Form is the Industrial Development Bank of India. IDBI is one of the Largest Public Sector Banks in India. Established in 1964, the Main AIM of this Bank Was to Provide Credit and Financial Support for the Development of the Indian Industry.
Initially, the Industrial Development Bank of India operated as a subsidiary of the Reserve Bank of India. Later the Bank was transferred to the Government of India. IDBI offers various Banking and Financial Services to Its Customer which Includes Saving/Current Account, FD, RD, Loans, Debit card, Credit card, Internet Banking & More. The Bank has More than 3,683 ATMs and 1,892 branches Spread all over the Country with one Overseas Branch in Dubai.
Now that we know the IDBI Full Form, Let us Know More about Its History and Development of Banking in India. After the Independence, our Country Doesn’t Have a Proper Banking System. Most of the Population Had to Depend on Small Money Lenders to Fulfill Their Living Requirements.
To Improve the Financial Stability in the Country, Government Started Working on the Expansion of Commercial Banking to Meet the Capital requirement of industry and agriculture. The Government of India Setup IDBI bank as a Specialised Development Financial Institutions to Meet the Long Term Financial Requirement of Industries in the Country.
IDBI Provides Financial Assistance to Different Green Field Projects in the Country for Their Development. In July 1995 the IDBI bank First Public Issue was Taken Place. After the Issue, the Government Shareholding was Came Down to 75% From 100%.
IDBI Bank Privatization
In 2019 the Life Insurance Corporation of India ( LIC ) Acquired a 51% Stake in IDBI Bank. On 14 March 2019, the Reserve Bank of India Declared IDBI as a Private Sector Bank for regulatory purposes. The Government Now Holds a 46 % stake in the bank.
Product & Services Offered by IDBI bank
Banks play an Important Role in the Economic Development of any Country. IDBI Bank offers Multiple Banking & Financial Services which Promote their Customers in living a quality life. Here the List of Services Offered by the Bank.
- Investment Banking Solutions
- Digital Banking
- Saving Account
- Current Account
- Credit cards & debit cards
- Government Schemes and More
IDBI Customer Care helpline Number 24×7
IDBI Offers Complete Customer care Support in case of any Banking Queries or Problem. You can get in touch with Customer Executive through Phone, Email, or by Visiting Nearest IDBI Branch.
- Dial 1800 425 7600 From Your Registered Mobile Number.
- Get in touch with Customer Care through Email firstname.lastname@example.org
We Hope this Article Clears Your Query Related to the IDBI Full Form. If You have any Question Related to the Industrial Development Bank of India, Please Share with us in the comments below. We are always delighted to Help You.