Industrial Development Bank of India or IDBI is a Scheduled Commercial Bank under the ownership of Life Insurance Corporation of India (LIC) and Government of India.
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The Saga of IDBI Bank
1 min read
Category
Company Brands & Tech Giants
Era / Tenure
Historic Legacy
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ORIGINS & BACKGROUND
Profile & Early Foundations
Industrial Development Bank of India or IDBI is a Scheduled Commercial Bank under the ownership of Life Insurance Corporation of India (LIC) and Government of India.
THE JOURNEY & BREAKTHROUGHS
Major Works & Significant Milestones
It was established by Government of India as a wholly owned subsidiary of Reserve Bank of India in 1964, IDBI as a development finance institution, which provided financial services to industrial sector.
Key Milestone & Career Defining Moment
It was established by Government of India as a wholly owned subsidiary of Reserve Bank of India in 1964, IDBI as a development finance institution, which provided financial services to industrial sector.
— Official Historical Record & Archive
SUCCESS & ENDURING LEGACY
Honours, Standing & Enduring Legacy
In 2005, the institution was merged with its subsidiary commercial division, IDBI Bank, and was categorised as "Other Public Sector Bank" category.
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