IDBI FULL FORM: (Industrial Development Bank of India).
Today we are going to learn about the IDBI full form and complete detail about IDBI like when IDBI was established, founder, ownership, and more information. Let start the article now.
IDBI FULL FORM:
The IDBI Full Form is the Industrial Development Bank of India. This is established in the year 1964 July 1. Headquarter present in Mumbai. It is a national bank. We can also say this bank is a public sector bank.
This bank is the financial principle of the institute. To coordinate the activities of financing promoting, developing industries.
History of IDBI (Full Form):
This IDBI bank was made with the help of Act “IDBI Act 1964”, which is passed in the parliament of India. It is a wholly-owned subsidiary of RBI. In the year 1976 Feb 16, the ownership was transferred from RBI to the central government of India.
The employees which are working in the IDBI bank, these employees are called central government employees because the owner of this bank is the central government. 77 percentage of the IDBI shares is the central government.
The remaining shares are of the Bombay stock exchange and national stock exchange.
Deep information about IDBI Bank:
- IDBI is one of the 27 commercial banks that is owned by the Indian government.
- It is the 10th largest development bank in the industrial development field in the world.
- IDBI has three thousand ATMs. It has 1746 branches all over the world including a branch which is present in Dubai.
- IDBI has a total of 1285 centers all over the world including Singapore and Beijing.
- It is the same as SBI because ownership of SBI is the central government.
- Reserve Bank of India made a committee with chairman S H Khan for recommended the transfer of IDBI from a developmental bank to a commercial bank.
- With the help of act 2013 (transfer of undertaking and repeat), the IDBI become IDBI Ltd.
- In 2006 the industrial development bank of India increased its branches from 195 to 425 by acquiring the united western bank Satara.
There is some financial institute built with the support of the Industrial Development Bank of India (IDBI).
- Securities and Exchange Board of India (SEBI).
- National Stock Exchange of India (NSE).
- National Securities Depository Limited (NSDL).
- Stock Holding Corporation of India Limited (SHCIL)
- Credit analysis and research limited
- Exim Bank.
- Small Industries Development Bank of India (SIDBI).
- Entrepreneurship Development Institute of India.
- 76.72 percentage of the shares are of the government of India.
- 8.75 percentage of the shares are off 4 lakh public shareholders.
- 12.32 percentage of the shares are of insurance companies.
- 7.21 percentage shares are others.
Awards and acknowledgments of IDBI full form:
- In Forbes global 2000 the IDBI ranked was 1197th in May 2013.
- IDBI awarded Overall Best Bank, Best Public Sector Bank, and Dun & Bank street Banking Awards in the year 2011.
- Banking Technology Awards from Indian banks association for best use of business and Risk Management Technologies.
Is IDBI bank is private or government?
IDBI bank is under the government. The employees which are working in the IDBI bank that employees are called government employees. It is a national bank.
Who is the CEO of IDBI Bank?
The CEO of IDBI bank is Rakesh Sharma from 10 October 2018.
The percentage share of the government of India in IDBI bank is almost 77 percent.
What is the IDBI long form?
The IDBI full form is the Industrial Development Bank of India.
Conclusion of IDBI full form:
We hope you guys have understood the IDBI full form and also other details which are mention above.