The Right To Information Act, 2005
The Particulars of Organization, Functions and Duties
Click hereto check a brief write up on the Bank / history since inception covering developments such as repeal of Industrial Development of India Act, amalgamation of IDBI Bank and United Western Bank, amalgamation of IDBI Homefinance Ltd. & IDBI Gilts Ltd., change of name of the Bank and acquisition of controlling stake by LIC
Industrial Development Bank of India Limited received the Certificate of Incorporation and Certificate for Commencement of Business from the Registrar of Companies, Maharashtra, Mumbai on September 27 and September 28, 2004, respectively. The Government of India, Ministry of Finance (Department of Economic Affairs, Banking Division) issued Notification dated September 29, 2004. The Reserve Bank of India on September 30, 2004 notified the Industrial Development Bank of India Limited as a Scheduled Bank and the banking business commenced from October 01, 2004.
The Reserve Bank of India classified Industrial Development Bank of India Limited as "Other Public Sector Bank" vide Notification No. DBOD.BP.1630/21.04.152/2004-05 dated April 15, 2005. The Ministry of Finance, Department of Financial Services, Government of India also notified on December 31, 2007 categorizing the Industrial Development Bank of India Limited under a New Sub-Group "Other Public Sector Banks". The Government of India vide letter no. 7/95/2005-BOA dated December 31, 2007, decided that the Industrial Development Bank of India Limited shall be treated on par with Nationalised Banks/ State Bank of India by the Government Departments / Public Sector Undertakings/ other entities for all purposes including deposits/ bonds / investments / guarantees etc. and Government business. On May 7, 2008, the Industrial Development Bank of India Limited was renamed as “IDBI Bank Limited” pursuant to the fresh Certificate of Incorporation issued by the Registrar of Companies, Maharashtra, Mumbai, in terms of section 21 of the Companies Act, 1956. The Reserve Bank of India, Mumbai, vide Notification No. DBOD.BP.BC.No.2101002/2007-08 dated May 16, 2008 (published in the Gazette of India (Part III – Section 4), dated June 14, 2008), stated that the name “Industrial Development Bank of India Limited” be substituted by “IDBI Bank Limited” in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934) with effect from May 7, 2008.Consequent upon LIC acquiring controlling stake in the Bank, Reserve Bank of India, vide its press release dated March 14, 2023 has re-categorized the IDBI Bank Limited as Private Sector Bank for regulatory purposes w.e.f. January 21, 2019.
The main objects of IDBI Bank Limited, inter alia, are as under:
- To establish and carry on business of banking in all forms within India and outside India,
- To finance, promote or develop industry and assist in the development of Industries.
For more details regarding main objects of IDBI Bank Ltd, refer Memorandum of Association.
To view Memorandum and Articles of Association, Certificate of Incorporation, Certificate of Commencement of Business and Fresh Certificate of Incorporation, click on the links given below.
- Memorandum of Association
- Articles of Association
- Certificate of Incorporation
- Certificate for Commencement of Business
- Fresh Certificate of Incorporation after change of name of the Bank
The organization structure indicating senior management and location of the Bank branches are given in link below.
IDBI Bank Limited consists of various business verticals, viz. Corporate Banking Group (CBG), Retail Banking Group (RBG), Priority Sector Group(PSG), International Banking Division (IBD), Treasury and other groups.