Home  »  Company  »  IDBI Bank Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

IDBI Bank Ltd. Company History and Annual Growth Details

1964

- The Company was Incorporated on 1st July, at Mumbai. The Bank was
established as a wholly owned subsidiary of the Reserve Bank of India
on 1st July, under a special statute, viz., Industrial Development Bank
of India Act.

1965

- With effect from 1st April, the Bank introduced a scheme for
rediscounting usance bills/promissory notes arising out of sale of
indigenous machinery on deferred payment basis.

- The Bank decided to supplement its refinance operations with a
measure of risk-sharing with other institutions on a systematic basis
and introduced a participation scheme for this purpose, with effect
from 1st April, 1966.

- The Development Assistance Fund was established on 27th March, in
terms of Notification dated 16th March, issued by the Government of
India.

1972

- The IDBI took initiative in establishing a technical consultancy
service centre at the State level in Kerala in February called the
Kerala Industrial and Technical Consultancy Organisation and
contributed 51% to its paid-up capital of Rs 2 lakhs.

1973

- North Eastern Industrial and Technical Consultancy Organisation, Ltd.
(NEITCO), was sponsored by the IDBI in May. Another technical
consultancy organisation, viz., Bihar Industrial and Technical
Consultancy Organisation, Ltd. (BITCO), was set up.

- Refinance facilities are provided to eligible banks, which are
authorised dealers in foreign exchange, against medium-term export
credits granted to exporters in the private sector, who are
manufacturers, recognised export houses or other exporters of standing.

- The Bank as a apex institution, has also been vested with the
responsibility of strengthening the resources position of the term
financing institutions with a view to enabling them to expand and
diversify their activities.

- The Bank received various lines of credit from IDA/World Bank from
time to time beginning from the year in US Dollars.

1976

- With a veiw to promoting fuller utilisation of capacity,
technological upgradation and export development, the Government of
India established in March, the Technical Development Fund (TDF).

- Two Seed Capital Assistance Schemes were introduced by IDBI during
the year viz. (i) SFC's Special Share Capital Scheme and (ii) IDBI's
own scheme.

1977

- IDBI introduced in January, at the instance of the Government of
India, a scheme for providing rupee assistance, to industrial units
receiving import licences, under the TDF.

- IDBI, apart from giving resource support for setting up of IFCI, UTI
and SFCs, helped in establishing Shipping Credit and Investment
Corporation of India, Ltd., Stock Holding Corporation of India Ltd.,
Securities and Exchange Board of India, Discount and Finance House of
India, Ltd., Tourism Finance Corporation of India Ltd., Over The
Counter (OTC) Exchange of India, Biotech Consortium India Ltd., and
Indian Investment Management Company Ltd.

1982

- 55,00,000 shares issued.

1983

- 130,00,000 shares issued.

1984

- IDBI introduced equipment finance scheme in September.

- 30,00,000 shares issued.

1985

- A new scheme known as Equipment Refinance Scheme was introduced with
effect from July 1st.

- The Bank introduced a new scheme called the Foreign Currency
Refinance scheme. Under this Scheme, the Bank would extend foreign
currency refinance facility to SIDCs/SIICs under the Bank's Normal
Refinance Scheme.

- A special scheme of assistance for installing in-house quality
testing facilities was introduced under SIDF. Presently, this scheme
is being operated by SIDBI.

- 30,00,000 shares issued.

1986

- Small industries development fund was set up in May to pay
concentrated attention to the provision of financial and non-financial
inputs to the small scale sector.

- 30,00,000 shares issued.

1987

- The National Equity Fund Scheme was introduced in August for
providing equity type support to new tiny and small scale industrial
units which are engaged in manufacturing activities and also for
rehabilitation of potentially viable sick SSI units.

- 20,00,000 shares issued.

1988

- 45,00,000 shares issued.

1989

- 97,00,000 shares issued.

1991

- With effect from 1st April, DAF was merged with the General Fund.

- The Bank's resources can be augmented through issue of bonds and
debentures with or without Government guarantee.

- IDBI introduced 3-year 9% capital for sale to the public in the
domestic market.

- 66,00,000 shares issued.

1992

- The Bank issued unsecured bonds for a minimum aggregate amount of Rs
300 crores as follows: Deep Discount Bond had a face value of Rs
1,00,000 was issued at a deeply discounted price of Rs 2,700 with a
maturity period of 25 years from the date of allotment, Double Option
Bond had a face value of Rs 5,000 bears an interest of 15% payable at
the end of 10th year on redemption with a premium of Rs 250 per bond.
Part A of Rs 5,000 and Part B of Rs 16,500 are tradable separately on
Stock Exchanges at Ahmedabad Mumbai, Bangalore, Calcutta, Delh and
Mumbai and Regular Return Bond had a face value of Rs 5,000 where
interest on principal sum is payable half-yearly. These bonds are
redeemable at a premium of 5% at the end of 10 years from the date of
allotment.

- The bank entered the area of merchant banking to provide professional
advice and services to industry for raising resources from capital
market, acquisition of assets on lease and mergers/take-overs of
existing units.

- The Bank set up a foreign exchange dealing room to deal with all
foreign exchange transactions. The bank had set up Investor Services
of India Ltd. with a view to providing registrar and transfer services
based on high technology system.

- In order to provide wider range of direct finance to meet the
specific requirements of clients, the bank introduced new products such
as Asset Credit and Equipment Finance. Also introduce equipment
leasing to meet the increasing demand for such services.

- 50,00,000 shares issued.

1993

- Authorised Capital reclassified. Equity Shares sub-divided.
2530,00,000 Pref. shares issued. Under Section 4 of IDBI Act, 1964,
Government of India by the notification in Official Gazette date
16.11.1994 converted 2530,00,000 No. of equity shares into Preference
shares.

1994

- The Bank obtained the membership of National Stock Exchange. IDBI
Bank Ltd. promoted and incorporated in September as a commercial bank
with an authorised capital of Rs 500.

- The Bank had set up a Mutual Fund as a trust with a view to offering
innovative investment products to investors backed by high quality
servicing.

- 17,30,93,300 shares allotted to public.

1995

- 17 New ventures were sanctioned. The beneficiary industries were
electronics, industrial automation, industrial products and machinery,
computer software etc.

- The bank entered into an Umbrella Grant Agreement with the World Bank
for US $ 50 million aimed at phasing out use of ozone Depleting
Substances in industry as part of ongoing efforts to reduce
environmental degradation.

- Loan was approved by the World Bank as part of the financial sector
development of select commercial banks underwrite the bank acts as pass
through Agent.

- The Bank offered 16,80,00,000 No. of Equity shares of Rs 10 each to
Public at a premium of Rs 120 each along with 1,44,20,000 No. of
equity shares of Rs 10 each at a price of Rs 130 per share was offered
for sale by Government of India. Out of the above 3,36,00,000 shares
offered to UTI, Exim Bank and IRBI.

- 5,80,000 shares offered to employees, 10,02,20,000 shares were
offered to public along with 19,78,000 shares not taken up in various
categories (all were taken up along with unsubscribed portion of shares
offered to other categories).

1997

- The Bank accepted 68 debenture trusteeship assignments in respect of
bonds and debentures aggregating to Rs 2,743 crores.

1997

- IDBI, became the first financial institution to apply NSDL as DP.

- IDBI has signed an agreement with National Securities Depository Ltd
(NSDL) to get its equity shares admitted for dematerialisation.

- IDBI has signed a $50-million bilateral seven-year loan facility
arranged by Asahi Finance Ltd with Asahi Bank Ltd, Hong Kong as the
lender.

- The Reserve Bank of India has shot down the IDBI's proposal to
privately place equity shares of its subsidiary, IDBI Bank, with the
shareholders of the financial institution.

- The largest financial institution of the country IDBI has merged its
foreign exchange and domestic treasury operations following rapid
deregulation of the money and foreign exchange markets in the country.

- The 500 MW Pench thermal power project, promoted by Pench Power Ltd,
has tied up its financing arrangement with IDBI.

- The IDBI has signed a $150 million line of credit with the
Export-Import Bank of Japan (EXIM-J) at Tokyo.

- IDBI is set to become the first all-India financial institution to
float capital gains bonds.

1998

- The Industrial Development Bank of India (IDBI) has commissioned a
study on the country's debt market.

- The IDBI has tied up a $150 million line of credit with the Export
Import Bank of Japan for financing Indo-Japanese joint venture projects
in India.

- The IDBI is set to enter the capital market with a mega Rs
1,000-1,500 crore debt issue (Flexibond 4). This will be IDBI's maiden
retail issue in the current fiscal.

- American Express Bank, the travel related and financial services
company, has entered into a strategic alliance for financial services
with IDBI Bank.

- IDBI Bank has entered into a strategic alliance with leading travel
and financial service company American Express Bank.

- The Industrial Development Bank of India would enter the capital
market with a public issue of four crore shares with a face value of Rs
40 crore.

- IDBI may tie the knot with US based $75.9 billion Principal Financial
Group for management of provident & pension funds in the country.

- The Industrial Development Bank of India has tied up with 8
commercial banks for extension of loans against its Flexibonds V issue
slated to be launched from December 21.

1999

- IDBI Bank Ltd, came out with a maiden public offering of four crore
equity shares of Rs 10 each at a premium of Rs 8 per share aggregating
Rs 72 crore, said four lakh shares were reserved for its employees and
another 40 lakh shares were reserved for IDBI's equity holders on a
competitive basis. The issue will close on February 16, 1999. The
shares are proposed to be listed on BSE, NSE, and the Indore Stock
Exchange.

- IDBI Bank, promoted by two premier financial institutions -
Industrial Development Bank of India (IDBI) and Small Industries
Development Corporation of India (SIDBI) - is coming out with a public
issue of 40 million equity shares of Rs.10 each at a premium of Rs.8
per share aggregating Rs.72 crores.

- THE IDBI is all set to launch the sixth issue of Flexibonds, from
February 22 to mobilise Rs. 1,500 crores, inclusive of a greenshoe
option of Rs. 750 crores.

- American Express Bank (Amex) has entered into a strategic alliance
with IDBI Bank for its personal financial services (PFS) division to
jointly explore the development of products such as smart card and
debit card, and market complementary products and services to customers
of both the banks.

- The Board for Industrial and Financial Reconstruction (BIFR) has
declared ATV Projects a sick company and appointed IDBI as operating
agency (OA) for preparing the rehabilitation package for the company.

- IDBI has succeeded in entering into one-time settlement for 77 cases
for fiscal year 1998-99 as compared to 45 cases in the previous year.

- The IDBI has decided to enter the market for the first time this
fiscal to borrow Rs 1500 crore through its Flexibond-VII issue.

- A Memorandum of Understanding (MoU) between IDBI and Principal
Financial Group was signed in Mumbai.

2000

- The Company proposal for the forfeiture of 3,03,100 No. of equity
shares of Rs. 10/- each for non-payment of allotment money.

- The Bank has been made the nodal agency for disbursing the Montreal
Protocol-approved $80 million compensation package to four Indian
companies, including SRF Ltd., and Gujarat Flurocarbonds.

- IDBI and CIDC would set up a joint working group to chalk out
modalities for lending to the construction industry and risk assessment
of the business.

- The Company has proposed to undertake a capital restructuring
exercise to reduce the Government stake to 51 per cent through an
American Depository Share issue.

- IDIB Principal Asset Management Company, the 50:50 joint venture
between Industrial Development Bank of India and Principal Financial
Group-USA, has brought about several changes in its top management.

- The company is launching a special deposit scheme- IDBI Suvidha - to
mop-up Rs 2,200 crore worth of outflow on account of premature
redemption of the discount bonds issued five years back.

- Crisil has assigned the highest safety rating of 'AAA' to various
bonds issue of the company.

- Crisil has assigned the highest safety rating of 'AAA' to various
bonds issue of the company.

- IDBI has become the first all-India financial institution to qualify
for the ISO 9002 certification for its treasury operations.

- Industrial Development Bank of India and the Export-Import bank of
the United States have signed an memorandum of understanding for
financing in the amount of $300 million to support import of US-sourced
goods for Indian borrowers.

- Hughes Tele.com (India) has tied up a Rs 250-crore loan with the
Industrial Development Bank of India.

- The Industrial and Development Bank of India has sold 36,500 No. of
equity shares of Pan Foods Ltd. to the promoters at a price of Rs 10
per share.

- Industrial Development Bank of India (IDBI), one of the country's
leading financial institutions, launched a novel investment concept of
asset allocation 'future goals' in a 50:50 joint venture with the
US-based principal Financial group.

- IDBI has appointed I-Flex Solutions Ltd, the information technology
arm of Citibank, to implement an integrated banking solutions package
in a phased manner over 12-18 months.

- Industrial Development Bank of India has set up two internal task
forces, one to explore opportunities to enter the insurance sector,
while the other to lead IDBI Intech, a newly form IT subsidiary.

- Industrial Development Bank of India is considering hiving off its
venture capital scheme as a separate company before the end of the
year.

- 18,074,300 partly paid up equity shares of face value of Rs 10/- each
were forfeited on August 25. Consequently, (i) the aggregate face
value of Rs 180,743,000 has been reduced from the Subscribed and Paid
up equity capital, (ii) allotment money in Arrears of Rs 135,557,250
has been written down fully and (iii) Forfeited shares account has been
credited by Rs 45,185,750 being the amount actually paid up on the
forfeited shares.

- The Bank is re-entering the retail market after about eight months,
with its Flexibonds-9 issue.

- The Company proposes to exercise the call option and redeem Easy Exit
Bond and Regular Income Bond at face value plus interest accrued and
outstanding at the end of 5 years from the date of allotment, i.e.
March 18, 2001.

- IDBI issued bonus equity shares in the ratio of 3:5 that is, three
bonus shares for every five equity shares held.

2001

- India Post and Industrial Development Bank of India (IDBI) Principal
Asset Management Company have entered into a joint partnership to make
available current and future investment opportunities through post
offices across India.

- The Industrial Development Bank of India and Morgan Guaranty Trust
Company of New York have entered into a long-term rupee interest rate
swap.

- The Industrial Development Bank of India has launched a new company -
'IDBI Trusteeship Services Ltd.' for carrying out trusteeships and
other related business.

- Industrial Development Bank of India has formed a new company -- IDBI
Trusteeship Services Ltd. for carrying out trusteeship and related
businesses.

- IDBI has sold 1,40,845 No. of equity shares for Rs 15 each of Pennar
Profiles to P Udaya Bhaskara Reddy, a strategic investor, as part of
the arrangements enteredinto by the promoters of Pennar Profiles with
IDBI.

- The Bank has launched a non-convertible debentures issue to raise at
least Rs 500 crore.

- The Government has re-appointed Mr S.K. Chakraborty as the acting
Chairman and Managing Director of Industrial Development Bank of India
(IDBI). Mr Chakraborty has been given an extension of three months
beginning May 1 or till a regular CMD is appointed.

-Credit Rating and Information Services of India Ltd (Crisil) has
downgraded the outstanding bond issues and the certificate of deposit
programme of the Industrial Development Bank of India.

-Industrial Development Bank of India has picked up over 30 per cent
equity stake in a Chennai-based high-end animation and motion graphics
company, MUV Technologies, by investing Rs 2.7 crore. MUV Technologies,
which has already set up the studio, is engaged in the development,
production and creation of high concept, professional computer
animation, visual effects and motion graphics.

- The Credit Rating Information Services of India Ltd (Crisil) has
assigned a rating of AA+, indicating high safety to the the
Industrial Development Bank of Indias (IDBI) Rs 2,500-crore
Flexibonds and Rs 6,343 crore Omni bonds programme

- IDBI bank has plans to open over200 atms soon in a bid to expand its
operations in India and thus position itself to become a fast growing
entity.

-The Finance Ministry did a last-minute volte face on July 30, asking
Mr S.K. Kapur to temporarily head the Industrial Development Bank of
India (IDBI). This is the fourth time that the Ministry has hesitated
from appointing a full-time Chairman for the top term-lender.

2001

- India's largest term lender Industrial Development Bank of India
raised Rs 55 crore ($11.68 million) through a private placement of
90-day commercial paper, debt dealers said.

2002

- Industrial Development Bank of India has informed that Mr T M
Nagarajan has been appointed as Whole Time Director (designated as
Deputy Managing Director) of IDBI for the period from the date of
taking charge and upto September 30,2002.

-Industrial Development Bank of India has informed that Govt of India, vide notification dated July 19, 2002 has appointed Shri D C Gupta, Secretary Financial Sector, Ministry of Finance, Dept of Economic Affairs as a Director on the Board of Industrial Development Bank of India wef July 19, 2002.

-Industrial Development Bank of India has informed BSE that the shareholders other than Central Government have elected the following three Directors in the AGM held on August 02, 2002

Mr Ravi Veera Gupta
Mr Manohar Gopal Bhide
Mr Jamshed J Irani

-Appointed as the lead manager to the 1000 mw Maithon Power Company

-Board accords in-principal approval for group's entry into non-life/reinsurance broking business

-Receives from the Asian Development Bank a line of credit worth $100 million

-Slashes interest rates on Flexibonds by 25 basis points

-Gives revamping package for Natco Pharma Ltd.

-Enters domestic market with Omni bonds worth Rs 250 cr

-Sets up a body of Rs 100 crore exclusively for providing support to the film industry

-Promoters of Visaka Industries Ltd buy-back 4,63,858 equity shares of face value Rs.10/- each held by Industrial Development Bank of India at a price of Rs.23/- per share

-ICRA assigns downward rating to IDBI long-term programmes

-FIs, banks given more power to recover NPAs through Asset Reconstruction Ordinance

-Comes out with the issue of Flexibonds-14 with four bonds on July 26 to collect a total of Rs 200 crore

-Refuses to accept GE-Bechtel offer to restart Dabhol Power Company (DPC)

-Mops up Rs 337 cr by securitising loans to three firms

-Buys back Float Rate Notes of $250 mn

-Hits market with 9.4% interest for five-year retail bonds

-Reports drop in non-performing assets (NPAs) at Rs 1,300 crore

-Raises Rs 415 cr through Flexibonds-15

-Government gives nod for the restructuring package for the company by repealing the IDBI Act and facilitating the conversion of the development financial institution into a stand-alone bank

-Endorses proposal to purchase DPC power at Rs 2.80/unit

-Reduces Flexibonds interest rate by 25-85 basis points

-Sells 2,98,174 fully paid equity shares of Rs 10/- each of Infotech Enterprises, reduces the holding in the company to 4.51%

2003

-Refunds $100,000 deposit amount to DPC bidders with a view to sell assets of DPC

-IDBI board okays 50 % Asset Management Company (AMC) stake sell off to Principal Financial Group of the USA

-Offloads 25 lakh Discount and Finance House of India (DFHI) equity shares to State Bank of India (SBI)

-Seizes salt refinery of Ganesh Benzoplast under Securitisation Act

-Centre permits IDBI to reissue Statutory Liquidity Ratio (SLR) bonds

-Divests its 50% stake in AMC & trustee company in favour of Principal Financial Group of the USA for Rs 94 crore

-Takes possession on the second resort of Suman Motels Ltd. under the Securitisation Act

-Modifies its financing pattern for films by doing away with profit-sharing or overflow, and the completion bond guarantee

-Acquires entire stake of Tata Finance Ltd. in Tata Homefinance Ltd. for Rs 49.98 crore, enters housing finance sector

-Offloads its stake in Gujarat Borosil Ltd. to Vulcan Exports Ltd.

-Sells 7.56 crore shares in Mangalore Refinery & Petrochemicals Ltd. (MRPL) to Oil & Natural Gas Corporation Ltd. (ONGC)

-Signs a formal subscription Agreement on July 7, 2003 with Nepal Development Bank Ltd. (NDBL), a private sector development bank in Nepal. Buys 10% stake in NDBL

-Acquires the knit processing unit of Suditi Industries Ltd on July 4 which is situated close to Navi Mumbai under the Securitisation Act

-Sues Spectrum Power Generation Limited (SPGL) for allotment of shares worth Rs 23.25 crore in SPGL

-J K Corp allots 26,53,500 shares to IDBI by way of conversion of part of rupee term loans into equity shares of the company under restructuring scheme

-IDBI, IFCI ink deal to launch SLR bonds

-Lok Sabha introduces IDBI (Transfer of Undertaking and Repeal) Bill, 2002 on August 14 which will pave the way for the transformation of the institution into a bank

-Acquires CMM Studios under Securitisation Act

-Appointed P P Vora, chairman and managing director, IDBI, as the chairman of it's new housing finance arm

-IDBI Homefinance mops up $20 million through external commercial borrowings

-Clears restructuring package for Stone India Ltd.

-IDBI Homefinance reduces home loan rates up to 150 basis points

-Ties up with Andhra Bank to sell Governtment of India (GOI) saving bonds

-Acquires 1,62,87,668 shares amounting to 5.51% of the total paid up capital of Recron Synethetics Ltd.

-UTI Chairman & Managing Director (CMD) Mr. M Damodaran takes charge as CMD of IDBI and holds concurrent charge from October 1 as part of an interim arrangement

-Mr P P Vora has withdrawn from the board of IDBI Bank wef November 4, 2003.

Further, Industrial Development Bank of India (IDBI) has notified nomination of Mr M Damodaran, CMD, IDBI as its nominee director on the Board of the bank wef November 4, 2003 in place of Mr P P Vora.

-Lok Sabha clears Industrial Development Bank (transfer of undertaking & repeal) Bill of 2002

2004

-IDBI rejigs debt borrowing program

-IDBI gets a bonanza out of IFCI-PNB amalgamation

-Industrial Development Bank of India (IDBI) has informed that the Government of India, Ministry of Finance vide notification dated February 4, 2004 states that in supersession to the notification dated September 29, 2003 and consequent upon the approval of the Appointment Committee of the Cabinet, it has decided to entrust the additional charge of the post of Chairman and Managing Director (CMD), IDBI to Shri M. Damodaran, Chairman, Unit Trust of India w.e.f. October 1, 2003 to May 31, 2004.

-Standard & Poor's (S&P) Ratings Services on February 19 assigned Industrial Development Bank of India's (IDBI) proposed $300 million senior unsecured notes a 'BB' rating. An obligation rated 'BB' is less vulnerable to non-payments and other speculative issues. However, it faces major ongoing uncertainties or exposures to adverse business, financial or economic conditions, which could lead to obligour's inadequate capacity to meet its financial commitments on the obligation.

--Industrial Development Bank of India [IDBI] has acquired 17,60,000 shares amounting to 12.11% of the total paid up capital of Soma Textiles Limited.




2004

-The promoters of Eastern Threads Ltd (ETL) have purchased 4 lakh equity shares of face value of Rs 10 each of ETL, from Industrial Development Bank of India, at a price of Re 1 per share. The transaction constituted over one per cent of the paid up capital of the ETL.

-IDBI acquires 46 lakh shares of Mysore Cements

-Mr Damodaran has been appointed CMD at IDBI with effect from June 1, 2004 till May 31, 2007

-IDBI - Launch of sixth tranche of IDBI Omni bonds (2004-2005)

2005

-Industrial Development Bank of India Ltd (IDBI) has informed that the Public Issue of IDBI Flexibonds - 23, which was opened for subscription on March 21, 2005 has been closed on March 29, 2005.

-IDBI enters into CO-Financing tie-up with SIDBI.

2006

-IDBI signs MoU with Fortis

-IDBI bags 'IT Team of the Year Award 2005'.

-IDBI sets up new branch in Andheri

-IDBI - Tripartite MOU with Federal Bank & Forties Insurance International

-IDBI bags Asiamoney's 'Best India Deal of the Year Award 2005.

-IDBI Launches No Frills 'Sabka' Savings Bank Account.

2007

- Industrial Development Bank Of India Limited has informed that as per provisions of Article 134 to 138 of the Articles of Association of IDBI Ltd., read with Sections 255 and 256 of the Companies Act, 1956, the shareholders have re-appointed the following two directors after retirement by rotation on the Board of Directors of IDBI Ltd. in the 3rd Annual General Meeting of IDBI Ltd. held on June 22, 2007.

(1) Shri Hira Lal Zutshi and

(2) Shri A. Sakthivel

-IDBI Wins Three Awards at the ABCI

-IDBI signs MOU with IFC for co-operation in Clean Development Mechanism (CDM) Projects

-IDBI, Federal Bank and Fortis Sign Joint Venture Agreement To Establish A New Life Insurance Company In India

-IDBI Launches new 600 days Suvidha Plus FD Scheme

2008

-Industrial Development Bank Of India Limited has submitted to a copy of the Resolution passed by the Board by circulation on March 12, 2008 in respect of change of name of the Bank to 'IDBI Bank Limited' by passing a Special Resolution through Postal Ballot in terms of Section 192A of the Companies Act, 1956.

-Company name has been changed from Industrial Development Bank of India Ltd to IDBI Bank Ltd.

-IDBI bags two Special IT Awards from IBA

-IDBI ties up with Motilal Oswal Securities for online trading

2009

- IDBI Bank has slashed its benchmark prime-lending rate (BPLR) by 25 basis points to 12.75 per cent. The reduction will come into effect from July 1 and will apply to all loans linked to the BPLR, including home loans, according to a press release from the bank. The bank cut deposit rates by 25-50 basis points earlier this week.

-IDBI Bank bags IBA's prestigious Banking Technology award

-IDBI Bank Ltd and Tata Motors Limited (TML) sign MoU for Vehicle Loan Financing

2010

- IDBI Bank has opened its first overseas branch at the Dubai International Financial Centre.
 
Subscribe now to get personal finance updates in your inbox!