IDBI full form stands for Industrial Development Bank of India. The bank provides banking services and financial solutions in India. It was founded in 1964, initially as the Industrial Development Bank of India. The main purpose of the bank was to provide financial services to the industrial sector in India. Today, IDBI is a subsidiary of Life Insurance Corporation. Here are some of the facts about IDBI. To find out its full form, please read the information below.
The Industrial Development Bank of India is a government-owned financial services corporation in India. The Bank was established on July 1, 1964. The bank operated as an affiliate of the Reserve Bank of India until February 16, 1976, when the government decided to grant it autonomy. IDBI is a key player in India’s industrial and manufacturing sectors. The bank has a long list of clients, which includes large multinational corporations and SMEs.
IDBI has been in existence for over 50 years. The bank provides a variety of financial services to millions of people in the country. Its main purpose is to foster economic growth. In fact, it is responsible for a quarter of the country’s GDP. To keep up with this growing economy, IDBI has a strong presence in the industrial sector. A full listing of companies with a large presence in the Industrial Development Bank of India can be found on the IDBI website.
The bank’s role as an intermediary between the government and the private sector is primarily in the development finance market. It is responsible for refinancing loans extended by banks and State-level financial institutions. Additionally, IDBI rediscounts bills of exchange that arise from the sale of indigenous machinery on deferred payment terms. With its wide range of services, IDBI aims to provide financial assistance to the country’s industries.
The Industrial Development Bank of India (IDBI) is a government-owned financial services company. Established in 1964, it provides financing and financial resources to the Indian industry. It is one of India’s most prominent commercial banks. IDBI offers banking solutions and personal services to individuals and companies in the industrial sector. Its name is indicative of its role as a lender to the Indian economy. Its mission is to help Indian businesses prosper.
Despite its international recognition, IDBI has a long and short version in Hindi. For this reason, IDBI full form is not widely used outside India. IDBI full form may be confusing if you do not know how to pronounce it. But don’t worry, it’s easy to learn and understand. Just make sure to know the full name of IDBI so you can find it easily. If you don’t know it, we will provide the translation in Hindi.
IDBI is the largest commercial bank in India, providing customized banking solutions to its customers. The bank has over 1602 branches, 2912 ATMs, and 1013 centers in India and has a branch in Dubai. It also has over 50 e-lounges and 1407 centers. Its MD and CEO, Rakesh Sharma, is a former CEO of Lakshmi Vilas Bank. The bank was taken over by the Indian government in 1976.
