Industrial Development Bank of India Limited
A Govt Of India Owned Bank
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| Government-owned bank | |
| Traded as | : : IDBI |
| Industry | Banking, Financial services |
| Predecessor | IDBI |
| Founded | 1 July 1964, 52 years ago |
| Headquarters | Mumbai, India |
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Key people
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Mahesh Kumar Jain (Managing Director & CEO) |
| Products | consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management, Agriculture Loan |
| Revenue |
 ₹28,043.10 crore (US$4.3 billion) (2016) |
 ₹5,370 crore (US$820 million) (2016) |
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₹-3,664.80 crore (US$−560 million) (2016) |
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| Total assets |
₹374,372.12 crore (US$57 billion) (2016) |
| Owner | Government of India |
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Number of employees
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17,570 (March 2016) |
| Capital ratio | 11.76% (2016) |
| Website | www |
IDBI Bank (Industrial Development Bank of India) was established in 1964 by an Act of Parliament to provide credit and other financial facilities for the development of the fledgling Indian industry. The central government is the owner of this bank and employees will be called as Central Government staffs. It is one among the public sector banks in India and is a nationalized bank to be treated on par with SBI and other nationalized banks in accordance with the notification dated 26th February 2013 by the finance ministry. At present the government holds 77% stake in IDBI Bank. For the first quarter of the current financial year 2017-18, the bank reported a net loss of Rs.853 crore compared to a profit of Rs.241 crore during the corresponding period last financial year. In the fourth quarter of financial year 2016-17, the bank had reported a loss of Rs.3,200 crore. While the reported loss was lower than the preceding quarter, bad loans continued to surge. In the quarter ending September 2017 the bank bounced back with a loss of Rs.198 crore compared to a loss of over Rs.2,000 crore in the previous quarter. The bank is expected to return to profit in the near future.
It currently has 3,817 ATMs, 1,995 branches, including one overseas branch in Dubai, and 1,382 centers.
The bank has an aggregate balance sheet size of INR 3.74 trillion as on 31 March 2016.
Development Banking emerged after the Second World War and the Great Depression in 1930s. The demand for reconstruction funds for the affected nations compelled in setting up of national institutions for reconstruction. At the time of Independence in 1947, India had a fairly developed banking system. The adoption of bank dominated financial development strategy was aimed at meeting the sectoral credit needs, particularly of agriculture and industry. Towards this end, the Reserve Bank concentrated on regulating and developing mechanisms for institution building. The commercial banking network was expanded to cater to the requirements of general banking and for meeting the short-term working capital requirements of industry and agriculture. Specialised development financial institutions (DFIs) such as the IDBI, NABARD, NHB and SIDBI were set up to meet the long-term financing requirements of industry and agriculture.
The Industrial Development Bank of India (IDBI) was established in 1964 under an Act of Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 1976, the ownership of IDBI was transferred to the Government of India and it was made the principal financial institution for coordinating the activities of institutions engaged in financing, promoting and developing industry in India. IDBI provided financial assistance, both in rupee and foreign currencies, for green-field projects as also for expansion, modernisation and diversification purposes. In the wake of financial sector reforms unveiled by the government since 1992, IDBI also provided indirect financial assistance by way of refinancing of loans extended by State-level financial institutions and banks and by way of rediscounting of bills of exchange arising out of sale of indigenous machinery on deferred payment terms.
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