Industrial Development Bank of India

The Industrial Development Bank of India (IDBI Bank Limited; formerly Industrial Development Bank of India) is an Indian banking and financial services company that originated as the country's principal development financial institution for promoting industrial and economic development. Established on 1 July 1964 under the Industrial Development Bank of India Act, 1964, the institution was created as a wholly owned subsidiary of the Reserve Bank of India (RBI) to provide long-term finance for industrial projects and to coordinate the activities of other development finance institutions. In 1976, ownership of the institution was transferred to the Government of India. Following financial sector reforms, IDBI was transformed into a commercial bank in 2004 and subsequently incorporated as IDBI Bank Limited. Headquartered in Mumbai, Maharashtra, the bank provides a comprehensive range of retail, corporate, treasury, and digital banking services.

During its tenure as a development financial institution, IDBI played a central role in financing industrialization and infrastructure development in India. It provided long-term project finance, refinancing facilities, export finance, industrial modernization assistance, venture capital support, and technical advisory services to public and private sector enterprises. The institution also promoted the establishment of several financial and capital market institutions and collaborated closely with state financial corporations, commercial banks, and industrial development agencies. Prior to the enactment of the Insolvency and Bankruptcy Code, 2016, IDBI frequently served as the operating agency for the Board for Industrial and Financial Reconstruction (BIFR), preparing rehabilitation packages for financially distressed industrial companies.

Following its conversion into a universal commercial bank, IDBI Bank expanded its operations to include retail banking, corporate lending, small and medium enterprise (SME) financing, agricultural banking, treasury operations, wealth management, and digital financial services. The bank offers savings and current accounts, deposits, loans, credit cards, investment products, payment services, and internet and mobile banking to individual and institutional customers. It also participates in infrastructure financing, trade finance, foreign exchange services, and capital market activities while continuing to support economic development through commercial banking operations.

IDBI Bank is regulated by the Reserve Bank of India (RBI) and works closely with institutions including the Securities and Exchange Board of India (SEBI), the National Company Law Tribunal (NCLT), the Insolvency and Bankruptcy Board of India (IBBI), the Competition Commission of India (CCI), and the Ministry of Finance. Through its evolution from a development finance institution to a universal commercial bank, IDBI has played a significant role in India's industrial financing, banking sector development, corporate restructuring, and financial system modernization.