IDBI Bank Logo

Indian Banks: The Story of IDBI Bank

IDBI Bank History

Other than the nationalized banks, there are two more banks which are Govt. owned — IDBI Bank and Bhartiya Mahila Bank.

Industrial Development bank of India (IDBI) was constituted under Industrial Development bank of India Act, 1964 as a Development Financial Institution and came into being as on July 01, 1964. A new company under the name of Industrial Development Bank of India Limited (IDBI Ltd.) was incorporated as a Govt. Company on September 27, 2004. Towards achieving the faster inorganic growth of the Bank, IDBI Bank Ltd., a wholly owned subsidiary of IDBI Ltd. was amalgamated with IDBI Ltd. in 2005. In 2008, the name of the merged entity was changed from IDBI to IDBI Bank.