IDBI BANK LIMITED
IDBI BANK LIMITED IDBI Bank Limited “was established in 1964 as Industrial Development Bank of India, a development finance institution, which provided financial services to the industrial sector. In 2005, the institution was merged with its commercial division, IDBI Bank, forming the present-day banking entity and was categorised as ‘other development finance institution’ category. Later in March 2019, Government of India asked to infuse capital in the bank due to high NPA and capital adequacy issues and also asked LIC to manage the bank to meet the regulatory norms. IDBI was put under Prompt corrective action of the RBI and on 10th March 2021 IDBI came out of the PCA. At present direct and indirect shareholding of Government of India in IDBI Bank is approximately 95%, which Government of India vide its communication F.No. 8/2/2019-BO-II dated December 17, 2019, has clarified and directed all Central/State Government departments to consider IDBI Bank for allocat