IDBI Full Form - Industrial Development Bank of India

by Devender

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What is the full form of IDBI?

The full form of IDBI is Industrial Development Bank of India.

IDBI Full Form

It is a government-owned financial service company that was established in 1964 to provide financial and credit facilities for growth in the Indian industry. It is one of the most prominent commercial banks in India and has played a major role in the development of the nation over the years.

Its headquarter is located in Mumbai, Maharashtra, India and it also has 5 regional offices in Delhi, Bangalore, Mumbai, Kolkata and Chennai.

As of January 2022, Rakesh Sharma is the CEO and M.D. of the IDBI bank and currently, IDBI has more than 1000 branches all over India focusing on investigating issues in small-scale industries and research about the latest technology and survey for developing industries.

IDBI History

Here is a brief history of the IDBI Bank:

IDBI was founded in 1964 as a wholly-owned subsidiary of RBI.
It was founded under the parliament act.
Since then, it has worked to enhance the financial sector of the country.
It was given the DFI status for over 40 years until 2004 when it was converted into a bank.
Since then, it has performed a dual role as both a financial institute and a bank.

IDBI Objectives

The main objectives of the IDBI can be understood from these points:

Achieve dynamic industrial growth by planning and promotion
Conduct research and development for the benefit of the Industrial segment of the country
Supervising the work of other financial institutions like ICICI, LIC, etc.

Roles of IDBI

The roles of IDBI are as follow:

Grant loans and advances
Direct and underwriting subscriptions
Developing Industrial sector
Co-ordinating with other banks
Development of effective policies for boosting the growth of the country
Offer finance by providing direct funds

Source of IDBI Funds

There are mainly 4 places where IDBI get its funds which are:

1 RBI

2 Bonds

3 Shares

4 Interest

Products and services of IDBI

Here is a list of products and services offered by IDBI:

Provides loans including personal loans, securities, reserve mortgages, property, auto loans, etc.
Permits card to card payment, online payment, tax, and duty payment
NRI services, DEMAT, Capital marketing etc.
It also provides finance for corporates for the project, infrastructure, advisory, and syndication services