IDBI Bank was set up under an Act of Parliament as a wholly-owned subsidiary of Reserve Bank of India in July 1964. In February 1976, the ownership of IDBI was transferred to Government of India.
In January 1992, IDBI accessed domestic retail debt market for the first time with innovative Deep Discount Bonds and registered path-breaking success. In December 1993, IDBI set up IDBI Capital Market Services Ltd. as a wholly-owned subsidiary to offer a broad range of financial services, including Bond Trading, Equity Broking, Client Asset Management and Depository Services.
In September 1994, in response to RBI's policy of opening up domestic banking sector to private participation, IDBI in association with SIDBI set up IDBI Bank Ltd. Today, IDBI Bank has a network of 161 branches, 369 ATMs, and 8 Extension Counters spread over 95 cities.
In January 1992, IDBI accessed domestic retail debt market for the first time with innovative Deep Discount Bonds and registered path-breaking success. In December 1993, IDBI set up IDBI Capital Market Services Ltd. as a wholly-owned subsidiary to offer a broad range of financial services, including Bond Trading, Equity Broking, Client Asset Management and Depository Services.
In September 1994, in response to RBI's policy of opening up domestic banking sector to private participation, IDBI in association with SIDBI set up IDBI Bank Ltd. Today, IDBI Bank has a network of 161 branches, 369 ATMs, and 8 Extension Counters spread over 95 cities.
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