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The Industrial Development Bank of India (IDBI) was established in 1964 under an Act of Parliament as a wholly owned subsidiary of the Reserve Bank of India.In 1976, the ownership of IDBI was transferred to the Union government and it was made the principal financial institution for coordinating the activities of institutions engaged in financing, promoting and developing industry in India.
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India's commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
Public Sector Undertakings (Banks) are a major type of government-owned banks in India, where a majority stake (i.e., more than 50%) is held by the Ministry of Finance (India) of the Government of India or State Ministry of Finance of various State Governments of India. The shares of these government-owned-banks are listed on stock exchanges.
It is under the jurisdiction of Ministry of Finance, Government of India headquartered at Lucknow and having its offices all over the country. SIDBI was established on April 2, 1990, by Government of India, as a wholly owned subsidiary of IDBI Bank. It was delinked from IDBI w.e.f. March 27, 2000.
In 2005, The Government of India and IDBI Bank, a public sector bank were the sponsor shareholders of IDFC. The government brought down its stake to 34.91% through IDFC’s initial public offering in 2005. [7] In 2014, the Reserve Bank of India granted in-principle approval to IDFC Limited to set up a new bank in the private sector. [8]
The IDBI was established to provide credit for major financial facilities to assist with the industrial development of India. It was established in 1964 by RBI, and was transferred to the government of India in 1976. The government holdings in IDBI, after the IPO, is 51.4%. [3] By the end of September 2004, the IDBI asset base was Rs. 36850 ...
It is the first world trade center in India. It consists of two towers, the M. Visvesaraya Industrial Research and Development Centre (MVIRDC) [5] and the IDBI. [6] MVIRDC is also known as Centre 1. At 155.9 m, the MVIRDC tower was the tallest building in South Asia for nearly four decades, until the completion of Planet Godrej (181 m) in 2009. [7]
UCO Bank, formerly United Commercial Bank, is an Indian public sector bank, and financial services government owned body headquartered in Kolkata. [3] It is a medium sized public sector bank in India and ranked 1948 in Forbes Global 2000 list of year 2018 & ranked 80 on the Fortune India 500 list in 2020. [4]