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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.
Rakesh Sharma (born 2 July 1958) is an Indian banker who is the Managing Director & Chief Executive Officer of IDBI Bank. [1] Sharma was the MD and CEO of Lakshmi Vilas Bank and Canara Bank. He has also held positions at State Bank of India during his 33-year tenure with the lender. [2]
Small Industries Development Bank of India (SIDBI) is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India. It is under the jurisdiction of Ministry of Finance , Government of India headquartered at Lucknow and having its offices all over the country.
The Reserve Bank of India approved his appointment for a period of three years, effective from 19 December 2018. [22] The bank transitioned from infrastructure financing to retail banking in four years since the merger. Its CASA ratio increased from 8.6% to 49.77% and retail deposits went up from 27% to 76% of total deposits, as of March 2023.
The problem of undercounting resonates in the Indian state of Gujarat, the site of a mammoth debacle that was supposed to transform the World Bank’s approach to development and displacement. In 1985, the bank pledged $450 million to finance the Sardar Sarovar dam and canal, the keystone of an effort to turn the Narmada River into a series of ...
The FDA recalled 60 doughnut products, totaling more than 2 million cases, for potential listeria contamination. The doughnuts were sold throughout the U.S. and Canada.
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