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The IDBI Bank Limited (IDBI Bank or IDBI) is a Scheduled Commercial Bank under the ownership of Life Insurance Corporation of India (LIC) and Government of India.It was established by Government of India as a wholly owned subsidiary of Reserve Bank of India in 1964 as Industrial Development Bank of India, a Development Finance Institution, which provided financial services to industrial sector.
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, 6 PBs, 43 RRBs, and 2 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.
Full name Call name SWIFT code Majority owner Capital Location Arab Jordan Investment Bank (CY) AJIB-CY AJIBCY2IXXX Arab Jordan Investment Bank: Limassol: Nicosia: Banque SBA Cyprus SBA SBAACY2IXXX Banque Libano-Française SAL: Limassol: Central Cooperative Bank Branch Cyprus CCB BLOMCY2IXXX Central Cooperative Bank PLC: Nicosia: Cyprus Branch ...
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]
IDB Bank (IDB) is an American multinational private bank, commercial bank and financial services company headquartered in New York City with locations in the United States, Latin America and Israel. It is chartered by the State of New York and a member of the Federal Deposit Insurance Corporation.
The National Financial Switch was launched by the IDRBT on 27 August 2004, connecting the ATMs of three banks, Corporation Bank, Bank of Baroda and ICICI Bank. [3] [4] [5] The IDRBT then worked towards bringing all major banks in India on board and by December 2009, the network had grown to connect 49,880 ATMs of 37 banks, thereby emerging as the largest network of shared ATMs in the country.
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.