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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.
The Central Board of Indirect Taxes and Customs (CBIC), formerly the Central Board of Excise and Customs, is a statutory body under the Department of Revenue, Government of India. It oversees the administration of indirect taxes , including customs duties, excise duties, and the Goods and Services Tax (GST).
IDBI Bank was categorised as a private bank with effect from January 2019 on account of LIC acquiring the shares from GoI. [7] On 30 August 2019, Minister of Finance Nirmala Sitharaman announced the government's plan for further consolidation of public sector banks. The mergers took effect from 1 April 2020.
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.
As at 31 January 2011, 74,680 branches or offices of 101 banks in the country (out of around 82,400 bank branches) were NEFT-enabled. Steps are being taken to further widen the coverage both in terms of banks and branches offices. As on 30 December 2017 total number of NEFT enabled branches was increased to 139682 of 188 banks. [14]
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.
A District Co-operative Central Bank (DCCB) is a rural cooperative bank operating at the district level in various parts of India. [1] [2] It was established to provide banking to the rural hinterland for the agricultural sector with the branches primarily established in rural and semi-urban areas.
The International Financial Services Centres Authority (IFSCA) is the regulatory body for the Indian special economic zones such as the GIFT International Financial Services Centre for International Financial Services and commodity markets under the ownership of the Government of India. [3]