Description

IDBI Bank Limited, an Indian financial institution, delivers a comprehensive suite of banking and financial services to both individual and corporate clients across the nation. Its operations are categorized into key divisions: Corporate/Wholesale Banking, Retail Banking, Treasury, and Other Banking Activities. For retail customers, the bank offers various account types including savings, current, and salary accounts, alongside fixed deposit options. Loan products span home, auto, education, and personal financing, as well as credit secured by property or other assets. It also issues debit, credit, and prepaid cards and supports modern banking channels through phone, mobile, and internet platforms. Investment guidance and capital market services further complement its retail portfolio. In the corporate and wholesale banking sphere, IDBI Bank extends both fund-based and non-fund-based credit facilities. This includes export packing credit, receivable purchasing with recourse, channel financing for corporate dealers, and specific schemes like funding for ATM/cash dispenser vendors and technology upgrades for the textile and jute sectors. Furthermore, it provides financing to non-banking financial companies (NBFCs), housing finance companies (HFCs), and the commercial real estate industry. The bank's services also encompass trade finance instruments such as bank guarantees, letters of credit, documentary collections, bill discounting, and foreign currency transactions. It manages cash, treasury operations, and remittances, while also offering debt syndication and advisory expertise. Specialized financial solutions include financing for micro, small, and medium enterprises (MSMEs), agricultural lending, and dedicated products for non-resident Indians (NRIs). Beyond core banking, IDBI Bank offers IT and security solutions, contact center services, merchant banking, stock broking, and portfolio management for pension and provident funds. A wide array of trusteeship services is also provided, covering mutual funds, security pledges, venture capital funds, safekeeping, escrow agency functions, and acting as a trustee for securitization transactions and bonds/debentures. As of March 31, 2022, IDBI Bank maintained an extensive network comprising 1,886 branches, 3,403 ATMs, and 58 e-lounges. Established in 1964 and headquartered in Mumbai, India, the institution adopted its current name, IDBI Bank Limited, in May 2008, having previously been known as IDBI Ltd.