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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.
Indian. Occupation. MD & CEO of IDBI Bank. Children. 2. Rakesh Sharma (born 2 July 1958) is the Managing Director & Chief Executive Officer of IDBI Bank. [1] He is one of the first two private bankers to lead a state-run bank. Previously, Sharma was the MD and CEO of Lakshmi Vilas Bank and Canara Bank. He has also held several key positions at ...
2020: - April 1, 2022, Indian Bank and Allahabad Bank merged. The oldest Joints Stock Bank in the country, Allahabad Bank, was founded on April 24 18,5 by a group of Europeans at Allahabad, at a juncture when organized industries, trade and banking were taking shape in India. Thus, the history of the bank now spreads over three centuries.
The bank achieved a profit after tax (PAT) of ₹2,437 crore in the financial year 2023, maintaining a capital adequacy ratio of 16.82%. The bank's retail loans showing a gross non-performing asset (NPA) ratio of 1.65% and a net NPA ratio of 0.55% as of March 31, 2023. The overall gross NPA ratio is 2.51%, while the net NPA ratio is 0.86%.
All India Financial Institutions ( AIFI) is a group composed of financial regulatory bodies that play a pivotal role in the financial markets. Also known as "financial instruments", the financial institutions assist in the proper allocation of resources, sourcing from businesses that have a surplus and distributing to others who have deficits ...
The Industrial Investment Bank of India ( IIBI) was a development finance institution under the ownership of Ministry of Finance, Government of India. It operated from its inception in 1971 until it was closed down by the Indian government in 2012. It was a development finance institution with the aim of rehabilitating sick industrial companies ...
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