Idbi Bank Ltd

IDBI Bank Limited provides banking and financial solutions to retail and corporate clients in India. The company offers savings and current accounts corporate payroll accounts and fixed deposits; home auto education and personal loans as well as loans against properties and securities; debit credit and prepaid cards; phone mobile and Internet banking services; and investment advisory and capital market services as well as lockers. The company also provides fund based assistance including term loans; working capital; packing credit to exporters; receivable buyout with recourse; channel financing for dealers of corporates; scheme for financing automated teller machines (ATM)/cash dispense vendors; bill discounting; technology upgrading fund scheme for textile and jute industries; and lending to non-banking finance companies/housing finance companies and commercial real estate sector. In addition it offers bank and performance guarantees letters of credit and buyers credit; cash management treasury trade finance and foreign currency services; and debt syndication and advisory services. Further the company provides finance to micro small and medium enterprises; agriculture finance; and products and services for non-resident Indians as well as equity debt and gold products. Additionally it offers information technology and security and contact center services; and mutual fund security trusteeship assignments share pledge trustee venture capital fund safe keeping escrow agency and other trusteeship services as well as acts as a trustee to securitization transactions and bond/debentures. As of March 31 2020 the company operated 1892 branches 3683 ATMs and 58 e-lounges. The company was formerly known as IDBI Ltd. and changed its name to IDBI Bank Limited in May 2008. The company was founded in 1964 and is headquartered in Mumbai India. IDBI Bank Limited is a subsidiary of Life Insurance Corporation of India.