IDBI BANK IFSC Code

IDBI Bank is one of India's leading commercial banks with a unique heritage as a development financial institution. Originally established in 1964 as the Industrial Development Bank of India, it was converted into a commercial bank in 2004. Today, IDBI Bank operates through over 1,800 branches across India, offering comprehensive banking services to individuals and businesses.

Evolution from DFI to Commercial Bank

IDBI was established on July 1, 1964, by an Act of Parliament as the apex institution for industrial finance in India. For four decades, IDBI played a pivotal role in India's industrial development by providing long-term finance to industries. In 2004, IDBI was converted into a commercial bank, enabling it to offer a full range of banking services.

In 2019, Life Insurance Corporation of India (LIC) acquired a majority stake in IDBI Bank, bringing significant changes to the bank's ownership and strategic direction. This partnership with LIC has strengthened IDBI Bank's position in the Indian banking sector.

Banking Products and Services

IDBI Bank offers a comprehensive range of banking products for individuals and businesses. Personal banking services include various savings accounts like IDBI Comfort Savings Account, Super Savings Account, and specialized accounts for different customer segments. The bank offers attractive interest rates on fixed deposits and recurring deposits.

Loan products include home loans, car loans, personal loans, education loans, and gold loans. IDBI Bank is known for its competitive interest rates and efficient loan processing. The bank also provides agricultural loans and supports farmers through various credit facilities.

IDBI Bank GO Mobile and Digital Banking

IDBI Bank's digital banking is powered by the 'IDBI Bank GO Mobile+' app, which offers comprehensive banking services including account management, fund transfers, bill payments, and UPI transactions. The app provides a seamless digital banking experience with features like instant account opening and quick loan approvals.

The bank's internet banking platform provides secure access to banking services for retail and corporate customers. IDBI Bank has invested significantly in digital infrastructure to meet the evolving needs of customers.

Corporate and Institutional Banking

Leveraging its heritage as a development financial institution, IDBI Bank has strong capabilities in corporate and institutional banking. The bank provides project finance, working capital finance, trade finance, and treasury services to large corporations. IDBI Bank's expertise in project appraisal and industrial finance distinguishes it from other banks.

MSME Banking

IDBI Bank supports the MSME sector with various loan products including working capital loans, term loans, and credit under government schemes. The bank leverages its industrial finance expertise to support small and medium enterprises.

LIC Integration

The partnership with LIC has enabled IDBI Bank to offer integrated insurance and banking solutions. Customers can access LIC insurance products through IDBI Bank branches, creating a one-stop shop for financial services.

International Operations

IDBI Bank has an international presence with branches in Dubai and Singapore, and representative offices in other countries. The bank provides trade finance and treasury services to support international business.

Financial Inclusion

IDBI Bank participates in financial inclusion initiatives and implements government welfare schemes. The bank provides banking services in rural and underserved areas through its branch network and Business Correspondents.

Awards and Recognition

IDBI Bank has received numerous awards for its banking services, digital innovation, and customer service. The bank continues to leverage its unique heritage while adapting to the changing banking landscape.