IDBI Bank

IDBI Bank is a government-owned service company, formally incorporated in the name of Industrial Development Bank of India. IDBI Bank was established in 1964 to cater to the financial needs of Indian industrial needs. After the Indian independence in 1947, there was an urge to develop a banking system that meets the financial requirements of the developing and growing India. There was a need to build a separate bank for financial management as RBI was busy working towards monetary and regulatory policies.
The Industrial Development Bank of India, also commonly known as IDBI, is currently one of the most prominent Indian commercial banks, having a strong presence in asset & liability products and leading solutions. The bank is present in all states of India with a vast network of almost 1400 branches & 2000 ATMs across 28 states. IDBI has incarcerated the Indian banking industry with its various pioneering products and remarkable personnel & advanced technological solutions to become a strong market leader, in order to diversify its activity and harmonize the financial development in a phased manner for the commercial banking. To carry out all these activities, IDBI was incorporated as a scheduled bank under the RBI Act in 1934 in 2004 with the moderate development of banking functions. Once it acquired United Western Bank, there was an increase in the number of branches and ATMs.IDBI Bank IFSC Code and Swift Code vary according to branches in Bangalore.

Key Features

• Quicker fund transactions with online facilities to pay your bills and tax.
• It is a great means to accrue money as you can earn more interest by opting for a suitable IDBI Saving Account when compared to other instant banking options.
• You get a global debit card and passbook as you open an account.
• You can easily deposit DDs, cheque or cash.
• Along with saving a great deal, you also get rebates and gifts on travel.
• Minimum balance is required