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INDUSTRIAL DEVELOPMENT BANK OF INDIA
The Industrial Development Bank of India (IDBI) is a central
co-coordinating agency, which directly and indirectly, is concerned
with the problems and questions related to long and medium term
financing of industry. An apex financial institution at the national
and the state level, it finances and nurtures the Indian industry
in a significant way. It primarily focuses on a balanced development
of the industrial sector. Government stake today is at 72.14% and
can be further reduced to 51%.
The core area of operation of IDBI has been project financing.
Long term project specific finance through loans, convertible and
non-convertible debentures, underwriting, direct subscriptions however,
continue to form the largest single segment.
MILESTONES
- Set up in July 1964, by an act of Parliament, as a fully owned
subsidiary of the Reserve Bank Of India (RBI).
- In 1976, ownership was transferred to the Government Of India.
(GOI)
- The Export Import Bank Of India (EXIM Bank) branched off from
IDBI's international finance division in 1982.
- SIDBI, the Small Scale Industries Development Bank Of India,
a wholly owned subsidiary, was started in 1990 to address the specific
needs of the Small Scale Industries.
- IDBI permitted public ownership in 1994.
- IDBI has significantly strenghthened the Capital Market in the
country through the setting up of the Securities and Exchange Board
of India (SEBI), the National Stock Exchange of India Limited (NSEIL),
Credit Analysis and Research Limited (CARE), the Stock Holding Corporation
Of India Limited. (SHCIL), Investor Services of India Limited (ISIL),
National Securities Depository Limited (NSDL). Apart from these
Capital Market institutions, IDBI has its own subsidiary institution
IDBI Investment Management Company Limited (IIMCO) to manage mutual
funds and other investment products for investors.
SUBSIDIARY ORGANISATIONS
The subsidiary organisations of IDBI are expected to expand the
functional reach of IDBI group in liberalised market conditions.
- Small Scale Industries Development Bank Of India (SIDBI) caters
to the needs of the Small Scale Enterprises in the country.
- IDBI Capital Market Services Limited (ICMS) is a stock broking
company which provides capital market related services.
- IDBI Bank- a commercial bank.
- IDBI Intech Limited is involved in IT related activities, identifying
areas of operations include internet products/services, network
services, web- based solutions, on-line portal and content offerings,
product customization and development and IT training.
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