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Industrial Development Bank Of India (IDBI)

INDUSTRIAL DEVELOPMENT BANK OF INDIA (IDBI)

Origin Of Industrial Development Bank of India

The Industrial Development Bank of India was set up as a wholly owned subsidiary of the RBI on July 1st 1964 under an act of parliament. In February 1976, it became an independent and autonomous bank.

Capital Of Industrial Development Bank of India

Industrial Development Bank of India was started with initial paid up capital of Rs. 100 crores and now it can raise further capital with the help of issue of shares, debentures and accept deposits from public.

finance
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Objectives Of Industrial Development Bank of India

The main objectives of the Industrial Development Bank of India are as follows:

• To provide credit, team finance, and financial services for the establishment of new projects.

• To expansion, diversification modernization and technology upgradation of existing Industrial concern.

• To provide several diversified financial products.

• To undertake merchant banking activities.

Functions Of Industrial Development Bank of India

The functions of Industrial Development Bank of India are as follows:

1. Direct finance—Project loan, soft loan, technical development loan, equipment finance etc.

2. Indirect finance—Refinancing, rediscounting of bills, seed capital to new entrepreneurs.

3. Special assistance—Promotion of development assistance funds.

4. General assistance—Non-financial promotional activities like marketing, research, consultancy etc.

Management Of Industrial Development Bank of India

Industrial Development Bank of India managed by board of directors which consist of 14 directors and one full time chairman. The directors are nominated by the government, Reserve Bank of India, company law board, insurance companies and various industries.

Subsidiaries of Industrial Development Bank of India are as follows:

• IDBI Bank Ltd.

• IDBI Capital Market Service Ltd.

• IDBI Mutual Funds.

• SIDBI

• IDBI Intech Ltd.

Industrial Development Bank of India has helped to set up the following institutions:

• Technical Consultancy Organization.

• EXIM Bank.

• Entrepreneurship Development Institute.

• Credit Rating and information service India Ltd.

Working Result Of Industrial Development Bank of India

Total assistance sanctioned by Industrial Development Bank of India in 1998–99 was Rs. 25,555 crores, of this 96.7% goes to direct assistance, 0.4% belongs to refinance. The total amount of assistance sanctioned by the Industrial Development Bank of India till the end of March 1999 from the date of its incorporation has been Rs. 1,07,264 crores.

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