- Business
- IDBI Bank Limited, a scheduled commercial bank under the majority ownership of Life Insurance Corporation of India and the Government of India, provides banking and financial solutions to retail, corporate, MSME, agriculture and wholesale customers across India. Founded in 1964 and headquartered in Mumbai, Maharashtra, the bank offers savings, current and salary accounts; fixed and term deposits; home, auto, education, personal, agricultural and MSME loans; credit cards including gold debit, platinum and international debit cards; corporate products such as project finance, infrastructure finance, working capital, cash management, trade finance, syndication, underwriting, derivatives and tax payments; capital market services including demat, IPOs, mutual funds, insurance and portfolio investment schemes for NRIs; treasury operations; and digital services encompassing internet banking, mobile banking, phone banking, SMS alerts and bill payments. IDBI Bank operates over 2,100 branches, more than 3,700 ATMs and 58 e-lounges nationwide, with one overseas branch in Dubai. In recent developments, Kotak Mahindra Bank emerges as the front-runner to acquire the government's 30.48% stake and LIC's 30.24% stake in a strategic disinvestment process advancing toward financial bids in late 2025, following RBI fit-and-proper clearances and due diligence completion; the bank reported a 16% rise in FY25 operating profit to Rs 11,079 crore with a net interest margin of 4.56%; and it exited RBI's Prompt Corrective Action framework in March 2021 after recapitalization by LIC, which assumed management control in January 2019 with a 51% stake.