Saturday , September 18 2021

RBI categorizes IDBI Bank as private sector bank

Reserve Bank of India (RBI) has categorized IDBI Bank as a Private Sector Bank for regulatory purposes with effect from January 21, 2019 consequent upon Life Insurance Corporation of India acquiring 51% of the total paid up equity share capital of the Bank.

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.

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