Industrial Development Bank of India (IDBI) | Indian Banking System | BBA/B.Com

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IDBI Bank (Industrial Development Bank of India) was established in 1964 by an Act of Parliament to provide credit and other financial facilities for the development of the fledgling Indian industry. It is owned by the Government of India. It is one among the public sector banks in India and is a nationalized bank to be treated on par with State Bank of India (SBI) and other nationalized banks in accordance with the notification dated 26 February 2013 by the finance ministry. At present the government holds 77% stake in IDBI Bank. For the first quarter of the current financial year 2017-18, the bank reported a net loss of Rs.853 crore compared to a profit of Rs.241 crore during the corresponding period last financial year. In the fourth quarter of financial year 2016-17, the bank had reported a loss of Rs.3,200 crore. While the reported loss was lower than the preceding quarter, bad loans continued to surge. In the quarter ending September 2017 the bank bounced back with a loss of Rs.198 crore compared to a loss of over Rs.2,000 crore in the previous quarter. The bank is expected to return to profit in the near future

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