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IDBI BANK

Profile of the Bank IDBI Bank Ltd. is today one of India's largest commercial Banks. For over 40 years, IDBI Bank has essayed a key nation-building role, first as the apex Development Financial Institution (DFI) (July 1, 1964 to September 30, 2004) in the realm of industry and thereafter as a full-service commercial Bank (October 1, 2004 onwards). As a DFI, the erstwhile IDBI stretched its canvas beyond mere project financing to cover an array of services that contributed towards balanced geographical spread of industries, development of identified backward areas, emergence of a new spirit of enterprise and evolution of a deep and vibrant capital market. On October 1, 2004, the erstwhile IDBI converted into a Banking company (as Industrial Development Bank of India Limited) to undertake the entire gamut of Banking activities while continuing to play its secular DFI role. Post the mergers of the erstwhile IDBI Bank with its parent company (IDBI Ltd.) on April 2, 2005 (appointed date: October 1, 2004) and the subsequent merger of the erstwhile United Western Bank Ltd. with IDBI Bank on October 3, 2006, the tech-savvy, new generation Bank with majority Government shareholding today touches the lives of millions of Indians through an array of corporate, retail, SME and Agri products and services. Headquartered in Mumbai, IDBI Bank today rides on the back of a robust business strategy, a highly competent and dedicated workforce and a state-of-the-art information technology platform, to structure and deliver personalised and innovative Banking services and customised financial solutions to its clients across various delivery channels. As on March 31, 2011, IDBI Bank has a balance sheet of Rs.2.53 lakh crore and business size (deposits plus advances) of Rs.3.38 lakh crore. As an Universal Bank, IDBI Bank, besides its core banking and project finance domain, has an established presence in associated financial sector businesses like Capital Market, Investment Banking and more recently, the Mutual Fund Business. Going forward, IDBI Bank is strongly committed to work towards emerging as the 'Bank of choice' and 'the most valued financial conglomerate', besides generating wealth and value to all its stakeholders. As on March 31, 2011, the Bank had a network of 816 Branches and 1372 ATMs

HISTORY:
Information on the Constitution of IDBI

Industrial Development Bank of India Industrial Development bank of India (IDBI) was constituted under Industrial Development bank of India Act, 1964 as a Development Financial Institution and came into being as on July 01, 1964 vide GoI notification dated June 22, 1964. It was regarded as a Public Financial Institution in terms of the provisions of

Section 4A of the Companies Act, 1956. It continued to serve as a DFI for 40 years till the year 2004 when it was transformed into a Bank. Industrial Development Bank of India Limited In response to the felt need and on commercial prudence, it was decided to transform IDBI into a Bank. For the purpose, Industrial Development bank (transfer of undertaking and Repeal) Act, 2003 [Repeal Act] was passed repealing the Industrial Development Bank of India Act, 1964. In terms of the provisions of the Repeal Act, a new company under the name of Industrial Development Bank of India Limited (IDBI Ltd.) was incorporated as a Govt. Company under the Companies Act, 1956 on September 27, 2004. Thereafter, the undertaking of IDBI was transferred to and vested in IDBI Ltd. with effect from the effective date of October 01, 2004. In terms of the provisions of the Repeal Act, IDBI Ltd. has been functioning as a Bank in addition to its earlier role of a Financial Institution. Merger of IDBI bank Ltd. with IDBI Ltd. Towards achieving the faster inorganic growth of the Bank, IDBI Bank Ltd., a wholly owned subsidiary of IDBI Ltd. was amalgamated with IDBI Ltd. in terms of the provisions of Section 44A of the Banking Regulation Act, 1949 providing for voluntary amalgamation of two banking companies. The merger became effective from April 02, 2005. Merger of United Western bank with IDBI Ltd. The United Western bank Ltd. (UWB), a Satara based private sector bank was placed under moratorium by RBI. Upon IDBI Ltd. showing interest to take over the said bank towards its further inorganic growth, RBI and Govt. of India amalgamated UWB with IDBI Ltd. in terms of the provisions of Section 45 of the Banking Regulation Act, 1949. The merger came into effect on October 03, 2006. Change of name of IDBI Ltd. to IDBI Bank Ltd. In order that the name of the Bank truly reflects the functions it is carrying on, the name of the Bank was changed to IDBI Bank Limited and the new name became effective from May 07, 2008 upon issue of the Fresh Certificate of Incorporation by Registrar of Companies, Maharashtra. The Bank has been accordingly functioning in its present name of IDBI Bank Limited. POWER PLUS ACCOUNT We bring to you a product that reflects and matches your financial needs and requirements at every step. PowerPlus account allows you to access a complete suite of product and services and enjoy world class banking experience, complimenting your professional and personal goals. This account helps you take complete

charge of your banking by providing multiple channel and products and a wide range of benefits to help your time and money. Features

25% discount on locker rates. Higher ATM Cash withdrawal and Point-ofsale limit on International debit cum ATM card. Free Demat AMC for first year. Free Personalised PAP Cheque Book. Free Demand Draft and Payorder

Preferred Banking Preferred banking program is designed to offer services to a select group of discerning and deserving individual like you. Preferred banking special features help you to save your time, and help you build wealth through efficient deployment of assets. Your Lifestyle reflects your personality. Every element of the preferred banking attempts to complement your status and style. Preferred banking investment advisory, offers you a one stop solution with all products range from fixed deposits to Govt.of India Bonds and Mutual funds to Unit Linked Insurance Plans. Royale Account The IDBI Bank Royale Account has been designed to make banking services more convenient for esteemed customers. This new service guarantees you as our privileged customer elaborate and personalized service of the highest order. For all the banking requirements a dedicated relationship manager would be attached to the account. With the Royale Account comes the Platinum Debit Card that provides enhanced daily cash withdrawal limit. This lifetime free debit card provides you privileges, which span lifestyle pursuits like shopping, dining and travel. Features of IDBI Royale Account:

Zero balance Power Plus account for the one family member Free Locker (5x6x19) or 50% discount in other locker rentals. Higher limit of cash withdrawal from any bank ATM. (with Platinum/Gold debit card).

Higher Limit for Point of sale. Discount on Demat transaction charges Doorstep banking. Free Personalised PAP Cheque Book. Free Demand Draft and Payorder

Deposits SAVINGS ACCOUNT:


Regular Savings Account
At IDBI Bank, we believe that different people have different needs. Thus, we offer various different types of Savings Account to cater to our diverse customer base. Be it individuals, kids, women, corporates, senior citizens, we have an account tailor-made for each one of them. The various types of Savings Account offered By IDBI Bank are as follows: Choose from various range of Personal Banking services like: SuperSavings Account SuperShakti (Womens') Account Jubilee Plus (Senior Citizens) Account Power Kidz Account Sabka Account -No Frill account Pension Savings Account (Central Government Employees)

At IDBI Bank, it is our constant endeavor to provide you products and services that will enhance your banking experience. From time to time we identify your needs and produce quality products that will simplify banking for you. Our extensive branch and ATM network, technology initiatives, and correspondent banking arrangement with banks across the globe have leveraged us to provide superior services. Savings Account Interest Rate - 4.00% p.a. (w.e.f. May 03,2011)

Corporate Payroll Account


At IDBI Bank, we understand your needs as an employer. In this fast paced world with ambitious targets and mounting pressures, you want to provide your employees nothing but the best in terms of banking convenience. Our Salary account product with no minimum balance requirement, instant account opening, and reimbursement account is just the right solution for you. The types of Salary Accounts that we offer are as follows: Imperial Salary Account Crown Salary Account Star Salary Account Prime Salary Account Pride Salary Accounts

Retirement Plus Pension Account

Indian

Navy

Pride

Crown

and

Imperial

Accounts

(Special

Accounts)

Note: Salary Account is a special account offered to customers with regular direct salary credits coming into this account. In case, the monthly salary is not credited into the account for more than 3 consecutive months, the special features offered under Salary account shall stand withdrawn and the account shall be treated as Normal Savings Account.

CURRENT ACCOUNT:
Core Current Account
No two businesses are the same, which is why at IDBI Bank; we offer different types of Current Accounts to choose from, to our customers. The types of Current Accounts that we offer are as follows: Our Core Current Account is a straightforward and easy to use Current Account designed to make even the smallest of business experience hassle free. The Core Current Account comes loaded with a number of features, which include:

Free Free Free Free Free Free Free Free Free

PAP (payable at par) chequebook PAP utilisation Electronic Funds Transfer Pay Orders and Demand Drafts Demand Drafts on non-branch locations home / non-home branch cash deposit any branch cash withdrawal Internet/ mobile/ Phone Banking and ATM services other bank ATM transactions

Premium Current Account


At IDBI Bank, you can expect state-of-the-art and innovative banking products and services that will make banking a pleasant experience for you. With the Premium Current Account you get: Free Free Free Free Free Free Free PAP (payable at par) chequebook PAP utilisation Electronic Funds Transfer Pay Orders and Demand Drafts Demand Drafts on non-branch locations home / non-home branch cash deposit any branch cash withdrawal

Free Cash/Cheque/Documents Pick-up and Delivery Free Internet/ mobile/ Phone Banking and ATM services Free other bank ATM transactions Free Fire insurance upto Rs. 5 lakhs. A dedicated Relationship Manager to help you service your account

Home Loan
Home, sweet home, built out of your dreams. A place where you return after a hard day's work and relax, a place where you share precious moments with your family. A place that gives you a sense of belonging. IDBI Bank helps you realise your long cherished dream of owning your home through hassle free and customer friendly home loans. Presenting IDBI Bank's ultra flexible home loan you have been looking for. We realise what owning your home means to you and your family. You can avail of the Home Loans for constructing a home, purchasing a ready built house / flat, residential plot and even for re-financing existing loans you may have availed from other banks or housing finance companies. Click here to apply. Advantages of IDBI Bank Ultra Flexible Home Loans

Maximum Funding Flexibility of choosing between Floating or Fixed interest rate Attractive rate of interest EMI on daily reducing balance Personalised doorstep service Simple documentation Legal and technical assistance Balance transfer facility Reassessment and adjustment of applicant's loan eligibility in case of change of income and residence status

Features

Tenor of a home loan can be up to 25 years for a resident individual whereas for NRIs the maximum tenure is 15 years subject to maximum age of 60 years at maturity. Loan can be applied for a maximum of 90% of the property value subject to credit discretion. Security for the loan is a first mortgage of the property to be financed, normally by way of deposit of the title deeds or such collateral security as may be necessary. Title to the property should be clear and free from encumbrance, i.e., without any pending legal litigation adversely affecting the ownership of the property. Other parameters considered include an account of your age, income, number of

dependents, financial stability and co-applicants income. Tax Benefits As per the current finance bill you can get:

A maximum deduction of Rs. 1,50,000 on your income towards interest paid on your home loans u/s 24 A maximum deduction of Rs. 1,00,000 on the principal repaid u/s 80 CCE The above benefits are available subject to you fulfilling certain conditions, for which you should refer the IT Act 1961