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HDFC Bank, established in 1994, is a leading private sector bank in India. It offers a wide range of financial products and services, including retail and wholesale banking, treasury, and digital banking solutions. HDFC Bank has a strong presence across India with a vast network of branches and ATMs. It has a reputation for its customer-centric approach, innovative products, and robust technology platforms. The bank has consistently demonstrated strong financial performance and has received numerous awards and recognition for its excellence in banking. HDFC Bank is committed to sustainable growth and social responsibility through its various initiatives in areas such as education, rural development, and financial inclusion.

Latest News on IDBI Bank

IDBI Bank Makes a Generous Donation: Gifts 44-Seater Air-Conditioned Bus to Nagpur’s Mayo Hospital

IDBI Bank has donated a 44-seater air-conditioned bus to Indira Gandhi Medical College and Hospital (Mayo Hospital) as part of its corporate social responsibility (CSR) initiative. The bus, which was presented to the hospital’s dean, Dr. Ravi Chauhan, will be used to organize community health camps in urban and rural areas of Nagpur, providing healthcare services to underprivileged populations. This initiative is a part of IDBI Bank’s 60th anniversary celebrations.

Speaking at the formal handing over ceremony, IDBI Bank’s chief general manager and zonal head, Shrikant Tirpude, expressed his hope that the initiative would help extend healthcare services to those in need and improve medical outreach in rural areas. Senior officials from IDBI Bank were also present at the event, as well as senior officials from the medical college and hospital.

The bus will be used to conduct community health camps, which will enhance healthcare accessibility for underprivileged populations. This initiative will help bridge the gap in healthcare services, particularly in rural areas, where access to medical facilities is often limited. The event was also attended by heads of various departments at the medical college and hospital.

This donation is a significant step towards promoting social responsibility and contributing to the well-being of the community. IDBI Bank’s initiative demonstrates its commitment to Corporate Social Responsibility (CSR) and its efforts to make a positive impact on society. The donated bus will make a significant difference in the lives of those in need, providing them with access to essential healthcare services.

IDBI Capital is poised to launch two new venture capital funds, expanding its investment portfolio.

IDBI Capital Markets and Securities Ltd, the alternative investment arm of IDBI Bank, is planning to launch two new venture capital funds by the end of 2025, according to a senior company executive. The announcement comes as the company seeks to expand its presence in the rapidly growing Indian venture capital space.

IDBI Capital, which has been in operation since 1998, currently manages two existing venture capital funds. The planned launch of two new funds marks a significant expansion of the company’s investment portfolio, driven by increasing demand for venture capital investments in India.

The new funds are expected to focus on supporting early-stage startups in various sectors, including technology, healthcare, and fintech. The company is likely to invest in Indian startups through these funds, providing them with necessary capital to scale their businesses and drive growth.

The company’s decision to launch new funds is in line with the growing trend of large financial institutions venturing into alternative investments, such as private equity and venture capital. This trend is driven by the attractive returns generated by these assets, as well as the increasing demand for investment opportunities in emerging markets like India.

IDBI Capital’s move to launch new funds is also expected to create a positive impact on the startup ecosystem in India, as it will provide additional funding options for early-stage startups. With a presence in multiple sectors, the company is likely to support a diverse range of businesses, from tech-enabled startups to socially responsible enterprises.

In conclusion, the proposed launch of two new venture capital funds by IDBI Capital is a significant development in the Indian startup ecosystem. The company’s expansion plans are expected to create new opportunities for Indian startups, driving growth and innovation across various sectors.

Senior citizens can now earn up to 9.5% interest on fixed deposits as FD rates surge after RBI’s 25-bps repo rate cut – MSN

In response to the Reserve Bank of India’s (RBI) decision to cut the repo rate by 25 basis points, several senior citizen-focused fixed deposit (FD) schemes are offering interest rates as high as 9.5%. The RBI’s move is expected to boost economic growth and credit growth, leading to increased interest rates offered by banks and financial institutions.

Here are some senior citizen FD schemes with attractive interest rates:

* Bank of India’s Senior Citizen Scheme offers a fixed interest rate of 8.75% per annum for FDs up to ₹5 lakh.
* IDBI Bank’s Senior Citizen Savings Scheme offers a fixed interest rate of 9.05% per annum for FDs up to ₹1 lakh.
* Union Bank of India’s Senior Citizen Deposit Scheme offers a fixed interest rate of 8.75% per annum for FDs up to ₹1 lakh.
* Allahabad Bank’s Senior Citizen FD Scheme offers a fixed interest rate of 8.85% per annum for FDs up to ₹5 lakh.
* Canara Bank’s Senior Citizen FD Scheme offers a fixed interest rate of 8.95% per annum for FDs up to ₹5 lakh.
* Karnataka Bank’s Senior Citizen FD Scheme offers a fixed interest rate of 9.25% per annum for FDs up to ₹5 lakh.

These senior citizen FD schemes typically require a minimum deposit amount of ₹5,000 to ₹1 lakh, depending on the bank and the scheme. The interest rates are compounded quarterly or annually, and the maturity period ranges from 7 days to 5 years.

With these attractive interest rates, senior citizens can consider FDs as a low-risk investment option that offers a relatively high return. It’s essential to note that interest rates are subject to change and may vary depending on the bank and scheme. Senior citizens should carefully review the terms and conditions of the FD scheme before investing.

The RBI’s decision to cut the repo rate is expected to lead to a boost in economic growth, which in turn may lead to increased credit growth and lending by banks and financial institutions. As a result, interest rates offered by senior citizen FD schemes are likely to remain attractive, providing a compelling investment option for senior citizens.

IDBI Executive ESO Results for 2024 Now Available: Download Your Score Now

The Industrial Development Bank of India (IDBI) has announced the release of the IDBI Executive ESO Final Result 2024. This result marks the culmination of a rigorous recruitment process for the post of Executive under the ESO (Executive- Sales and Operations) recruitment drive. A total of 1,000 candidates are being selected for the position.

The selection process involved an online exam and an interview, and the results have been made available on the IDBI’s official website (www.idbibank.in). Candidates who have been selected can check their result by entering their registration number and date of birth/password.

The result includes important details such as the candidate’s name, qualifying status, marks obtained, and instructions for the successful candidates. The next step for the selected candidates will be joining formalities, which will be informed to them by the bank shortly.

The role of an IDBI Executive is dynamic, involving banking operations, customer relations, and administrative duties. For those who were not selected, the IDBI Executive ESO Final Result 2024 serves as a motivation to stay focused and work towards future success.

The steps to download the result are as follows:

1. Visit the official website of IDBI Bank: www.idbibank.in.
2. Navigate to the Careers section on the homepage.
3. Click on the link titled “IDBI Executive ESO Final Result 2024.”
4. Enter your registration number and date of birth/password.
5. Click on Submit.
6. Download and save the final result for future reference.

With this development, IDBI is expected to release joining dates and allocation details shortly. Selected candidates should regular monitor the official website and their registered email for updates.

DIPAM Secretary Arunish Chawla confirms that IDBI divestment is moving ahead as scheduled in the upcoming Budget 2025.

The divestment of IDBI Bank is progressing as planned, according to Arunish Chawla, Secretary of the Department of Investment and Public Asset Management (DIPAM). Despite regulatory hurdles, including a delay caused by the Reserve Bank of India’s (RBI) review process, the process is now back on track. Tuhin Kanta Pandey, Secretary of Finance, expressed optimism about the next steps, stating that the due diligence process has begun and necessary approvals from the RBI have been cleared.

Pandey noted that the market has already been informed of the situation, and the focus is now on receiving financial bids for the sale of the government’s stake in IDBI. He suggested that financial bids are expected to be submitted by March, with a subsequent process to follow. The key milestones leading to the final outcome of the divestment have been outlined, with the goal of completing the process in the near future.

The divestment of IDBI Bank has been a long-awaited event, and the progress is a positive development for stakeholders. The process has been delayed due to regulatory hurdles, but it appears that the necessary approvals have now been cleared, and the process is moving forward. The exact timeline for the divestment is still unclear, but it is expected to be completed in the coming months.

Stock Market Updates of IDBI Bank

Recent Updates

SBI, IDBI Bank, PNB, and Bank of Baroda launch new FD schemes: Discover the key features and details today!

Bank of Baroda has launched a new scheme, the Liquid Fixed Deposit (LFD), designed for retail investors. This unique product combines the benefits of assured returns, flexibility, and liquidity, making it an attractive option for those looking for a fixed deposit scheme. Unlike traditional fixed deposits, the LFD allows for partial withdrawals from the principal amount without having to close the entire deposit. This feature significantly reduces the penalties associated with premature withdrawals, making it an appealing option for those who may need to access their funds before the maturity period.

The Liquid FD scheme is designed to cater to both short-term liquidity and long-term savings goals. The interest rate on this scheme will be the same as the prevailing interest rates on term deposits, which range from 4.25% to 7.15% for general citizens. This means that investors can expect competitive returns on their deposits, while still having the flexibility to access their funds as needed.

The BoB Liquid Deposit Scheme offers several benefits, including:

1. Assured returns: Investors can earn interest on their deposits, providing a predictable income stream.
2. Flexibility: The scheme allows partial withdrawals without closing the entire deposit, reducing premature withdrawal penalties.
3. Liquidity: Investors can access their funds as needed, making it an excellent option for those with short-term liquidity needs.
4. Competitive returns: The scheme offers competitive interest rates, making it an attractive option for those looking to save and invest.

Overall, the Bank of Baroda Liquid Fixed Deposit scheme is a unique and attractive option for retail investors seeking a combination of assured returns, flexibility, and liquidity. By offering competitive interest rates and reducing premature withdrawal penalties, this scheme provides investors with a practical solution for their short-term and long-term savings goals.

IDBI Bank Ltd. announces Financial Results for the Quarter and Nine Months Ended December 31, 2024

IDBI Bank has announced its financial results for the quarter and nine months ended December 31, 2024. The bank has reported a significant growth in its financial performance, with a net profit of ₹1,908 crore, a 31% year-on-year (YoY) increase. The operating profit stood at ₹2,802 crore, while the net interest income was at ₹4,228 crore, with a 23% YoY growth. The net interest margin (NIM) was recorded at 5.17%, while the cost of deposit stood at 4.63%, a slight increase from 4.34% in Q3-2024.

The bank’s asset quality also showed significant improvement, with the net non-performing asset (NPA) ratio declining to 0.18%, down from 0.34% as on December 31, 2023. The gross NPA ratio was also down at 3.57%, compared to 4.69% as on December 31, 2023. The provisioning coverage ratio (PCR) was steady at 99.47%, up from 99.17% as on December 31, 2023.

The bank’s return on assets (ROA) was 1.99%, up 29 basis points (bps) from 1.70% in Q3-2024, while the return on equity (ROE) stood at 20.13%, a 56 bps increase from 19.57% in Q3-2024. Capital adequacy ratio (CRAR) was recorded at 21.98%, with a 166 bps YoY growth.

Overall, the bank’s financial performance in Q3-2025 has been strong, with significant growth in profits, a decline in NPAs, and an improvement in asset quality. The bank’s cost of deposit has increased slightly, but its NIM has remained steady, indicating a strong performance in the quarter.

SBI, IDBI Bank, PNB, and Bank of Baroda roll out new fixed deposit schemes in January 2025, offering exciting interest rates to customers.

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Several major Indian banks, including State Bank of India (SBI), IDBI Bank, Punjab National Bank, and Bank of Baroda, have launched new fixed deposit (FD) products in January 2025 to attract more deposits. These schemes offer higher returns, greater flexibility, and tailored options for specific customer segments.

SBI has introduced two new deposit schemes for retail investors. The Har Ghar Lakhpati RD scheme is a pre-calculated recurring deposit scheme that helps customers accumulate Rs1 lakh or its multiples, while the SBI Patrons FD is a special fixed deposit scheme exclusively for super senior citizens (80+ years) with an additional 0.10% interest rate over the standard senior citizen rate.

IDBI Bank has launched the IDBI Chiranjeevi-Super Senior Citizen FD, a limited-period Utsav FD scheme offering attractive interest rates, with the highest being 8.05% per annum for a tenure of 555 days. This scheme is designed to address the financial needs of individuals aged 80 years and above.

Punjab National Bank (PNB) has introduced two new tenures, 303 days and 506 days, with interest rates ranging from 7% to 7.25% for general citizens and 7.25% for senior citizens. Bank of Baroda’s Liquid Fixed Deposit scheme allows partial withdrawals without closing the entire deposit, reducing premature withdrawal penalties and ensuring easy access to funds.

These new FD products cater to various customer segments, including super senior citizens, general citizens, and retail investors. With interest rates ranging from 6.7% to 8.05% per annum, these schemes provide attractive returns for investors looking to save and grow their money. It is essential for investors to review the terms and conditions, interest rates, and other benefits before investing in these schemes.

IDBI Bank’s board clears Rakesh Sharma’s re-appointment as MD & CEO for a three-year term.

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The Board of Directors of IDBI Bank has approved the re-appointment of Rakesh Sharma as Managing Director and Chief Executive Officer (MD & CEO) for three years, effective March 19, 2025. This decision was made in accordance with the Reserve Bank of India’s (RBI’s) approval. Sharma has been leading IDBI Bank since October 10, 2018. Prior to joining IDBI Bank, he was the MD & CEO of Canara Bank from September 11, 2015, to his superannuation on July 31, 2018.

The re-appointment comes at a critical time for the bank, as its promoter, Life Insurance Corporation of India (49.24% stake), and the second-largest shareholder, the Government of India (45.48% stake), have begun the process of disinvesting their stake in the bank. In October 2022, the Government of India issued a Preliminary Information Memorandum, inviting expressions of interest for the strategic disinvestment of the bank, which would include the sale of the GOI and LIC’s equity stakes, as well as the transfer of management control.

The re-appointment of Rakesh Sharma as MD & CEO is seen as a key development in this process, as he has a deep understanding of the Indian banking sector and has experience leading two major public sector banks. His leadership will be crucial in guiding IDBI Bank through this period of significant change, as the bank undergoes a significant transformation.

Under Sharma’s leadership, IDBI Bank has made significant advancements, including a strong focus on digital transformation, the introduction of new products, and the improvement of operational efficiency. His re-appointment will ensure continuity and stability for the bank, as it navigates the challenges and opportunities that lie ahead. Overall, the re-appointment of Rakesh Sharma as IDBI Bank’s MD & CEO is a positive development that will help the bank to continue its envisioned growth and development plans.

IDBI Bank’s Alwarpet branch partners with GCC school in Mysore to support education initiatives.

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As part of its Corporate Social Responsibility (CSR) initiative, the IDBI Bank’s regional office in Chennai, which manages 31 retail branches, has decided to support local area schools. The bank’s Alwarpet branch is taking the lead by providing computers and xerox machines to the Chennai Higher Secondary School located in Bheemana Street in Alwarpet. This initiative aims to empower the school and its students, helping to bridge the gap in educational resources and infrastructure.

The formal event to formalize the donation is scheduled to take place on January 21 afternoon at the school campus. The event will be led by Christo Jasper, the bank manager, who can be reached at 7010160128 for any further information or clarification.

This CSR activity is a significant step forward in the bank’s efforts to give back to the community and contribute to the development of the region. By providing these essential resources, IDBI Bank is making a tangible impact on the lives of the students and teachers at Chennai Higher Secondary School.

The provision of computers and xerox machines will enable the school to upgrade its infrastructure, providing a better learning environment for its students. The computers will help facilitate digital learning, opening up new avenues for education and skill development. The xerox machines will improve document management and reduce the need for manual duplication, freeing up valuable staff resources.

This initiative is a testament to IDBI Bank’s commitment to community development and its role in building a better tomorrow for the citizens of Chennai. By partnering with local schools, the bank is investing in the future of the region, enabling young minds to grow and prosper. As a responsible corporate citizen, IDBI Bank’s CSR activities are making a positive difference in the lives of those who need it most.

IDBI Bank introduces the IDBI Chiranjeevi-Super Senior Citizen Fixed Deposit, offering a unique savings option for senior citizens.

IDBI Bank has launched a new fixed deposit product called the ‘IDBI Chiranjeevi-Super Senior Citizen FD’, specifically designed for individuals aged 80 years and above. This initiative aims to address the financial needs of this age group by offering a more attractive interest rate compared to the bank’s standard fixed deposit rates.

The IDBI Chiranjeevi-Super Senior Citizen FD offers a peak interest rate of 8.05% per annum for a 555-day tenure, in addition to other tenures ranging from 7.85% to 8.00% per annum for different tenures. This is 65 basis points (bps) higher than the bank’s standard fixed deposit rates and 15 bps higher than the senior citizen rates.

Shri Sumit Phakka, Deputy Managing Director at IDBI Bank, welcomed the launch of this new product, stating that it was designed with the unique needs of super senior citizens in mind. The product provides a safe and secure investing option, ensuring financial security and peace of mind for this age group.

This product is expected to be a boon for individuals aged 80 and above, who can take advantage of the high-interest rates offered by IDBI Bank. With this offering, IDBI Bank demonstrates its commitment to catering to the financial needs of all age groups, including the most senior citizens. The IDBI Chiranjeevi-Super Senior Citizen FD is an attractive option for those seeking a fixed income and flexibility in their investment.

According to a report by the Economic Times, India is expected to reduce its disinvestment target for FY25 by approximately 40%.

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The Indian government is reportedly planning to significantly reduce its target for disinvestment and asset monetization for the fiscal year 2024-25. Citing sources aware of the deliberations, The Economic Times has reported that the government is expected to cut the target by 40% from the initial 500 billion rupees to around 300 billion rupees, which is roughly $3.47 billion. This reduction comes as the planned sales of state-run firms are facing numerous hurdles, including regulatory issues, valuation problems, and complex decision-making.

The Finance Ministry has so far raised only 86.25 billion rupees from disinvestments in the current fiscal year. To revive the stake sale process, the government intends to conclude the sale of 60.7% of the state-owned lender, IDBI Bank, to state-owned Life Insurance Corp of India. IDBI Bank owns 45.48% and Life Insurance Corp of India owns 49.24% respectively. The process of selling this stake was initially announced in 2022, but has stalled due to difficulties in completing the deal.

India’s Prime Minister Narendra Modi had earlier aimed to privatize several state-run companies, but faced numerous challenges along the way, including regulatory issues and valuation hurdles. Despite the setbacks, his government has reportedly raised more capital through stake sales than any previous administration. Moving forward, the government plans to continue reducing its stakes in select entities through an offer-for-sale route. Overall, the Indian government’s ability to meet its disinvestment target will depend on its ability to overcome the complex issues and navigate the challenges ahead.