idbi bank online test Industrial Development bank of India
(IDBI) was constituted under Industrial Development bank of India Act, 1964 idbi bank online test as a Development
Financial Institution and came into being as on July 01, 1964 idbi bank online test vide GoI
notification dated June 22, 1964. idbibank online test It was regarded as a Public Financial Institution in terms
of the provisions of Section 4A of the Companies Act, 1956. idbi bank online test It continued to
serve as a DFI for 40 years till the year 2004 when it was transformed into a
Bank. idbi bankonline test In response to the
felt need and on commercial prudence, it was decided to transform IDBI into a
Bank. idbi bankonline test For the purpose, Industrial Development bank (transfer of undertaking
and Repeal) Act, 2003 idbibank online test [Repeal Act] was passed repealing the Industrial Development
Bank of India Act, 1964 idbibank online test. In terms of the provisions of the Repeal Act, a new company
under the name of Industrial Development Bank of India Limited (IDBI Ltd.) idbi bank online test was incorporated as
a Govt. Company under the Companies Act, 1956 on September 27, 2004 idbi bank online testThereafter, the
undertaking of IDBI was transferred to and vested in IDBI Ltd. with effect from
the effective date of October 01, 2004 idbi bank online test. In terms of the provisions of the
Repeal Act, IDBI Ltd.
idbi bank online test has been functioning as a Bank in addition to its earlier
role of a Financial Institution. The United Western Bank Ltd. (UWB), a Satara
based private sector bank was placed under moratorium by RBI idbi bank online test. Upon IDBI Ltd.
showing interest to take over the said bank towards its further inorganic
growth, RBI and Govt. of India amalgamated idbi bank online test 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.idbi bank online test
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