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. idbi bank 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 bank online test In
response to the felt need and on commercial prudence, it was decided to
transform IDBI into a Bank. idbi bank online test For the purpose, Industrial Development bank
(transfer of undertaking and Repeal) Act, 2003 idbi bank online test [Repeal
Act] was passed repealing the Industrial Development Bank of India Act, 1964 idbi bank 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 idbibank 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. idbibank 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 te
