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IDBI Bank started as the Industrial Development Bank of India in 1964 but has since become a commercial bank. It is now owned by the Life Insurance Corporation of India (LIC) and the Government of India, with LIC holding a controlling stake since January 2019. The bank aimed to expand its operations and improve its banking services.

IDBI Bank offers a wide range of financial products and services, including banking for individuals and businesses, various types of loans, and investment options. For individual customers, the bank provides services like savings accounts, fixed deposits, and personal loans. On the corporate side, IDBI Bank offers services such as project finance, working capital loans, and trade finance.

As of April 2024, IDBI Bank has over 2,000 branches and 3,300 ATMs across India, with an overseas branch in Dubai. The bank also provides digital services like internet and mobile banking for customer convenience. Despite past challenges with non-performing assets (NPAs), IDBI Bank has shown resilience and is focused on improving its financial health and customer service.