Tag: growth of banks in india

IDBI was corporatized as IDBI Ltd in 2004 and subsequently renamed IDBI Bank Ltd in 2008 to reflect its transition to a full-service commercial bank.

The first Export Processing Zone (EPZ) in India was established at Kandla in 1965 to promote exports.

Kandla, located in Gujarat, was the site of India's first Export Processing Zone (EPZ), established in 1965.

The Industrial Development Bank of India (IDBI) was established in 1964 by an Act of Parliament to provide credit and other financial facilities for the development of industry.

IDBI was initially set up as a Development Financial Institution (DFI) to provide long-term finance to industrial projects.

SIDBI was established on April 2, 1990, through an Act of Parliament to serve as the principal financial institution for the promotion and development of the MSME sector.

On July 1969, fourteen major private commercial bank of India were nationalized which included Indian bank, Indian Overseas bank, Canara bank etc in order to increase the efficiency of public sector. 

IFC was established on July 20 1956.