Industrial Development Bank of India (IDBI), established under the Industrial Development Bank of India Act, 1964, is the principal financial institution for providing credit and other facilities for development of industry, coordinating working of institutions engaged in financing, promoting or developing industries and assisting the development of such institutions. IDBI has been providing direct financial assistance to large industrial concerns and also helping small and medium industrial concerns through banks and state-level financial institutions. The IDBI was transformed into IDBI Ltd. On 1 October 2004, a company under the companies Act, 1956 and a schedule Bank (on 11 October 2004) under the RBI Act) 1934.
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