IDBI Bank launches mobile banking service

Our Bureau Mumbai | Updated on July 01, 2014 Published on July 01, 2014

IDBI Bank on Tuesday introduced mobile banking service for its customers. This facility enables the customer to meet all banking needs such as fund transfer, bill payments, visa money transfer, DTH/ mobile recharge and much more from any destination.

To commemorate 50 years of its journey in the Indian financial sector, the public sector bank’s Chairman & Managing Director M.S. Raghavan also opened 50 new branches pan-India through e-inauguration.

With the opening of these new branches, IDBI Bank now has 1,467 branches, and 2,535 ATMs spread across 1,046 geographical locations of the country.

Founded on July 1, 1964 through an Act of Parliament, IDBI — the Development Financial Institution (DFI) — played the role of mentor during the pre-reform era (1964-91) in catalysing broad-based industrial development and creation of financial institutions in the country for financing corporates and MSEs. The institution was later transformed into a bank in October 2004.

Raghavan said: "IDBI Bank, today though only 10 years old as a commercial bank, is actually 50 years young with the rich legacy of IDBI, the development financial institution. These 50 years have been a wonderful journey for us and this celebration of golden jubilee would not have been possible without the trust, support and well wishes of our stakeholders.”

Published on July 01, 2014
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