IDBI Bank has received in-principle approval to the proposal for merger of Stock Holding Corporation of India with itself subject to statutory / regulatory and shareholders' approvals as may be required in this regard.
The board at its meeting held on October 30, 2012 has approved the same.
Industrial Development Bank of India (IDBI Bank) is today one of India’s largest commercial Banks. For over 40 years, IDBI Bank has essayed a key nation-building role, first as the apex Development Financial Institution (DFI) (July 1, 1964 to September 30, 2004) in the realm of industry and thereafter as a full-service commercial Bank (October 1, 2004 onwards).
