Subsidiary20 May 2026, 08:11 pm
IDBI Bank: IDBI Foundation Incorporated as Wholly Owned Subsidiary
AI Summary
IDBI Bank Ltd. announced the incorporation of IDBI Foundation as a wholly-owned subsidiary, effective May 19, 2026. IDBI Foundation is a Section 8 Company established to undertake Corporate Social Responsibility (CSR) initiatives. The Bank has subscribed to 100% of the equity share capital of IDBI Foundation, amounting to ₹1,00,000. The Reserve Bank of India (RBI) had approved the incorporation on October 31, 2025.
Key Highlights
- IDBI Foundation incorporated as a wholly-owned subsidiary of IDBI Bank on May 19, 2026.
- IDBI Foundation is a Section 8 Company for Corporate Social Responsibility (CSR) activities.
- IDBI Bank subscribed to 100% equity share capital of IDBI Foundation for ₹1,00,000.
- RBI approval for incorporation received on October 31, 2025.
- IDBI Foundation will focus on CSR initiatives like education, healthcare, and skill development.
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