Loni is a city in the Indian state of Uttar Pradesh. It falls under the National Capital Region. The city was first established as a Nagar Panchayat on the 31st of March, 1971. It covers an area of 34.68 square kilometers and hosts around 5 lakh residents. The city is divided into 45 wards under the Loni Nagar Palika Parishad which is run by 36 employees. The city has a moderate road and railway network connecting it to the other major cities in the proximity. The third phase expansion of Delhi Metro, which is still under construction, will connect the national capital to Loni. The city drew the attention of the rest of the nation when GAIL or Gas India Limited commissioned the worlds longest cross-country LPG transmission pipeline from Jamnagar to Loni in 2001. It is a residential city within the boundaries of Ghaziabad.
IDBI Bank was founded in 1964 under the Parliament Act as a wholly-owned subsidiary of the RBI. In 1976, GOI took the ownership of IDBI, and it became the primary financial institution for streamlining the activities of financing and developing industry institutions involved in India. In July 1995, After the public issue of IDBI, the government holding in the bank shares came down from 100% to 75%. RBI formed a committee which recommended the IDBI for diversification of its activities and harmonizing the role of development financing and banking activities by reducing the gap between commercial banking and developmental banking. To sync with reforms in the financial sector, IDBI reshaped to a commercial institution. IDBI obtained the status of a limited company under the IDB(Transfer of Undertaking and Repeal Act, 2003, viz, IDBI Ltd. The RBI conferred the scheduled bank status to IDBI under the RBI Act, 1934. As a result from 1st October 2004, the IDBI formally entered into banking business as IDBI Ltd. In the Forbes Global 2000, IDBI Bank was ranked 1197 in May 2013.Mr. B Sriram is the interim MD and CEO of the IDBI Bank. The equity shares of IDBI Bank is listed on Bombay Stock Exchange and NSE.