south Dumdum is an emerging city in the Indian state of West Bengal. It is a municipality in the Barrackpore subdivision of the North 24 Parganas district and consists of localities like Nagerbazar, Dum Dum Park, Lake Town, Bangur Avenue. The South Dumdum municipality was established in 1870. During the partition of Bengal in 1947, several refugees had migrated to this area from erstwhile East Pakistan. Initially, the bulk of refugees were mostly non-agriculturists and they made some vocational arrangements of their own by taking to squatting. They indulged in the forcible occupation of barracks and collectively took-over the private and government lands. By the year 1949, 65 refugee colonies had emerged in the area. Within very less time, these squatters not only found places to stay but also developed a properly functioning society with markets, schools, temples and eventually built colleges, hospitals and recreational centers. The South Dum Dum has over 4 lakh residents now. It has developed well with all civic amenities. It is mostly a residential city and most of the residents travel to the adjoining metro city of Kolkata for work.
IDBI Bank was established to provide credit and other financial facilities for the development of the fledgling Indian industry, in 1964. The Government of India owns it. It is a nationalized bank treated on par with State Bank of India (SBI) and other nationalized banks as per the notification dated 26th February 2013 by the finance ministry. At present,77% stake in IDBI Bank is holding by the government. In the current fiscal of 2017-18, the bank made a loss of Rs.853 crore compared to a profit of Rs.241 crore earned during the last fiscal year. It currently has 3,817 ATMs, 1,995 branches, including one overseas office in Dubai. On June 29, 2018, Life Insurance Corporation of India (LIC) has got a technical go-ahead from IRDAI to increase stake in IDBI Bank up to 51%. The RBI formed a committee which recommended the development financial institution (IDBI) to diversify its activity and harmonize the role of development financing and banking activities by getting away from the conventional distinction between commercial banking and developmental banking. The bank had 16,555 employees, out of which 197 were employees with disabilities, as on 31st March.