Bhiwani, a city and a municipal council, is located in the Bhiwani district of the Indian state of Haryana. It is a seat of spiritual learning and the center of regional politics. Bhiwani was known as the Gate of Rajputana before the independence. The city had 12 mighty gates in the 14th century, constructed by Thakur Neem Singh. Bhiwani is known for its conventional school of boxing. Many members of the Indian Boxing Squad are from Bhiwani. Some believe that Bhiwani got its name from Goddess Gauri Bhawani, yet another belief prevails that the name is derived from a Rajput Queen by the name of Bhani. The town has been a prominent center of commerce since the Mughal era. The town is also known for its numerous temples which earns it the name of "The Kashi of Haryana." Bhiwani is known for its textile industry and it houses the Grasim Textile Mills. The Technological Institute of Textile & Sciences at Bhiwani is Indias top textile research institute that was established by the Birla Group. There are also a few other colleges offering courses in technology, nursing and general disciplines.
The IDBI Bank Ltd provides personalized banking and financial solutions to its customers in the retail and corporate sector via the network of branches, ATMs and internet banking. Core IT banking platform drives the operations of IDBI. Under the Parliament Act, IDBI Bank was constituted in 1964 as a wholly-owned subsidiary of the RBI. In 1976, GOI took the ownership of IDBI, and it was regarded as the public financial institution in the finance and development industry. In July 1995, the government holding in the bank shares came down from 100% to 75% due to the public issue of IDBI. In the year 2004, the IDBI was transformed into the bank from DFI. IDBI obtained the status of a limited company under Transfer of Undertaking and Repeal Act, 2003 (Repeal Act). The scheduled bank status was given to IDBI Bank by the Reserve Bank of India under the RBI Act, 1934. Consequently, the IDBI formally entered into the banking business as IDBI Ltd. The United Western Bank Ltd was with IDBI Ltd in 2006, under the provisions of section 45 of Banking Regulation Act, 1949. In the year 2008, the name of the bank was changed from IDBI Ltd to IDBI Bank Ltd, and a fresh certificate of incorporation was issued.