Faridabad, the largest city in Haryana, is located very close to the Indian capital city New Delhi. It is an integral part of the National Capital Region (NCR) owing to its proximity to Delhi. Faridabad is an industrial city. The city is spread along the banks of the Yamuna. The city is a thoroughfare for the tourists visiting Vrindavan, Mathura and Agra. The economy of the city is run by a large number of small-scale and medium-scale industries. Faridabad happens to be one of the largest exporters of Henna in India. Various prominent companies have established their headquarters in Faridabad. Many IT Companies and MNCs have established their offices in the city, offering plenty of job opportunities. Large-scale companies like Yamaha Motors, Havells, Indian Oil, Larsen & Toubro, Whirlpool, etc. have their units and manufacturing plants in Faridabad. Faridabad is a massive economic hub in Haryana that generates more than 50% of the income tax for the state government. This city hosts many modern educational institutions including schools like Apeejay and DPS, as well as colleges like Institute of Management Technology and Institute of Hotel Management. There are certain tourist spots such as Badkhal lake, Surajkund, Digambar Jain Temple in and around the city.
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.