Meerut is a thriving city in the Indian state of Uttar Pradesh. It is the second largest urban agglomerate in the National Capital Region with nearly 1.5 million residents. It lies between the plains of the Ganga and the Yamuna. The city is known to be the largest manufacturer of sports equipment and musical instruments. Meerut was considered to be among the ancient cities of Hastinapur, the capital of the Kaurava and the Pandava kingdoms as mentioned in the Hindu epic Mahabharata. The city dates back to the ancient Indus Valley civilization. Meerut is divided into 80 wards for administration, which are represented by elected corporators. Meeruts economy is principally based on manufacturing industries. Apart from sports and musical instruments, the city also has textile, sugar, distillery, chemical, paper, publishing and handloom industries. Meerut is known for its gold market, which is one of the largest jewelry markets in Asia. Over 25,000 skilled craftsmen are employed in this market, who process around 60 kilograms of the gold in a day. Meerut also has many educational institutes like Sardar Vallabhbhai Patel University of Agriculture and Technology, Swami Vivekanand Subharti University and Shobhit University. Notable places to visit when traveling to Meerut include Amarnath Mandir, Gandhi Bagh, Basilica of Our Lady of Graces and Hastinapur Wildlife Sanctuary. The city has top-notch infrastructure as it is well connected to all the important cities in North India. Meerut is just 70 kilometers away from the country capital New Delhi. This proximity serves as a boon for Meerut as the connectivity ensures a citys economic welfare.
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.