Pune is a bustling and vibrant metropolis in the state of Maharashtra. Being the second largest city in the state after Mumbai, Pune has become a thriving center of academia and business. The people of Pune lovingly call the city by its erstwhile name "Poona." Pune, coupled up with its industrial counterpart Pimpdi-Chinchwad and three other cantonments, forms the Pune Metropolitan Region or PMR. Looking into the historical past of the city, Pune was ruled by Shivaji and a line of Peshwas till the British took over in 1817 and made it the monsoon capital of the Bombay Presidency. Geographically, the city is located near the Western Ghats at one side, the Deccan Plateau on the other and the Mutha River flows along the left edge of the city. The cool, dry and soothing climate of Pune makes Pune a much-coveted city to settle in. Pune experienced the waves of globalization in the 1990s. The city hosts many well-known educational institutions and is often called the "Oxford of the East." The local economy of the state thrives on education, manufacturing and information technology. With its dynamic mix of capitalism and spiritualism, ancient and modern architecture, and its diverse cultural trends, Pune epitomizes the New India, a city worth exploring.
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.