3. About IDBI:
The Industrial Development Bank of India Limited commonly known
by its acronym IDBI. It is one of India's leading public sector banks
and 4th largest Bank in overall ratings. RBI categorized IDBI as an
"other public sector bank". It was established on July 1, 1964 by an
Act of Parliament .The main aim behind setting up of IDBI was to
provide credit and other facilities for the Indian industry, which was
still in the initial stages of growth and development. The Industrial
Development Bank of India (IDBI) was established under an Act of
Parliament as a wholly owned subsidiary of the Reserve Bank of
India.
4. Mission :
Delighting customers with our excellent service and comprehensive
suite of best-in-class financial solutions;
Touching more people's lives with our expanding retail footprint while
maintaining our excellence on corporate and infrastructure financing;
Continuing to act in an ethical, transparent and responsible manner,
becoming the role model for corporate governance;
Deploying world class technology, systems and processes to improve
business efficiency and exceed customer’s expectations;
Encouraging a positive, dynamic and performance-driven work culture
to nurture employees grow them and build a passionate and committed
work force;
Expanding our global presence;
Relentlessly striving to become a greener bank.
6. Product (Cont.): Cards
Preferred Revision in
Debit Card Loyalty Points
IDBI Bank Magic Card
Being Me Debit Card
International Debit-cum-
ATM Card
Gold Debit-cum-ATM
Card
IDBI Bank Cash Card
IDBI Bank Gift Card
World / Global Currency
Card
Kids Debit Card
Platinum Card
Debit Card Offers
Women's Debit Card
Cash at POS Facility
Loans
Home Loan
Home Loan Interest Saver
Auto Loan
Education Loan
Personal Loan
Loan Against Property
Loan Against Property
(Overdraft)
Loan Against Property
(Interest Saver)
Loan for Commercial
Property Purchase
Loan Against Rent
Receivables
Loan Against Securities
Reverse Mortgage Loan
Fixed Deposit &
Lockers
Freedom Deposit
Suvidha Tax Saving
Fixed Deposit
Suvidha Suraksha
Recurring Deposit
Recurring Deposit
Godhuli Retail Term
Deposit
Floating Rate Term
Deposit
IDBI Bank Lockers
7. Contact Us :
Registered Office:
IDBI Bank Ltd.
IDBI Tower, WTC Complex,
Cuffe Parade, Colaba, Mumbai 400005.
Swift: IBKLINBB Customers can contact our 24 X 7 Phone Banking
numbers
from any Landline / Mobile number, our Toll free numbers are as
follows:
1800-200-1947
1800-22-1070
Debit Card Blocking Toll Free number: 1800-22-6999
Our Non-Toll Free number: (+91-22) 6693 7000
Contact number for outside India customers: (+91-22) 6693 7000
Anti-Corruption Hotline: 1800-22-8444 (10.00 am to 6.00 pm)
8. General Insurance
• Insurance is classified into Life and General
• Any insurance other than human lives comes
under the scope of General Insurance
• It is preferable to call this as General Insurance
instead of non-life insurance
• There is vast scope and the market is trying to
cope up with the demands of the market
• Insurance penetration is improving in India and
being the second largest developing economy
in the world the scope is huge
9. Insurance in India
• Marine insurance was being practiced in India from
the beginning of 19th
century
• Offices were established in Kolkatta which was the
centre for East India Company
• Fire insurance followed in 1825 at Madras
• Swadeshi movement also had its impact on Insurance
and first Indian Company was formed in 1907 – Indian
Mercantile Insurance Company
• Need to control insurance business was felt by the
British government which introduced the Insurance Act
in 1938 and Insurance Rules in 1939
10. Development in 1970
• Life Insurance business was nationalised in India in the year
1956
• General Insurance business was being done by 106 companies
including LIC (GI)
• On May 13th
1971 an ordinance was promulgated taking state
control of general insurance business with custodians in charge
• In 1972 GI Nationalisation act was passed allowing the
formation of GIC as the holding company and with 4
subsidiaries each having its Head Office at one metro
• 1st
Jan 1973 GIC and 4 companies were formed taking in them
106 companies and the 4 PSUs were taking care of the general
insurance business in the country till 2000 totally. GIC on its
own was also writing aviation and crop business besides
becoming the National & Asian Reinsurer
• The objective of nationalisation was to spread insurance to
nook and corner of the country and to utilise people’s money for
the people’s good thus uplifting the socio economic condition of
the country
11. Insurers now licensed by IRDA
• LIFE INSURERS
• 1. Bajaj Allianz
• 2. Birla sun life
• 3. HDFC Std life
• 4. ICICI Prduential
• 5. ING Vysya
• 6. LIC
• 7. Max New York Life
• 8. Metlife
• 9. Kotak Mahindra OM
• 10.SBI Life
• 11.TATA-AIG Life
• 12.Reliance Life
• 13.AVIVA life
• 14.Sahara India life
• 15.Shri Ram Life
• 16.Bharti AXA Life
• GENERAL INSURERS
• 1. Bajaj Allianz
• 2. ICICI Lombard
• 3. Iffco-Tokio General Insurance
• 4. National Insurance
• 5. New India Assurance Company
• 6. Oriental Insurance
• 7. Reliance General Insurance
• 8. Royal Sundaram Alliance
• 9. TATA-AIG General
• 10.United India Insurance
• 11. Cholamandalam MS General
• 12. HDFC Chubb General
• 13. Export Credit Guarantee
• 14. Agriculture Insurance Company
• 15. Star Health & Allied
• Sompho/ Shri Ram General/AXA/
Apollo DKV
12. Basic Principles of General Insce
• Insurance is a legal agreement entered
between Insured and Insurer due to which due
to the consideration, the Insurer agrees to
indemnify the Insured, for the loss or damage
or liability created due an accident which is
covered under the policy subject to the terms
and conditions of the contract
• All insurance policies are subject to the
warranties, conditions and clauses of the policy
contract and claims will be settled accordingly
13. Basic principles
• UTMOST GOOD FAITH- which is embodied in all
insurance contracts and appears in the conditions of
the policy documents.
• Since only the Insured who is the owner/possessing
the property he/she needs to declare the details which
are to be considered by the Underwriter. To obtain the
requisite details the Insurer arranges all questions in
order in the proposal form so that he/she knows where
to look for the required details. Material fact is the
detail of the risk which will influence the mind of the
Underwriter to accept/reject; and if to accept the rate
/terms at which the risk is to be accepted.
• Duty of disclosure is on the proposer/Insured and if
wilful concealment/ non-disclosure of facts could be
established the claim if any could be denied
14. Underwriting and claims
• Offer and acceptance- Proposal is studied by the Underwriter
who then quotes the premium terms, warranties and conditions
• Once accepted by the proposer and premium is paid, the cover
note is issued. Later on policy document is issued.
• Alterations/ changes are effected by endorsements
• Claim is being processed to take into account the salvage,
under-insurance and excess under the policy and many times
to deduct the additional premium for restoring the sum insured
to the original level by charging the additional premium on the
claim amount paid from the date of loss till the date of expiry.
• Claim will be subject to getting the subrogation rights preserved
against the third parties responsible for making good the loss
and transferring the same to Insurers
15. Conclusion:
• I conclude that these two are the one of
the most financial institutions which are
developing by introducing a lot of
schemes to the public for there safety of
future period.
