Attached herewith the updates on incorporation of IDBI Foundation as a wholly owned subsidiary of the Bank. Kindly acknowledge receipt.
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IDBI Bank has incorporated IDBI Foundation as a wholly owned subsidiary effective May 19, 2026. The subsidiary is a Section 8 Company under the Companies Act, 2013, set up to manage the Bank's Corporate Social Responsibility (CSR) initiatives. The foundation will focus on education, healthcare, skill development, rural development, sustainability, financial literacy, and entrepreneurship. The Bank subscribed to 100% of the equity share capital at a cost of Rs. 1,00,000 (10,000 shares at Rs. 10 each). RBI approval for the incorporation was received on October 31, 2025. The foundation is newly incorporated and has not yet commenced business operations.
This is a routine administrative filing for creating a CSR-focused subsidiary. The financial outlay is minimal at Rs. 1 lakh, and the move is expected to help the Bank systematically implement its social responsibility initiatives. No material impact on the Bank's financials or shareholder value is anticipated.