OREANDA-NEWS. August 17, 2012. Shri Anand Sinha, Deputy Governor, Reserve Bank of India launched the country’s first online portal for Certificate of Deposit (CD) christened IDBI Samriddhi CD Portal on August 6, 2012, at an event held at IDBI Bank’s Head Office at Mumbai. While launching this facility, Shri Anand Sinha, Deputy Governor, Reserve Bank of India commended the initiative and mentioned that technology provides great opportunities for increasing transparency, enhancing efficiency and also in reaching out to a wider investor base. He suggested that banks need to fully leverage on the potential of technology.

Commenting on the occasion, Shri R M Malla, Chairman and Managing Director, IDBI Bank stated that the Bank is committed to bring technology and transparency in the markets by offering products that are available to the entire investor community. Through this Portal, investors can easily purchase CDs issued by IDBI Bank, a premier PSU Bank in the country. Shri B K Batra, Deputy Managing Director, IDBI Bank, while speaking at the event, mentioned that IDBI Bank has always been at the forefront in introducing innovative products and services. He reiterated the Bank’s commitment to implementing initiatives taken by the Reserve Bank and the Government from time to time.

IDBI Bank is the youngest, new generation, public sector universal bank that rides on a cutting edge core banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 990 branches and 1587 ATMs. The Bank has an aggregate balance sheet size of Rs. 2,71,899 crore and total business of Rs 3,59,527 crore as on June 30, 2012. IDBI Bank's operations during the Quarter ended June 30, 2012 resulted in a net profit of Rs.427 Crore.