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Govt holds majority share.
Established in 1964 with the passing of the IDBI Act, Industrial Development Bank of India (IDBI) functioned as a Development Financial Institution (DFI) until FY04. Repeal of the IDBI Act by the Parliament in September 2004 endorsed the much-awaited transformation of IDBI into a bank. Post merger with IDBI Bank, the government holding in the entity stands at 58%.