IDBI Bank to incorporate Dedicated CSR Foundation of Bank as a Wholly Owned Subsidiary

NEW DELHI: In a major initiative, the Board of Directors of IDBI Bank have taken decision to incorporate CSR Foundation of the bank as a wholly owned subsidiary. This will come under Section 8 of the Companies Act, 2013.

According to the exchange filing, the Board of Directors of the Bank, at its meeting held on January 17, 2026, have approved the proposal for incorporation of CSR Foundation of the Bank as a Wholly Owned Subsidiary, which will be a Section 8 company under the Companies Act, 2013 .

The details required under SEBI’s Master Circular will be disclosed in due course, after the incorporation of the CSR Foundation with Ministry of Corporate Affairs (MCA), the filing further added.

The Primary objective of this will focus on areas like eradicating hunger, promoting education and skills, healthcare, sanitation, along with environmental sustainability, with projects like transforming villages and supporting disadvantaged groups.

The new foundation achievement will ease to manage the bank's diversified community initiatives which is build on previous successful motive in disaster relief and rural development, and aligning with regulatory guidelines.