IDBI Bank has completed the incorporation of IDBI Foundation as a wholly owned subsidiary, effective May 19, 2026. The new entity, structured as a Section 8 company under the Companies Act, 2013, has been established to implement the bank's Corporate Social Responsibility (CSR) initiatives.

The foundation will undertake activities focusing on education, healthcare, skill development, rural development, environmental sustainability, financial literacy, and entrepreneurship. These initiatives aim to foster inclusive growth, sustainable livelihoods, and measurable social impact, in line with Schedule VII of the Companies Act, 2013.

Regulatory Approval and Capital Structure

The Reserve Bank of India (RBI) granted the necessary approval for the incorporation of IDBI Foundation on October 31, 2025. IDBI Bank has subscribed to 100% of the total paid-up equity share capital of the subsidiary.

The cost of acquisition for the bank stands at ₹1,00,000, comprising 10,000 equity shares of ₹10 each. The subsidiary is yet to commence its business operations following its recent incorporation.

Key Details of IDBI Foundation

The transaction does not fall within related party transactions, and the promoter or promoter group does not hold any interest in the entity other than the bank's ownership.

IDBI Bank Limited has approved the re-appointment of Shri Jayakumar S. Pillai as Deputy Managing Director (DMD) on its Board. The decision was taken by the Board of Directors on May 19, 2026. The appointment is for a tenure of one year, effective from June 12, 2026, following the necessary approval from the Reserve Bank of India (RBI).

Shri Jayakumar S. Pillai (DIN: 10041362) is not related to any other Director or Key Managerial Personnel (KMP) of the Bank. The company confirmed that he is not debarred from holding the office of director by any SEBI order or other regulatory authority.

Profile of Shri Jayakumar S. Pillai

Shri Pillai possesses over 33 years of experience in the commercial banking sector. Prior to his current role, he served as the Chief General Manager of Canara Bank. He joined idbi bank in June 2023.

His extensive career includes leading branches across diverse regions and serving twice as a Circle Head. He also headed Canara Bank's operations in the United Kingdom, gaining significant international exposure.

Current Responsibilities

Shri Pillai currently leads the corporate business vertical of the Bank. In addition to this, he oversees several critical functions within the organization:

Furthermore, he holds administrative oversight of the Compliance and Risk Department. Shri Jayakumar S. Pillai also serves as the Chairman of the Board of IDBI Trusteeship Services Ltd.