Idbi icici cds

Hi buddy can you plz tell me in which year ICICIs & IDBIs launch of CDS marked Formal Introduction of Local Currency CDS Market in India, as my uncle want to know about it ??

[pawan]

IDBI Bank was established in 1964 by an Act of Parliament to provide credit and other financial facilities for the development of the fledgling Indian industry.

As you want I am telling Indias largest private lender by assets, ICICI Bank and IDBI Bank, the seventh largest public sector bank in India together launched Indias first credit default swap (CDS) on 7 December 2011.

Credit default swap (CDS) was launched seven days after the product was cleared by the Reserve Bank of India on 30 November 2011. Public sector undertaking Rural Electrification Corporation (REC) bought the CDS cover for its Rs 5 crore loan from ICICI Bank.

Bank profile:

Type Government-owned bank

Traded as BSE: 500116

NSE: IDBI

Industry Banking, Financial services

Predecessor IDBI

Founded 1 July 1964, 52 years ago

Headquarters Mumbai India

Key people Mahesh Kumar Jain(Managing Director & CEO)

Products consumer banking, corporate banking, finance and insurance,
investment banking, mortgage loans, private banking, private equity, wealth
management, Agriculture Loan

Revenue 28,043.10 crore (US$4.4 billion) (2016)

Operating income 5,370 crore (US$840 million) (2016)

Net income -3,664.80 crore (US$−570 million) (2016)

Total assets 374,372.12 crore (US$58 billion) (2016)

Number of employees 17,570 (March 2016)

Capital ratio 11.76% (2016)