About IDBI Federal Life Insurance

IDBI Federal Life Insurance Co Ltd is a joint-venture of IDBI Bank, India’s premier
development and commercial bank, Federal Bank, one of India’s leading private sector banks
and Ageas, a multinational insurance giant based out of Europe. In this venture, IDBI Bank owns
48% equity while Federal Bank and Ageas own 26% equity each. At IDBI Federal, we endeavor
to deliver products that provide value and convenience to the customer. Through a continuous
process of innovation in product and service delivery we intend to deliver world-class wealth
management, protection and retirement solutions to Indian customers. Having started in March
2008, in just five months of inception we became one of the fastest growing new insurance
companies to garner Rs 100 Cr in premiums. The company offers its services through a vast
nationwide network across the branches of IDBI Bank and Federal Bank in addition to a sizeable
network of advisors and partners. As on November 30th 2010, the company has issued over lakh
2.52 lakh policies with over Rs 12,886 Cr in Sum Assured. 
About the sponsors of IDBI Federal Life Insurance Co Ltd
IDBI Bank Ltd. continues to be, since its inception, India’s premier industrial development
bank. Created in 1956 to support India’s industrial backbone, IDBI Bank has since evolved into a
powerhouse of industrial and retail finance. Today, it is amongst India’s foremost commercial
banks, with a wide range of innovative products and services, serving retail and corporate
customers in all corners of the country from 758 branches and 1295 ATMs. The Bank offers its
customers an extensive range of diversified services including project financing, term lending,
working capital facilities, lease finance, venture capital, loan syndication, corporate advisory
services and legal and technical advisory services to its corporate clients as well as mortgages
and personal loans to its retail clients. As part of its development activities, IDBI Bank has been
instrumental in sponsoring the development of key institutions involved in India’s financial
sector –National Stock Exchange of India Limited (NSE) and National Securities Depository
Ltd, SHCIL (Stock Holding Corporation of India Ltd), CARE (Credit Analysis and Research
Ltd)
Please visit www.idbibank.com to know more.
Federal Bank is one of India’s leading private sector banks, with a dominant presence in the
state of Kerala. It has a strong network of over 736 branches and 772 ATMs spread across India.
The bank provides over four million retail customers with a wide variety of financial products.
Federal Bank is one of the first large Indian banks to have an entirely automated and
interconnected branch network. In addition to interconnected branches and ATMs, the Bank has
a wide range of services like Internet Banking, Mobile Banking, Tele Banking, Any Where
Banking, debit cards, online bill payment and call centre facilities to offer round the clock
 banking convenience to its customers. The Bank has been a pioneer in providing innovative
technological solutions to its customers and the Bank has won several awards and
recommendations. 
Please visit www.federalbank.co.in to know more.
Ageas is an international insurance company with a heritage spanning more than 180 years.
Ranked among the top 20 insurance companies in Europe, Ageas has chosen to concentrate its
business activities in Europe and Asia, which together make up the largest share of the global
insurance market. They are grouped around four segments: Belgium, United Kingdom,
Continental Europe and Asia. It is an undisputed leader in the Belgian market for individual life
and employee benefits, as well as a leading non-life player, through AG Insurance.
Internationally Ageas has a strong presence in the UK, where it is the third largest player in
private car insurance. The company also has subsidiaries in France, Germany, Ukraine and Hong
Kong. Ageas has a track record in developing partnerships with strong financial institutions and
key distributors in different markets around the world and successfully operates partnerships in
Luxembourg, Italy, Portugal, China, Malaysia, India and Thailand. Ageas employs more than
11,000 people and has annual inflows of almost EUR 16 billion.
Please visit www.ageas.com to know more.

Vision and Values

Maintaining integrity through our values

Our Vision
To be the leading provider of wealth management, protection and retirement solutions that meets
the needs of our customers and adds value to their lives.
 
Our Mission
To continually strive to enhance customer experience through innovative product offerings,
dedicated relationship management and superior service delivery while striving to interact with
our customers in the most convenient and cost effective manner.
To be transparent in the way we deal with our customers and to act with integrity.
To invest in and build quality human capital in order to achieve our mission.
 
Our Values
 
 Transparency: Crystal Clear communication to our partners and stakeholders
 Value to Customers: A product and service offering in which customers perceive value
 Rock Solid and Delivery on Promise: This translates into being financially strong,
operationally robust and  having clarity in claims
   Customer-friendly: Advice and support in working with customers and partners
 Profit to Stakeholders: Balance the interests of customers, partners, employees,
shareholders and the community at large

The Industrial Development Bank of India Limited (IDBI) (BSE: 500116) is one ofIndia's

leading public sector banks and 4th largest Bank in overall ratings. RBI categorised IDBI as an
"other public sector bank". It was established in 1964 by an Act of Parliament to provide credit
and other facilities for the development of the fledgling Indian industry.[1] It is currently 10th
largest development bank in the world in terms of reach with 1300 ATMs, 758 branches and 513
centers.[2] Some of the institutions built by IDBI are the National Stock Exchange of India (NSE),
the National Securities Depository Services Ltd (NSDL), the Stock Holding Corporation of
India (SHCIL), the Credit Analysis & Research Ltd, the Export-Import Bank of India(Exim
Bank), the Small Industries Development Bank of India(SIDBI), theEntrepreneurship
Development Institute of India, and IDBI BANK, which today is owned by the Indian
Government, though for a brief period it was a private scheduled bank.

Industrial Development Bank of India (IDBI)

The Industrial Development Bank of India (IDBI) was established on 1 July 1964 under an Act
of Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 16 February 1976,
the ownership of IDBI was transferred to the Government of India and it was made the principal
financial institution for coordinating the activities of institutions engaged in financing, promoting
and developing industry in the country. Although Government shareholding in the Bank came
down below 100% following IDBI’s public issue in July 1995, the former continues to be the
major shareholder (current shareholding: 52.3%). During the four decades of its existence, IDBI
has been instrumental not only in establishing a well-developed, diversified and efficient
industrial and institutional structure but also adding a qualitative dimension to the process of
industrial development in the country. IDBI has played a pioneering role in fulfilling its mission
of promoting industrial growth through financing of medium and long-term projects, in
consonance with national plans and priorities. Over the years, IDBI has enlarged its basket of
products and services, covering almost the entire spectrum of industrial activities, including
manufacturing and services. IDBI provides financial assistance, both in rupee and foreign
currencies, for green-field projects as also for expansion, modernisation and diversification
purposes. In the wake of financial sector reforms unveiled by the government since 1992, IDBI
evolved an array of fund and fee-based services with a view to providing an integrated solution
to meet the entire demand of financial and corporate advisory requirements of its clients. IDBI
also provides indirect financial assistance by way of refinancing of loans extended by State-level
financial institutions and banks and by way of rediscounting of bills of exchange arising out of
sale of indigenous machinery on deferred payment terms.

IDBI has played a pioneering role, particularly in the pre-reform era (1964–91),in catalyzing
broad based industrial development in the country in keeping with its Government-ordained
‘development banking’ charter. In pursuance of this mandate, IDBI’s activities transcended the
confines of pure long-term lending to industry and encompassed, among others, balanced
industrial growth through development of backward areas, modernisation of specific industries,
employment generation, entrepreneurship development along with support services for creating a
deep and vibrant domestic capital market, including development of apposite institutional
framework.

Narasimam committee[4] recommends that IDBI should give up its direct financing functions and
concentrate only in promotional and refinancing role. But this recommendation was rejected by
the government. Later RBI constituted a committee under the chairmanship of S.H.Khan to
examine the concept of development financing in the changed global challenges. This committee
is the first to recommend the concept of universal banking. The committee wanted the
development financial institution to diversify its activity. It recommended to harmonise the role
of development financing and banking activities by getting away from the conventional
distinction between commercial banking and developmental banking.

In September 2003, IDBI diversified its business domain further by acquiring the entire
shareholding of Tata Finance Limited in Tata Home finance Ltd., signaling IDBI’s foray into the
retail finance sector. The fully-owned housing finance subsidiary has since been renamed ‘IDBI
Home finance Limited’. In view of the signal changes in the operating environment, following
initiation of reforms since the early nineties, Government of India has decided to transform IDBI
into a commercial bank without eschewing its secular development finance obligations. The
migration to the new business model of commercial banking, with its gateway to low-cost
current, savings bank deposits, would help overcome most of the limitations of the current
business model of development finance while simultaneously enabling it to diversify its client/
asset base. Towards this end, the IDB (Transfer of Undertaking and Repeal) Act 2003 was
passed by Parliament in December 2003. The Act provides for repeal of IDBI Act,
corporatisation of IDBI (with majority Government holding; current share: 58.47%) and
transformation into a commercial bank. The provisions of the Act have come into force from 2
July 2004 in terms of a Government Notification to this effect. The Notification facilitated
formation, incorporation and registration of Industrial Development Bank of India Ltd. as a
company under theCompanies Act, 1956 and a deemed Banking Company under the Banking
Regulation Act 1949 and helped in obtaining requisite regulatory and statutory clearances,
including those from RBI. IDBI would commence banking business in accordance with the
provisions of the new Act in addition to the business being transacted under IDBI Act, 1964 from
1 October 2004, the ‘Appointed Date’ notified by the Central Government. IDBI has firmed up
the infrastructure, technology platform and reorientation of its human capital to achieve a smooth
transition.

IDBI Bank, with which the parent IDBI was merged, was a vibrant new generation Bank. The
Pvt Bank was the fastest growing banking company in India. The bank was pioneer in adapting
to policy of first mover in tier 2 cities. The Bank also had the least NPA and the highest
productivity per employee in the banking industry.

On 29 July 2004, the Board of Directors of IDBI and IDBI Bank accorded in principle approval
to the merger of IDBI Bank with the Industrial Development Bank of India Ltd. to be formed
incorporated under the Companies Act, 1956 pursuant to the IDB (Transfer of Undertaking and
Repeal) Act, 2003 (53 of 2003), subject to the approval of shareholders and other regulatory and
statutory approvals. A mutually gainful proposition with positive implications for all
stakeholders and clients, the merger process is expected to be completed during the current
financial year ending 31 March 2005.

The immediate fall out of the merger of IDBI and idbi bank was the exit of employees of idbi
bank. The cultures in the two organizations have taken its toll. The IDBI BANK now is in a
growing fold. With its retail banking arm expanding further after the merger of United western
Bank.

IDBI would continue to provide the extant products and services as part of its development
finance role even after its conversion into a banking company. In addition, the new entity would
also provide an array of wholesale and retail banking products, designed to suit the specific
needs cash flow requirements of corporates and individuals. In particular, IDBI would leverage
the strong corporate relationships built up over the years to offer customised and total financial
solutions for all corporate business needs, single-window appraisal for term loans and working
capital finance, strategic advisory and “hand-holding” support at the implementation phase of
projects, among others.

IDBI’s transformation into a commercial bank would provide a gateway to low-cost deposits like
Current and Savings Bank Deposits. This would have a positive impact on the Bank’s overall
cost of funds and facilitate lending at more competitive rates to its clients. The new entity would
offer various retail products, leveraging upon its existing relationship with retail investors under
its existing Suvidha Flexi-bond schemes. In the emerging scenario, the new IDBI hopes to
realize its mission of positioning itself as a one stop super-shop and most preferred brand for
providing total financial and banking solutions to corporates and individuals, capitalising on its
intimate knowledge of the Indian industry and client requirements and large retail base on the
liability side.

IDBI upholds the highest standards of corporate governance in its operations. The responsibility
for maintaining these high standards of governance lies with its Board of Directors. Two
Committees of the Board viz. the Executive Committee and the Audit Committee are adequately
empowered to monitor implementation of good corporate governance practices and making
necessary disclosures within the framework of legal provisions and banking conventions.
Industrial Investment Bank of India Ltd.

The industrial investment bank of India is one of oldest banks in India.[5] The Industrial
Reconstruction Corporation of India Ltd., set up in 1971 for rehabilitation of sick industrial
companies, was reconstituted as Industrial Reconstruction Bank of India in 1985 under the IRBI
Act, 1984. With a view to converting the institution into a full-fledged development financial
institution, IRBI was incorporated under the Companies Act, 1956, as Industrial Investment Bank
of India Ltd. (IIBI) in March 1997. IIBI offers a wide range of products and services, including
term loan assistance for project finance, short duration non-project asset-backed financing,
working capital/ other short-term loans to companies, equity subscription, asset credit, equipment
finance as also investments in capital market and money market instruments.

In view of certain structural and financial problems adversely impacting its long-term viability,
IIBI submitted a financial restructuring proposal to the Government of India on 25 July 2003.
IIBI has since received certain directives from the Government of India, which, inter alias,
include restricting fresh lending to existing clients approved cases rated corporates, restrictions
on fresh borrowings, an action plan to reduce the overhead expenditure, disposal of fixed assets
and a time-bound plan for asset recovery/reconstruction. The Government of India had also
given its approval for the merger of IIBI with IDBI and the latter had already started the due
diligence process.[6]

But on 17 December 2005 the IDBI rejected any such merger.[7]

Acquisition of United Western Bank

In 2006, IDBI Bank acquired United Western Bank in a rescue.[8] Annasaheb Chirmule, who

worked for the cause of Swadeshi movement, founded Satara Swadeshi Commercial Bank in
1907, and some three decades later founded United Western Bank. The bank was incorporated in
1936, and commenced operations the next year, with its head office in Satara,
in Maharashtra State. It became a Scheduled Bank in 1951. In 1956 it merged with Union Bank
of Kolhapur, and in 1961 with Satara Swadeshi Commercial Bank.[9] At the time of the
merger with IDBI, United Western had some 230 branches spread over 47 districts in 9 states,
controlled by five Zonal Offices at Mumbai,Pune, Kolhapur, Jalgaon and Nagpur.

Industrial Development Bank of India (IDBI)

The Industrial Development Bank of India (IDBI) was established on July 1, 1964 under an Act
of Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 16 February 1976,
the ownership of IDBI was transferred to the Government of India and it was made the
principal financial institution for coordinating the activities of institutions engaged in financing,
promoting and developing industry in the country. Although Government shareholding in the
Bank came down below 100% following IDBI’s public issue in July 1995, the former continues
to be the major shareholder (current shareholding: 52.3%). During the four decades of its
existence, IDBI has been instrumental not only in establishing a well-developed, diversified
and efficient industrial and institutional structure but also adding a qualitative dimension to the
process of industrial development in the country. IDBI has played a pioneering role in fulfilling
its mission of promoting industrial growth through financing of medium and long-term
projects, in consonance with national plans and priorities. Over the years, IDBI has enlarged its
basket of products and services, covering almost the entire spectrum of industrial activities,
including manufacturing and services. IDBI provides financial assistance, both in rupee and
foreign currencies, for green-field projects as also for expansion, modernisation and
diversification purposes. In the wake of financial sector reforms unveiled by the government
since 1992, IDBI evolved an array of fund and fee-based services with a view to providing an
integrated solution to meet the entire demand of financial and corporate advisory requirements
of its clients. IDBI also provides indirect financial assistance by way of refinancing of loans
extended by State-level financial institutions and banks and by way of rediscounting of bills of
exchange arising out of sale of indigenous machinery on deferred payment terms.
IDBI has played a pioneering role, particularly in the pre-reform era (1964-91),in catalyzing
broad based industrial development in the country in keeping with its Government-ordained
‘development banking’ charter. In pursuance of this mandate, IDBI’s activities transcended the
confines of pure long-term lending to industry and encompassed, among others, balanced
industrial growth through development of backward areas, modernisation of specific industries,
employment generation, entrepreneurship development along with support services for creating
a deep and vibrant domestic capital market, including development of apposite institutional
framework.
Narasimam committee recommends that IDBI should give up its direct financing functions and
concentrate only in promotional and refinancing role. But this recommendation was rejected by
the government. Latter RBI constituted a committee under the chairmanship of S.H.Khan to
examine the concept of development financing in the changed global challenges. This
committee is the first to recommend the concept of universal banking. The committee wanted
to the development financial institution to diversify its activity. It recommended to harmonise
the role of development financing and banking activities by getting away from the conventional
distinction between commercial banking and developmental banking.
In September 2003, IDBI diversified its business domain further by acquiring the entire
shareholding of Tata Finance Limited in Tata Home finance Ltd., signaling IDBI’s foray into
the retail finance sector. The fully-owned housing finance subsidiary has since been renamed
‘IDBI Home finance Limited’. In view of the signal changes in the operating environment,
following initiation of reforms since the early nineties, Government of India has decided to
transform IDBI into a commercial bank without eschewing its secular development finance
obligations. The migration to the new business model of commercial banking, with its gateway
to low-cost current, savings bank deposits, would help overcome most of the limitations of the
current business model of development finance while simultaneously enabling it to diversify its
client/ asset base. Towards this end, the IDB (Transfer of Undertaking and Repeal) Act 2003
was passed by Parliament in December 2003. The Act provides for repeal of IDBI Act,
corporatisation of IDBI (with majority Government holding; current share: 58.47%) and
transformation into a commercial bank. The provisions of the Act have come into force from
July 2, 2004 in terms of a Government Notification to this effect. The Notification facilitated
formation, incorporation and registration of Industrial Development Bank of India Ltd. as a
company under the Companies Act, 1956 and a deemed Banking Company under the Banking
Regulation Act 1949 and helped in obtaining requisite regulatory and statutory clearances,
including those from RBI. IDBI would commence banking business in accordance with the
provisions of the new Act in addition to the business being transacted under IDBI Act, 1964
from October 1, 2004, the ‘Appointed Date’ notified by the Central Government. IDBI has
firmed up the infrastructure, technology platform and reorientation of its human capital to
achieve a smooth transition.
IDBI Bank, with which the parent IDBI was merged, was a vibrant new generation Bank. The
Pvt Bank was the fastest growing banking company in India. The bank was pioneer in adapting
to policy of first mover in tier 2 cities. The Bank also had the least NPA and the highest
productivity per employee in the banking industry.
On July 29, 2004, the Board of Directors of IDBI and IDBI Bank accorded in principle
approval to the merger of IDBI Bank with the Industrial Development Bank of India Ltd. to be
formed incorporated under the Companies Act, 1956 pursuant to the IDB (Transfer of
Undertaking and Repeal) Act, 2003 (53 of 2003), subject to the approval of shareholders and
other regulatory and statutory approvals. A mutually gainful proposition with positive
implications for all stakeholders and clients, the merger process is expected to be completed
during the current financial year ending March 31, 2005.
The immediate fall out of the merger of IDBI and idbi bank was the exit of employees of idbi
bank. The cultures in the two organizations have taken its toll. The IDBI BANK now is in a
growing fold. With its retail banking arm expanding further after the merger of United western
Bank.
IDBI would continue to provide the extant products and services as part of its development
finance role even after its conversion into a banking company. In addition, the new entity
would also provide an array of wholesale and retail banking products, designed to suit the
specific needs cash flow requirements of corporates and individuals. In particular, IDBI would
leverage the strong corporate relationships built up over the years to offer customised and total
financial solutions for all corporate business needs, single-window appraisal for term loans and
working capital finance, strategic advisory and “hand-holding” support at the implementation
phase of projects, among others.
IDBI’s transformation into a commercial bank would provide a gateway to low-cost deposits
like Current and Savings Bank Deposits. This would have a positive impact on the Bank’s
overall cost of funds and facilitate lending at more competitive rates to its clients. The new
entity would offer various retail products, leveraging upon its existing relationship with retail
investors under its existing Suvidha Flexi-bond schemes. In the emerging scenario, the new
IDBI hopes to realize its mission of positioning itself as a one stop super-shop and most
preferred brand for providing total financial and banking solutions to corporates and
individuals, capitalising on its intimate knowledge of the Indian industry and client
requirements and large retail base on the liability side.
IDBI upholds the highest standards of corporate governance in its operations. The
responsibility for maintaining these high standards of governance lies with its Board of
Directors. Two Committees of the Board viz. the Executive Committee and the Audit
Committee are adequately empowered to monitor implementation of good corporate
governance practices and making necessary disclosures within the framework of legal
provisions and banking conventions.