Discussion
Which one among the following has not started commercial banking ?
Answer: A
Correct answer: SIDBI
SIDBI, the Small Industries Development Bank of India, has not become a commercial bank. It remains a development financial institution, refinancing and lending to the micro, small and medium enterprise sector rather than accepting demand deposits or running a branch network for the public.
The other three all converted. ICICI Ltd merged into ICICI Bank in 2002, IDBI became IDBI Bank, and UTI's banking arm became UTI Bank, later renamed Axis Bank. Those conversions reflected a general shift away from the development finance model after liberalisation.
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