Industrial Development Bank of India Ltd (IDBI) has informed BSE that Reserve Bank of India has vide their letter dated September 12, 2006 advised the Bank that it is proposed to amalgamate the United Western Bank Ltd. with the Bank and accordingly, RBI has forwarded a draft scheme of amalgamation prepared by them in pursuance of sub section (4)(d)(ii) of Section 45 of the Banking Regulation Act, 1949. RBI has desired the Bank to submit its suggestions/objections, if any, to the draft scheme of amalgamation to RBI so as to reach them by the close of business hours on September 27, 2006. Further the Bank has informed that, in the above connection a meeting of the Board of Directors of the Bank will be held on September 21, 2006 to consider the draft scheme of amalgamation and convey its views to RBI. Industrial Development Bank of India Ltd (IDBI) has informed BSE that the Government of India has sanctioned the Scheme of Amalgamation of The United Western Bank Ltd (UWB) with the Bank (the Scheme) and specified October 03, 2006 as the prescribed date i.e. the date on which the Scheme will come into force. In terms of sub-paragraph [5] of Paragraph 6 of the Scheme, the Bank shall make an upfront payment in cash of Rs 28/- in respect of every fully paid up share in the United Western Bank Ltd to the members of that Bank, who were, as on the prescribed date, registered as Shareholders of the United Western Bank Ltd. It is proposed to make the payment to all the Shareholders after ascertaining their entitlement at earliest in order to facilitate determination of shareholders of the United Western Bank Ltd entitled to receive the payment. (As per BSE Announcement website dated on 03/10/2006) Industrial Development Bank of India Ltd (IDBI) has announced the following unaudited Results for the quarter ended June 30, 2007 The erstwhile United Western Bank Ltd (UWB) was amalgamated with the Bank with effect from October 03, 2006. The results for the quarter ended June 2007 and for the year ended March 2007 include the operations of UWB and hence are not comparable with the results for the quarter ended June 2006. (As Per BSE Announcement Website Dated on 18/07/2007)