when the bank's charter expired in 1836 it was a key factor in the resulting
Bank War The Bank War refers to the political struggle that developed over the issue of rechartering the Second Bank of the United States (BUS) during the presidency of Andrew Jackson (1829â€“1837). The affair resulted in the destruction of the bank and its replacement by various state banks.
IDBI Bank The Industrial Development Bank of India (IDBI) was established in 1964 under an Act of Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 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 India. IDBI provided 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 also provided 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.[citation needed]