IDA meaning in Banking ?

Answer:

What is Individual Development Accounts mean?

An individual development account (IDA) is an asset building tool designed to enable low-income families to save towards a targeted amount usually used for building assets in the form of home ownership, post-secondary education and small business ownership. In principle IDAs work as matched savings accounts that supplement the savings of low-income households with matching funds drawn from a variety of private and public sources. h

While anti-poverty policy makers have traditionally focused on issues of income and consumption, an expanded vision of poverty alleviation has emerged in recent years—one that encourages savings, investment, and asset accumulation in conjunction with, not instead of, traditional anti-poverty programs. Assets play a vital role in poverty alleviation by providing not only economic security but also a psychological orientation that encourages low income families to save and plan for the future. In his book, Assets and the Poor: A New American Welfare Policy (1991), Michael Sherraden proposed establishing individual savings accounts for the poor calling for the government and the private sector to match individual contributions to IDAs as a means of encouraging savings and breaking the cycle of poverty. Sherraden argued that asset and saving accumulation requires institutional structures and incentives and that asset based development policies can have psychological, social and economic impacts. Since then IDAs have been adopted by United States federal legislation via the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 and in more than 40 states of the country. Evidence of IDA programs also exists outside of the continental United States especially in Hawaii, Sub-Saharan Africa., the UK, and also all around Europe.

reference

Full Form	Category
Society of Danish Engineers	Academic & Science
Ingeniørforeningen i Danmark	Academic & Science
Institute for Digital Archaeology	Academic & Science
Interactive Degree Audit	Academic & Science
Idaho Falls (id)	Airport Code
Individual Development Accounts	Banking
Infrastructure Development Authority	Bihar Government
Insurance Designers of America	Business
IdaCorp, Inc.	Business
Industrial Development Agency	Business
Idyll Dandy Acres	Business
International Door Association	Business
Identifying Dispensing Accounting	Business
I'll Do Anything	Business
Idyll Dandy Artists	Business
Investment Dealers Association	Business
Industrial Development Area	Business
Internacional de Documentación Audiovisual	Business
Idatech, PLC.	Business
Irish Development Authority	Community
Invisible Disabilities Association	Community
International Dhamma Activities	Community
International Downtown Association	Community
International Desalination Association	Community
International Doors Association	Community
International Documentary Association	Community
International Digital Artist	Community
Individual Development Account—	Community
Indian Development Agency	Community
International Development Agency	Community
Independent Distributors Association	Community
Industrial Diamond Association	Community
Islamic Democratic Association	Community
Innovation Development Agency	Community
International Day of Action	Community
Invisible Disabilities Advocate	Community
In Defense of Animals	Community
International Dyslexia Association	Community
International Dark-Sky Association	Community
Improvised Duet Acting	Community
Interactional Disorders Association	Community
Interactive Dis-assembler	Computer Assembly Language
Instruction Data Address	Computer Assembly Language
Intelligent Drive Array	Computer Hardware
Integrated Digital Access	Computing
Interchange Data Between Administrations	Computing
Intelligent Disk Array	Computing
Internet Data Analysis	Computing
Indirect Data Addressing	Computing
Infocomm Development Authority	Computing
In Database Archiving	Computing
Information Delivery Architecture	Computing
Internet Download Accelerator	Computing
Information Dense Antenna	Electronics
Intelligent Digital Avatars	General
Innovative Device Assessment	General
Intelligent Driver Assistance	General
Ice Driving Academy	General
Independent Drivers Association	General
Impaired Driving Assessment	General
Industrija Delova Automobila	General
Intelligent Driver Alertness	General
International Drivers Academy	General
International Driver's Association	General
International Driving Authority	General
Integrated Drive Axle	General
Intelligent Data Analysis	General
Interior Design Associates	General
Independent Dealers Advantage	General
Image Data Archive	General
Intergalactic Direction Assistant	General
Intelligent Data Analytics	General
I Don't Administer	General
Ideal Drag Application	General
Integrated Disability Action	Governmental
Institute for Dronal Anarchy	Governmental
Institute for Defense Analyses	Governmental
Instituto de Desarrollo Agrario	International
International Disaster Assistance	International
International Detailing Association	International
International Dispensary Association	International
International Design Awards	International
Interactive Decision Assistant	Jobs
Implicit Differential Algebraic	Maths
Indian Dental Association	Medical
International Disability Alliance	Medical
Indiana Dental Association	Medical
Improvement Development Agency	Medical
Iron Deficiency Anaemia	Medical
Iron Deficiency Anemia	Medical
Institute for Defense Analysis	Military and Defence
Immediate Decision Act	Military and Defence
Installation Design Authority	Networking
Interface for Distributed Automation	Networking
Fanning Field, Idaho Falls, Idaho USA	Regional
Irrigation Development Authority	Regional
Irish Dental Association	Regional
Interface Display Assembly	Space Science
Intercollegiate Dressage Association	Sports
Investment and Development Agency	Stock Exchange