What is the full form of IDFC?
The Infrastructure Development Finance Company is the full form of IDFC. Incorporated in 1997, IDFC provides finance and advisory services for infrastructure projects, asset management and investment banking. IDFC is headquartered in Chennai and has many subsidiaries viz. IDFC Project Equity, IDFC Bank, IDFC Securities, IDFC Pension Fund Management and IDFC Foundation.
History of IDFC
- IDFC was incorporated on 30 January 1997 and started operations on 9 June 1997.
- Its equity shares were registered at the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) in 2005.
- In 2008-09 IDFC Limited subscribed 100% of equity shares of IDFC Capital (Singapore) Pvt. Ltd.
- IDFC Bank started banking operations on 19 October 2015.
About IDFC First Bank
Formerly known as IDFC Bank, IDFC First Bank is an Indian banking company and a subsidiary of IDFC Limited. IDFC First Bank received a universal banking license from the Reserve Bank of India in July 2015 and the bank started banking services in October 2015. The bank is headquartered in Mumbai, Maharashtra (India) and extends a wide range of banking and financial services to its customers in India. IDFC Bank is the first bank in India to launch Aadhaar-linked cashless merchant solution.
Key products offered by IDFC First Bank
- Home loans, personal loans, vehicle loans, loans against property and consumer durable loans
- Consumer banking products
- Business loans, micro enterprises loans
- Credit cards, debit cards
- Savings accounts
- Fixed deposits
- NRI banking
- Private banking
- Wealth management
- Investment banking
- Corporate banking
- Wholesale banking
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