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| File:New logo of IDFC Bank.png | |
| Company type | Private Company |
|---|---|
| Traded as | |
| Industry | Banking, Financial services |
| Founded | October, 2015 |
| Headquarters | Mumbai, Maharashtra, India |
| Key people | Dr. Rajiv B. Lall (Managing Director & CEO) Veena Mankar (Non-Executive Chairperson (Independent Director)) |
| Products | Retail banking, Commercial & Wholesale Banking, Business Banking, Bharat Banking |
| Website | www |
IDFC Bank Ltd. is an Indian banking company with headquarters in Mumbai that forms part of IDFC, an integrated infrastructure finance company. The bank started operations on 1 October 2015. IDFC received a universal banking licence from the Reserve Bank of India (RBI) in July 2015. On 6th November, 2015, IDFC Bank was listed on BSE and NSE.
Company Information
IDFC was incorporated on 30 January 1997 with its registered office in Chennai and started operations on 9 June 1997. In 1998 the company registered with the Reserve Bank of India (RBI) as a non-banking financial company and in 1999 it formally became a Public Financial Institution.
To conform with RBI guidelines IDFC founded a non-operative financial holding company (NOFHC) in 2014 to manage its five subsidiaries IDFC Bank, IDFC MF, IDFC Alternatives, IDFC IDF & IDFC Securities. IDFC is the holding company for NOFHC IDFC Projects Ltd and IDFC Foundation.
IDFC Bank started operations with 23 branches in Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and Kolkata. 15 branches are in settlements with a population of less than 10,000.
Prime Minister Narendra Modi formally inaugurated IDFC Bank on 19 October 2015.
Business Focus
The bank serves corporate and private customers in India including the infrastructure sector that IDFC specialized in from its founding in 1997. The bank also aims to provide services to people in rural areas and to the self-employed.
The bank IDFC Bank is the first in India to launch aadhaar-linked cashless merchant solution.
One of it's largest loans into e-commerce includes a 300 crore rupees one to Flipkart.
References
- Sinha, Shilpy (29 September 2015). "IDFC banks on psychometric tests for senior level hirings". Economic Times. Retrieved 30 September 2015.
- "IDFC Bank to start operations from Oct 1 | Business Standard News". Business-standard.com. 25 July 2015. Retrieved 15 October 2016.
- "De-merger listing: IDFC Bank debuts at Rs 72 on NSE". Moneycontrol.com. 8 November 2015. Retrieved 15 October 2016.
- "IDFC Bk to start ops with few branches by Oct 1: Rajiv Lall". Moneycontrol.com. 12 April 2015. Retrieved 15 October 2016.
- "Narendra Modi inaugurates IDFC Bank, talks of banking reforms". Livemint. Retrieved 15 October 2016.
- "PM inaugurates IDFC Bank | Business Standard News". Business-standard.com. 19 October 2015. Retrieved 15 October 2016.
- "7 things to know about IDFC Bank | Business Standard News". Business-standard.com. 1 October 2015. Retrieved 15 October 2016.
- "I am happy to over-invest in technology: IDFC's Rajiv Lall". Livemint. 1 July 2015. Retrieved 15 October 2016.
- "IDFC Bank launches aadhaar-linked cashless merchant solution - The Economic Times". The Economic Times. Retrieved 17 January 2017.
- "IDFC Bank gives Rs 300 crore loan to Flipkart - Times of India". The Times of India. Retrieved 17 January 2017.