About IDFC, Full Form, History, CEO, Headquarters, Services
IDFC bank’s full form is Infrastructure Development Finance Company.
Full Form of IDFC First Bank in Hindi (हिंदी)-
इंफ्रास्ट्रक्चर डेवलपमेंट फाइनेंस कंपनी
About IDFC First Bank
IDFC (Infrastructure Development Finance Company) is an Indian finance company. It offers financial and advisory services for investment banking, asset management, and infrastructure projects.
In April 2014, the Reserve Bank of India (RBI) gave approval to two organizations among 25 banking candidates. IDFC, the non-banking finance company was one of the companies to obtain the authorization.
On 23 July 2015, the IDFC got its banking license from the RBI.
Headquarters of IDFC First Bank
Mumbai, Maharashtra, India
CEO of IDFC First Bank
V. Vaidyanathan
He became CEO of IDFC First Bank on 19 December 2018. He is also the MD ( Managing Director) of IDFC First bank.
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| V. Vaidyanathan |
History of IDFC First Bank
• In 2014, IDFC Limited was granted approval by RBI to establish a new private industry bank.
• Regarding this, IDFC Limited recused its assets and debts in infrastructure finance to a new startup-IDFC Bank.
• Through this IDFC Limited demerger in November 2015, the Bank was introduced.
• IDFC Bank commenced operations on 19 October 2015.
• IDFC First Bank has 23 branches based in Mumbai, Delhi, MP, Ahmedabad, Hyderabad, Kolkata Chennai, Pune & Bangalore.
• It also has fifteen branches situated in communities with a population of under 10,000.
• In October 2017, IDFC opened its 100th branch in Honnali, Karnataka.
• In January 2018, IDFC Bank and Erstwhile Capital First declared a partnership. On 18 December 2018, a new entity IDFC First Bank was formed by the combination of IDFC Bank and Erstwhile Capital First.
Products and Services by IDFC First Bank
In India, IDFC First Bank provides banking products and services such as
• Savings accounts
• Personal loans
• NRI accounts
• Home loans,
• Fixed deposits, etc.
•Currently, the Mumbai-based IDFC FIRST BANK is a global bank. It offers financial solutions through its regional branches, phone, and internet, and strives to set a new standard in user experience.
•It promotes a service-oriented approach by using advanced technology to develop convenient and open banking at all times and from everywhere.
Official Website of IDFC First Bank
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