IDFC Bank

IDFC Bank
Public Company
Traded as
Industry Banking, Financial services
Founded October, 2015
Headquarters Mumbai, Maharashtra, India
Key people
 Dr. Rajiv B. Lall (Managing Director & CEO)
Products Retail banking, Commercial & Wholesale Banking, Business Banking, Bharat Banking
Number of employees
 1221 (October 2015)
Website www.idfcbank.com
Prime Minister Narendra Modi inaugurates IDFC Bank on 28 October 2015.

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.[1] IDFC received a universal banking licence from the Reserve Bank of India (RBI) in July 2015.[2] On 6th November, 2015, IDFC Bank was listed on BSE and NSE.[3]

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. [4]

Prime Minister Narendra Modi formally launched IDFC Bank on 19 October 2015. [5][6]

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.[7][8]

References

  1. ↑ Sinha, Shilpy (29 September 2015). "IDFC banks on psychometric tests for senior level hirings". Economic Times. Retrieved 30 September 2015.
  2. ↑ http://www.business-standard.com/article/companies/idfc-bank-to-start-operations-from-oct-1-115072400934_1.html
  3. ↑ http://www.moneycontrol.com/news/buzzing-stocks/de-merger-listing-idfc-bank-debuts-at-rs-7050nse_4018661.html
  4. ↑ http://www.moneycontrol.com/news/business/idfc-bk-to-start-opsfew-branches-by-oct-1-rajiv-lall_1353937.html
  5. ↑ http://www.livemint.com/Industry/j297AiEAvv8KzEEC8htTdI/Narendra-Modi-inaugurates-IDFC-Bank-talks-of-banking-reform.html
  6. ↑ http://www.business-standard.com/article/government-press-release/pm-inaugurates-idfc-bank-115101901137_1.html
  7. ↑ http://www.business-standard.com/article/finance/7-things-to-know-about-idfc-bank-115100100509_1.html
  8. ↑ http://www.livemint.com/Industry/jiRoniiEnM79Djr99T6o9N/I-am-happy-to-overinvest-in-technology-IDFCs-Rajiv-Lall.html

External links

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