What is the full form of IDFC?
The full form of IDFC is the Infrastructure Development Finance Company. IDFC is an Indian finance agency that offers financial and advisory services for organisations in investment banking, infrastructure and asset management. IDFC was set up in 1997.
A brief history of IDFC
- In 2014, IDFC Limited was granted in-principle approval by RBI to establish a new private-sector bank.
- IDFC Limited divested its assets and debts in infrastructure to the new entity – IDFC Bank.
- The IDFC Bank was created in November 2015 through the demerger of IDFC Limited, specifically their infrastructure and lending business demerger.
- On 18 December 2018, Erstwhile IDFC Bank and Erstwhile Capital First merged to form IDFC FIRST Bank as a new entity.
Products of IDFC bank
Currently, IDFC FIRST BANK is a global bank that offers financial solutions through its regional branches, internet and phones, and strives to set a new standard in user experience. It uses advanced technology and promotes a service-oriented approach to developing convenient and open banking at all times and everywhere. In India, it provides banking products and services such as:
- Savings accounts
- Fixed deposits
- NRI accounts
- Personal loans
- Home loans, etc.
