Products Of IDFC Bank

IDFC First Bank: Overview

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What Is The Full Form Of IDFC?

IDFC stands for Infrastructural Development Finance Company. IDFC is a premier Indian financial institution that provides financial and advisory services to businesses in sectors of investment banking, infrastructure, and wealth management sectors....

History Of IDFC

The IDFC was set up as a company and not a proper bank in 1977 where it financed different infrastructural projects and other developmental processes in India. This led to a growth in the economic development of the country. Due to acts in continued succession, The Reserve Bank of India (RBI) in 2014 granted IDFC to set up itself as a private sector bank. This marked a significant step in the success of IDFC after which in the year 2017, IDFC became the first bank in India to launch the idea of linking Aadhar Cards and signify methods such as cashless merchant solutions....

Features And Functioning Of IDFC First Bank

Digital Banking : Being the first bank in India to launch a regime for cashless merchant solutions, IDFC First Bank offers a variety of options to perform transactions and credits. It has provided it with applications and websites to securely perform transfer of money, and check balance, take loans etc. It has a motive to transform the rural India into a digitally transformed India. Varied Financial Options : IDFC First Bank, and after the merge with Capital First provides a wide horizon of financial assets by going deep into provisions of financial solutions. This year, in 2023, IDFC launched a central bank digital currency under the RBI. It has diverse options for both rural and urban areas, thus providing an altogether different perspective of granting finance to even those people who could not afford it. Easy and Convenient Client Service : IDFC provides loans in max 3 steps : Documentation, Verification & Approval. This reduces the complexity in the process of providing loans and makes it accessible for every customer, even from rural areas to receive loans. It continues to transform its narratives and methods by introducing technological advancements in the process of providing loans and assets....

Products Of IDFC Bank

IDFC First Bank is a global bank which offers financial solutions through the regional branches, internet as well as phones and strives for setting a new standard user experience. It provides banking products and services like:...

Achievements Of IDFC Bank

IDFC First Bank has been the first one in the race of digital transformations. In 2017, it became the first bank in India to launch an Aadhar Card linked Cashless Merchant Solution. In 2023, very recently, IDFC First launched a Digital Currency under the governance of RBI, thus setting up a major achievement in the history of it’s own digital world. In 2020, IDFC launched its First Brand Ambassador, The star of the Industry Amitabh Bachchan. He gave a statement that how he was pleased to be a brand ambassador of the bank which has been transforming itself according to the new age services the youth needs. He termed the bank as a bank of values and great governance and transparency. Starting as a financial company in 1997, it now rose high in being a Global bank with a capital rate of 13.28% and is in the position to provide customer friendly interests on savings account, FD, NRI Loans, Home loans, Personal Loans, and provide credit cards and debit cards. Over the years, the bank has established itself as a recognised bank amidst the technological innovations that continue to take place. The bank has been performing exceptionally well and in recent times it’s Stock prices went up by around 34.1% and gave a return of 45% last year. The net Non Performing Asset (NPA) of the bank too showed an improvement as it declined by 0.02% to 0.7% for the 2023 quarter....

IDFC Full Form – FAQs

Is IDFC A Government Bank?...