IDFC First Bank


IDFC First Bank 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 FIRST received a universal banking licence from the Reserve Bank of India in July 2015. On 6 November 2015, IDFC Bank was listed on BSE and NSE.

Company information

In 2014, the Reserve Bank of India granted an in-principle approval to IDFC Limited to set up a new bank in the private sector. Following this, the IDFC Limited divested its infrastructure finance assets and liabilities to a new entity - IDFC Bank. The bank was launched through this demerger from IDFC Limited in November 2015.
IDFC Bank started operations in 19 October 2015. 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. IDFC bank has launched its 100th branch in Honnali, Karnataka in October 2017
In January 2018, Erstwhile IDFC Bank and Erstwhile Capital First announced a merger. Shareholders of Erstwhile Capital First were to be issued 13.9 shares of the merged entity for every 1 share of Erstwhile Capital First. Thus, IDFC FIRST Bank was founded as a new entity by the merger of Erstwhile IDFC Bank and Erstwhile Capital First on December 18 2018.

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 its largest loans into e-commerce includes a loan to Flipkart.
On 8 November 2017, IDFC Bank entered into a strategic partnership with digital payments solution company MobiKwik to launch a co-branded virtual Visa prepaid card for customers of MobiKwik.
On 11 March 2020, the bank announced that it has signed Mr. Amitabh Bachchan, as its first ever brand ambassador.