IDFC Bank Full Form

What is Full Form of IDFC ?

IDFC is the common abbreviation used for the Infrastructure Development Finance Company. IDFC is an Indian finance body that provides financial assistance and advisory services to investment banking, asset management, and infrastructure organisations. IDFC Limited was established in 1997 to finance infrastructure, primarily focusing on project finances and capital mobilisation for private sector infrastructure development.

History of IDFC

• IDFC Limited was given in-principle approval by the Reserve Bank of India to establish a new private-sector bank in 2014.

• IDFC Limited divested all its assets and debts in the infrastructure sector to the new body, IDFC Bank.

• The IDFC Bank was thus founded in November 2015 through the process of demerger of IDFC Limited, specifically their infrastructure and lending businesses.

• On December 18, 2018, Erstwhile IDFC Bank and Erstwhile Capital First merged to form IDFC FIRST Bank as a new entity.

Products Of IDFC Bank

IDFC FIRST BANK is a global bank that offers financial solutions through its regional branches, the 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:

1. Savings accounts

2. Fixed deposits

3. NRI accounts

4. Personal loans

5. Home loans, etc.