What is the Full Form of IDFC?
The full form of IDFC is the “Infrastructure Development Finance Company”. Incorporated in 1997, it provides financial assistance and advisory services primarily for investment banking, asset management, and infrastructure projects. Its headquarters are situated in Chennai with many subsidiaries, including IDFC Bank, IDFC Foundation, IDFC Pension Fund Management, and IDFC Securities.
Apart from knowing the full form of IDFC, here are some essential quick facts that you can keep in mind:
IDFC Quick Facts
- IDFC was established on the 30th of January 1997 and began operations later that year, on the 9th of June 1997.
- IDFC is traded both on the Bombay Stock Exchange and the National Stock Exchange of India. It was registered in 2005.
- BSE - 532659
- NSE -IDFC
- In 2014, the RBI granted approval for IDFC to set up a new bank in the private sector, namely the IDFC First Bank. They began operating in November 2015 as a result of the demerger from IDFC limited.
- In May 2008, the company acquired the asset management business of the Standard Chartered Bank. This company, called the Standard Chartered Asset Management Company Private Limited, was rebranded as IDFC Asset Management Company Private Limited and IDFC AMC Trustee Company Private Limited.
- In 2008-09 the company subscribed to 100% of the equity shares of IDFC Capital. Later, in the same year, the IDFC Foundation was established with an aim to focus on capacity building, policy advisory, and sustainability initiatives.
- IDFC Bank has over 23 branches across states.
- The business focus is on corporate and private customers in India, making use of specialized infrastructure.
- Amitabh Bachchan is the brand ambassador of IDFC Bank.
- IDFC First Bank has recently announced its entry into the credit card sector in 2021.
- IDFC bank has been instrumental in the success of the eCommerce giant Flipkart. Their largest loan to date is the ₹3 billion loan disbursed to Flipkart.
- IDFC is the first bank to introduce Aadhar linked cashless merchant solutions.
- IDFC First Bank partnered with the popular NBFC Fintech company MobiKwik to launch a Visa Prepaid card for its customers.
We hope this information was useful to you. Like the full form of IDFC, you can learn from others our articles. This would be extremely beneficial for a banking exam.
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