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IDFC First Bank Share Price Today
Identity Fund Corporation Limited (IDFC Limited) received in-principle clearance from the Reserve Bank of India in 2014 to establish a new private sector bank in Mumbai. The Limited then transferred its infrastructure financing assets and liabilities to a new company, IDFC Bank, due to this transaction. In November 2015, the Bank was established due to the demerger from IDFC.
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IDFC Bank was founded by the Indian Development Finance Corporation (IDFC) and the Indian Banks for Reconstruction and Development (IBRD). It began operations on October 19, 2015, with 23 branches spread across Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad, and Kolkata. From now till 2022, it will have more than 600 branches in India. Fifteen units are located in towns with fewer than 10,000 people each. Honnali, Karnataka, was the site of IDFC Bank’s 100th branch, which opened in October of that year.
The merger of IDFC Bank and Capital First, a non-banking financial organization, was announced in January 2018. On December 18, 2018, IDFC First Bank was established as a new corporation. It was planned to issue 13.9 shares of the newly formed corporation to Capital First stockholders for every one share of Capital First stock.
History of IDFC Bank
According to the Bank, the aadhaar-linked cashless merchant solution from Bank is the first of its kind in India. Private and corporate clients of the Bank are served, emphasizing the infrastructure industry, which IDFC has specialized on since its inception. The Bank also targets people living in rural regions and self-employed people.
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Its most outstanding loan into e-commerce was Rs. 3 billion (US$39 million) loan to Flipkart, which was one of its most significant loans overall in the sector. An agreement between Bank and digital payments solution provider MobiKwik was signed on November 8, 2017, resulting in creation of a co-branded virtual Visa prepaid card for MobiKwik users.
On March 11, 2020, the Bank announced that Amitabh Bachchan had been named its first brand ambassador. It has stated that it will enter the credit card business in 2022, offering low-interest rates and interest-free credit for a limited period.
IDFC Bank Information and Facts
A banking organization with its headquarters in India, IDFC FIRST Bank Limited is one of the largest in the world. Treasury, Corporate/Wholesale Banking, and Retail Banking are the company’s three business sectors, respectively. The Treasury division principally comprises the Bank’s investment portfolio, money market borrowing, lending, investment activities, and the Bank’s complete foreign currency and derivatives portfolio and operations.
It is the responsibility of the Corporate/Wholesale Banking sector to supply corporate relationships with loans, non-fund facilities, and transaction services that are not covered by the Retail Banking and syndicate segments.
In the Retail Banking sector, lending to people and business banking clients is conducted via the branch network and other delivery methods, depending on the customer’s orientation, product type, the granularity of exposure, and the dollar amount of the loan. More than 677 automated teller machines are available at the company’s roughly 596 branch locations (ATMs).
Frequently Asked Questions
What is the IDFC First Bank stock price/share price today?
The IDFC First Bank stock price today is 41.700 INR.
Will IDFC First Bank stock price grow / rise / go up?
It is true. Over one year, the Bank Ltd stock price could increase from 41.700 INR to 46.300 INR.
Is it profitable to invest in IDFC First Bank stock?
Yes. One year’s earnings are expected to be 110.3 percent.
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