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The full form of IDFC is the Infrastructure Development Finance Company. It is a finance company founded in India under the Department of Financial Services, Government of India. It offers financial and advisory services for infrastructure projects, asset management, and investment banking. Read on to know more about IDFC.
History Behind IDFC
IDFC was founded on 30 January 1997 by the Government of India. IDFC got its registered office in Chennai and started operations on 9 June 1997. IDFC’s equity shares were listed at the National Stock Exchange of India and the Bombay Stock Exchange after an initial public offering IN 2005.
In 2014, the Reserve Bank of India gave IDFC Limited in-principle clearance o launch a new private-sector bank. Next year in October, IDFC started its operations.
Subsidiaries of IDFC
- DFC Project Equity
- IDFC First Bank
- IDFC Securities
- IDFC Pension Fund Management
- IDFC Foundation
Services of IDFC
IDCF offers numerous services across different regions across India. As the world is going all-digital, IDFC also provides financial services online through digital apps. Users can visit their official website or mobile application to access the following services.
- Savings accounts
- Fixed deposits
- NRI accounts
- Personal loans
- Home loans
Milestones of IDFC
| 2003 | IDFC raised $200 million for the India Development Fund, the first infrastructure-focused private equity fund |
| 2009 | IDFC signs UNGC Global Compact |
| 2013 | IDFC became the first Indian institution to adopt Equator principles |
| 2014 | IDFC received a banking license from RBI |
| 2017 | IDFC became the first bank in India to launch an Aadhaar-linked cashless merchant solution |
| 2018 | IDFC joined hands with Capital First to create IDFC First Bank |
| 2020 | IDFC made Amitabh Bachchan its first brand ambassador |
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