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IDFC First Bank (stylised as IDFC FIRST Bank) is an Indian private sector bank based in Mumbai. Founded in 2015 as a banking subsidiary of IDFC Limited , it shifted focus from infrastructure financing to retail banking in the years after its 2018 merger with Capital First . [ 6 ]
In 2008–09, the company acquired 100% of the share capital of IDFC Capital (Singapore) Pvt Ltd. In the same year, the company established IDFC Foundation to focus on capacity building, policy advisory and sustainability initiatives. [9] IDFC Bank started operating banking services on 1 October 2015. [10]
The latest version 2.0 can also be used to buy fuel. IDFC First Bank has become the first one to get an approval from the RBI. [28] The Ministry of Road Transport and Highways (MoRTH) has declared that all lanes at all toll plazas on national highways across the country will be dedicated Fastag lanes from 1 December 2019. [29]
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Welspun Enterprises completed its first project, the Delhi-Meerut Expressway (Package I), in 2018, the first 14-lane expressway in India. [ 14 ] [ 15 ] In 2022, the company announced that the National Highways Authority of India (NHAI) issued a Provisional Certificate for Commercial Operation (PCOD) for 53.763 km (77.96%) of the total project ...
The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) systems.
On 13 January 2018, IDFC Bank and Capital First announced a merger. IDFC Bank issued 139 shares for every 10 shares of Capital First, and Vaidyanathan took over as the MD and CEO of the combined bank. [21] [22] Effectively Vaidyanathan successfully secured a banking license for Capital First through the merger and assumed control of the bank's ...
Immediate Payment Service is managed by the National Payments Corporation of India (NPCI) and is built upon the existing National Financial Switch network. In 2010, the NPCI initially carried out a pilot for the mobile payment system with 4 member banks (State Bank of India, Bank of India, Union Bank of India and ICICI Bank), and expanded it to include Yes Bank, Axis Bank and HDFC Bank later ...