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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 February 2022, Vaidyanathan gifted shares worth ₹ 4 crore (US$470,000) to five of IDFC First's employees, including help and a driver. In May 2021, he gave away 4.3 lakh shares, worth over ₹ 2.4 crore (US$280,000) to three persons from IDFC First Bank to help them buy a house. [35]
Your net worth represents how much wealth you have, measured by assets like a house, cars, 401(k), jewelry or cash in the bank, minus the debt obligations you have, or what you owe.
Net Worth = Assets - Liabilities. For example, if your total assets equal $600,000 and your total liabilities equal $400,000, your net worth is $200,000.
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] On 1 October 2024, IDFC Limited merged with the bank, with shareholders receiving 155 bank shares for every 100 IDFC Limited shares. [11]
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
Capital First Ltd. was an Indian non-bank financial institution providing debt financing to small entrepreneurs, MSMEs and consumers. In December 2018, it was merged into IDFC Bank to form IDFC First Bank. The company was listed on the NSE and BSE prior to the merger. [6] [7] [8]
You have an individual with a $10 million net worth and under $200,000 in annual expenses, making this one of the more straightforward recommendations I feel comfortable providing. Let's assume ...