IDFC First Bank

IDFC FIRST Bank
Company typePrivate sector bank
BSE: 539437
NSE: IDFCFIRSTB
ISININE092T01019
IndustryBanking
Financial services
PredecessorIDFC Bank
Capital First Ltd.
FoundedOctober 2015; 9 years ago (2015-10)
HeadquartersMumbai, Maharashtra, India
Key people
V. Vaidyanathan (MD & CEO)
Products
RevenueIncrease ₹36,257 crore (US$4.3 billion) (2024)[1]
Increase ₹6,239 crore (US$750 million) (2024)[1]
Increase ₹2,942 crore (US$350 million) (2024)[1]
Total assetsIncrease ₹296,210 crore (US$35 billion) (2024)[2]
Total equityIncrease ₹25,145 crore (US$3.0 billion) (2024)[2]
Number of employees
20,222 (March 2020)
ParentInfrastructure Development Finance Company
Subsidiaries
Capital ratio13.28% [1]
Rating
Websitewww.idfcfirstbank.com

IDFC First Bank (stylised as IDFC FIRST Bank) is an Indian private sector bank formed by the merger of the banking arm of Infrastructure Development Finance Company and Capital First, which was an Indian non-bank financial institution.[10]

IDFC First Bank got privatized on 1st October 2024 by reverse merger with parent IDFC Ltd, a Government of India entity.[11]

History

[edit]

IDFC Limited was set up in 1997 by Government of India to finance infrastructure projects in India. With time, the company diversified into asset management, institutional broking and investment banking. In 2014, the Reserve Bank of India granted in-principle approval to IDFC Limited to set up a new bank in the private sector. Following this, the IDFC Limited divested its infrastructure finance assets and liabilities to a new entity - IDFC Bank. The bank was launched through this demerger from IDFC Limited, and it was officially inaugurated by the Prime Minister of India Narendra Modi in October 2015.[12][13]

IDFC Bank started operations on 1 October 2015.[14][15]

In January 2018, IDFC Bank and non-banking financial company Capital First announced a merger, , resulting in a combined loan asset book of Rs 1.03 trillion under the newly formed IDFC First Bank.[16] Capital First was founded in 2012 by V. Vaidyanathan who acquired a stake in Future Capital Holdings and secured equity backing of Rs. 8.10 billion from Warburg Pincus.[17][18] As per the September 2017 stock filing, Capital First had a retail loan portfolio of Rs 229.7 billion, serving three million customers across 228 locations. In the same quarter, the company reported a gross NPA ratio of 1.63% and a net NPA ratio of 1%.[19] In 2018, Capital First obtained an upgraded long-term credit rating of AAA. It was an Indian non-bank financial institution providing debt financing to small and medium-sized enterprises.[20]

Merger

[edit]

Post the merger, Vaidyanathan took over as the MD and CEO of the merged entity. The Reserve Bank of India approved his appointment for a period of three years, effective from December 19, 2018.[21] 13.9 shares of IDFC Bank were issued for every share of Capital First as part of the merger scheme.[22][23]

IDFC Bank had faced challenges due to bad loans from legacy infrastructure accounts. Its stock once traded 4.3% lower than its listing price, partly due to the breakup of the planned merger with the Shriram Group. While the bank has made efforts to improve its assets, it has not provided clear guidance on its liabilities. By September 2017, bank's deposits was totaled Rs 38,890 crore, with only 8.2% in current and savings accounts.[24]

As of 3 July 2023, the board of the bank had approved the merger with IDFC Limited. Shareholders of the latter will receive 155 shares of IDFC FIRST Bank for every 100 shares they currently own in IDFC Limited, as stated in a filing with the stock exchange.[25][26] In the mid of October 2023, the bank obtained clearance from the Competition Commission of India for its merger.[27][28] On 18 December 2023, the RBI issued 'no objection' for the bank to merge with IDFC. But the merger still needs approval from the National Company Law Tribunal.[29][30]

On 17 May 2024, the NCLT convened via video conferencing to approve the merger proposal between IDFC First Bank and IDFC Limited. The proposal, endorsed by the bank's shareholders and NCD holders, involves two steps: IDFC FHCL merging with IDFC Limited, followed by IDFC Limited merging into IDFC First Bank.[31][32]

On 1 October 2024, IDFC Limited merged with the bank.[33] As a result of the merger, 155 equity shares of the bank were allotted for every 100 equity shares of IDFC Limited held by each shareholder in the latter.[34]

Shareholding

[edit]
Shareholder Group Percentage
Promoters (including IDFC Limited's proposed investment) 40.00
Foreign Institutional Investors (FIIs) 24.48
Domestic Institutional Investors (DIIs) 9.50
Public Shareholding 26.02
Other 2.22

As of September 2023, the promoter holding at the bank is 40.00 the institutional holding is at 24.48, the public holding is at 26.02.[35] But on 22 February 2023, IDFC Limited announced it intention to invest INR 2,200 crores in the bank. This will bring IDFC Limited's current holding in the bank up to 40 percent, from the current level of 36.38 percent.[36]

Also, on 22 February 2023, the bank issued 12,03,745 equity shares to its employees under the company ESOP plan.[37]

On September 12, 2023, US-based GQG Partners acquired an additional 5.1 crore shares, equivalent to a 0.76% stake, from V. Vaidyanathan in a block deal conducted on the stock exchange. As a result, GQG Partners' ownership in the bank rose to 3.36%.[38][39]

The parent entity, IDFC Limited, retained the AMC, Institutional Broking, and Infrastructure Debt Fund businesses through IDFC Financial Holding Company Limited (NOFHC).[40]

In July 2024, Life Insurance Corporation raised its stake in the bank to 2.68% by purchasing shares of the lender at Rs 80.63 each, with a total acquisition cost of ₹1,500 crore (US$180 million).[41]

Operations

[edit]
A branch of IDFC First Bank in Prabhadevi, Mumbai

The bank transformed from infrastructure to retail banking in four years since the merger, increasing the CASA ratio from 8.6% to 49.77% (March 31, 2023) and retail deposits from 27% to 76% of total deposits.[42][43]

As of November 2022, the bank had 809 branches, 249 asset service centres, 925 ATMs, and 606 rural business correspondent centres across the country.[44][45][46]

Products and services

[edit]
A branch of IDFC First Bank in HSR Layout, Bangalore

The bank provides products and services related to retail banking, wholesale banking and investment banking.[47][48][49][50]

The bank became a member of the Open Network for Digital Commerce in September 2022. Subsequently, it began enrolling small merchants, who are existing customers with current accounts, onto a partner application registered with ONDC.[51][52]

Environmental, social, and governance

[edit]
  • IDFC FIRST Bharat Limited (IFBL) originated from Tamil Nadu-based Grama Vidiyal, which was established in 1986 as a Public Charitable Trust. In 2003, it evolved into Grama Vidiyal Micro Finance Limited (GVMFL) with a dual focus on financial inclusion sustainability and on women and family development. In 2016, IDFC Bank acquired GVMFL and renamed it “IDFC Bharat Limited”, operating as a wholly-owned subsidiary of IDFC Bank.[53][54] Following the merger with Capital First Limited, it became known as IDFC FIRST Bharat Limited.[55]

Financials

[edit]

The bank achieved a profit after tax (PAT) of ₹2,957 crore (US$350 million) crore in the financial year 2024, maintaining a capital adequacy ratio of 16.82%. The bank's retail loans showing a gross non-performing asset (NPA) ratio of 1.88% and a net NPA ratio of 0.60% as of March 31, 2024.[56] As of 30 September 2024, the overall gross NPA ratio is 1.92%, while the net NPA ratio is 0.48%.[57]

Milestones

[edit]
  • 2003 - The company raised $200 million for the India Development Fund, the first infrastructure-focused private equity fund.[58]
  • 2010 - Infrastructure Development Finance Corporation (IDFC) has raised ₹2,654 crore by a qualified institutional placement (QIP), attracting demand for twice the shares on offer, according to an advisor to the sale.[59]
  • 2013 - IDFC becomes the first Indian institution to adopt Equator principles.[60]
  • 2014 - RBI grants a banking license to IDFC Bank.[61]
  • 2017 - The bank IDFC Bank is the first in India to launch an Aadhaar-linked cashless merchant solution.[62][63]
  • 2018 - IDFC Bank merged with Capital First to create IDFC First Bank.[64]
  • 2020 - The bank announced that it has signed Amitabh Bachchan, as its first brand ambassador.[65]
  • 2021 - It announced the entry into the credit card sector with low interest rates and interest free credit in 2021.[66]
  • 2022 - IDFC signs the UNGC Global Compact.[67][68]
  • 2022 - The bank becomes first Indian bank to be the member of Task Force on Climate-Related Financial Disclosures.[69]
  • 2023 - Launches central bank digital currency under the guidance of the RBI.[70]
  • 2023 - The bank secured exclusive sponsorship rights for all Board of Control for Cricket in India's international and domestic home matches.[71][72] Also, it became the top 10 most valuable publicly traded banks in India, with a market capitalization of Rs 66,386.78 crore.[73][74]
  • 2023 - Launched a UPI-based digital RuPay credit card.[75]
  • 2024 - Partnered with Infibeam's CCAvenue for country-wide credit card EMI solutions.[76]
  • 2024 - Declared as "Category A" commercial bank as per joint Indian Institute of Technology Bombay-Moneylife Foundation report.[77]

Philanthropy

[edit]

Under bank’s employee-funded Ghar Ghar Ration program, the bank employees will supply ration kits to 50,000 low income customers whose livelihoods has been impacted by the pandemic.[78] As many as 16,000 beneficiaries have been reached across Rajasthan, Madhya Pradesh, Maharashtra, Odisha, Gujarat, Karnataka, Haryana, Tamil Nadu, Andhra Pradesh, and Chhattisgarh under this program. The lender has also identified 250 vulnerable families who have lost an earning member of their family to COVID-19 with a cash relief support of ₹10,000 in a partnership with 'Give India'.[79]

Awards and recognitions

[edit]

2019

[edit]

2021

[edit]

2022

[edit]

2023

[edit]
  • Capital Finance International's Outstanding Commitment to ESG Performance (India) for the year 2023[88]

See also

[edit]
Wikimedia Commons has media related to IDFC FIRST Bank.

References

[edit]
  1. ^ a b c d "IDFC First Bank" (PDF).
  2. ^ a b "IDFC First Bank" (PDF).
  3. ^ "CRISIL upgrades IDFC First Bank's LT rating to 'AA+'". Capital Market. 5 June 2023. Retrieved 21 June 2023.
  4. ^ "Ind-Ra affirms IDFC First Bank's debt instruments ratings with stable outlook". Financial Express. 12 December 2023. Retrieved 26 December 2023.
  5. ^ "IDFC FIRST Bank Ltd Long Term Instruments - Non Convertible Debentures October 03, 2023" (PDF). CARE Ratings. 3 October 2023. Retrieved 1 February 2024.
  6. ^ "IDFC FIRST Bank Company ESG Rating May 23, 2024". Sustainalytics. 23 May 2024. Retrieved 16 September 2024.
  7. ^ "FTSE Emerging ESG Index-Indicative Index Weight Data as at Closing on 13 September 2024". FTSE Russell. 13 September 2024. Retrieved 16 September 2024.
  8. ^ "IDFC First Bank Limited ESG Score". S&P Global. 23 January 2024. Retrieved 16 September 2024.
  9. ^ "MSCI ESG RATINGS IDFC First Bank Limited". MSCI. 16 September 2024. Retrieved 16 September 2024.
  10. ^ "7 things to know about IDFC Bank | Business Standard News". Business-standard.com. 1 October 2015. Retrieved 15 October 2016.
  11. ^ https://www.business-standard.com/companies/news/idfc-first-bank-announces-completion-of-idfc-ltd-merger-effective-oct-1-124092701325_1.html
  12. ^ PTI (19 October 2015). "Narendra Modi inaugurates IDFC Bank, talks of banking reforms". mint. Retrieved 12 December 2022.
  13. ^ "PM inaugurates IDFC Bank | Business Standard News". Business Standard India. Business-standard.com. 19 October 2015. Retrieved 15 October 2016.
  14. ^ Saha, Manojit (25 July 2015). "IDFC Bank to start operations from Oct 1 | Business Standard News". Business Standard India. Business-standard.com. Retrieved 15 October 2016.
  15. ^ "IDFC Bk to start ops with few branches by Oct 1: Rajiv Lall". Moneycontrol.com. 12 April 2015. Retrieved 15 October 2016.
  16. ^ Tadas, G. A. (August 2020). Need for Setting Up of a New Development Bank (RIS-DP #254) (PDF). New Delhi, India: Research and Information System for Developing Countries. p. 7.{{cite book}}: CS1 maint: date and year (link)
  17. ^ Kalbag, Chaitanya (3 July 2012). "V. Vaidyanathan takes wing with a $17 million stake in a star NBFC". Business Today. Retrieved 3 August 2023.
  18. ^ Sitaraman, Krishnan; Narayanan, Subhasri; Gupta, Leena. "Rating Rationale - IDFC FIRST Bank Limited Reaffirmed". www.crisil.com. Retrieved 3 August 2023.
  19. ^ Roy, Anup (13 January 2018). "IDFC Bank to merge with Capital First, Vaidyanathan to succeed Lall". Business Standard. Retrieved 29 October 2024.
  20. ^ R, Rajee (25 September 2018). "Rating Rationale of Capital First Limited" (PDF). Brickwork Ratings. Retrieved 3 August 2023.
  21. ^ "RBI approves appointment of V Vaidyanathan as MD, CEO of IDFC First Bank". Moneycontrol. 18 January 2019. Retrieved 12 December 2022.
  22. ^ sundarajan, Priya (13 January 2018). "IDFC Bank to take over Capital First in share swap deal". www.thehindubusinessline.com. Retrieved 12 December 2022.
  23. ^ Sinha, Shilpy. "IDFC, Capital First completes merger process to form IDFC First Bank". The Economic Times. eonomictimes.com.
  24. ^ Iyer, Aparna (15 January 2018). "IDFC Bank, Capital First merger: will the shoe fit this time?". Mint (newspaper). Retrieved 29 October 2024.
  25. ^ "India's IDFC to merge with IDFC First Bank in latest consolidation". Reuters. 3 July 2023. Retrieved 4 July 2023.
  26. ^ "IDFC to merge with IDFC First Bank". The Hindu. 3 July 2023. ISSN 0971-751X. Retrieved 4 July 2023.
  27. ^ Livemint (17 October 2023). "IDFC gets CCI nod for merger with IDFC First Bank". mint. Retrieved 25 October 2023.
  28. ^ "IDFC-IDFC First Bank merger proposal gets CCI nod; stock up 2%". www.fortuneindia.com. 10 October 2023. Retrieved 25 October 2023.
  29. ^ Bhattacharya, Shubhayan (18 December 2023). "IDFC First Bank Gets RBI Nod For Merger Of IDFC, IDFC Financial Holding With Self". NDTV Profit. Retrieved 26 December 2023.
  30. ^ "IDFC First Bank shares surge 3% as RBI approves merger with IDFC, IDFC Financial Holding". Moneycontrol. 19 December 2023. Retrieved 26 December 2023.
  31. ^ PTI (18 May 2024). "Debt, equity holders approve merger of IDFC with IDFC First Bank". BusinessLine. Retrieved 25 June 2024.
  32. ^ "Majority shareholders of IDFC First Bank approves amalgamation of IDFC Ltd with lender". Business Today. 18 May 2024. Retrieved 25 June 2024.
  33. ^ "IDFC FIRST Bank announces completion of IDFC Ltd merger". Financialexpress. 27 September 2024. Retrieved 15 October 2024.
  34. ^ Deshpande, Swapnil (27 September 2024). "IDFC First Bank completes merger with IDFC Limited - CNBC TV18". CNBCTV18. Retrieved 15 October 2024.
  35. ^ "Latest Shareholding Pattern - IDFC First Bank Ltd". Trendlyne.com. Retrieved 23 February 2023.
  36. ^ Reporter, B. S. (1 February 2023). "IDFC Ltd to invest Rs 2,200 crore in IDFC First Bank, up its stake to 40%". www.business-standard.com. Retrieved 23 February 2023.
  37. ^ "IDFC First Bank allots shares worth Rs 1.2 cr to employees as stock options". Free Press Journal. Retrieved 23 February 2023.
  38. ^ "IDFC First Bank rises 2% on Rs 479.5-cr block deal with GQG Partners". Moneycontrol. Retrieved 14 September 2023.
  39. ^ "US-based GQG Partners ups IDFC First Bank stake, acquires shares from CEO V. Vaidyanathan". www.telegraphindia.com. Retrieved 14 September 2023.
  40. ^ Gopakumar, Gopika (21 July 2021). "IDFC can exit as promoter of IDFC First Bank, clarifies RBI". mint. Retrieved 12 December 2022.
  41. ^ "LIC raises stake in IDFC First Bank to 2.68%". The Hindu. 4 July 2024. ISSN 0971-751X. Retrieved 29 October 2024.
  42. ^ "IDFC FIRST Bank FY23 Profit After Tax Highest-Ever at Rs. 2,437". Bloomberg.com. 2 May 2023. Retrieved 21 June 2023.
  43. ^ Shukla, Saloni; Rangan, MC Govardhana. "IDFC First Bank's transformation to retail complete; NPA woes behind, says CEO V Vaidyanathan". The Economic Times. Retrieved 12 December 2022.
  44. ^ Market, Capital (5 November 2022). "IDFC First Bank gets board approval to raise Rs 4,000 cr". Business Standard India. Retrieved 12 December 2022.
  45. ^ Korgaonkar, Deepak (15 June 2023). "IDFC First Bank at over 6-yr high; zooms 47% in 2 months on stable outlook". www.business-standard.com. Retrieved 21 June 2023.
  46. ^ Kayastha, Anshika (8 August 2023). "Want to stay on the pitch for long, not hit sixes and fours: IDFC First Bank MD". BusinessLine. Retrieved 3 September 2023.
  47. ^ "Home loans are our biggest driver and they'll keep growing: V Vaidyanathan, MD & CEO, IDFC First Bank". Financialexpress. 7 May 2022. Retrieved 12 December 2022.
  48. ^ Kulkarni, Sneha. "IDFC First Bank revises savings account interest rate: Earn up to 6% interest rates on this amount". The Economic Times. Retrieved 10 August 2022.
  49. ^ "IDFC First Bank to give 7% interest on savings account opened through video KYC". Financialexpress. 28 May 2020. Retrieved 10 August 2022.
  50. ^ "Interest rate on Savings account up to 6% p.a. | IDFC FIRST Bank". www.idfcfirstbank.com. Retrieved 10 August 2022.
  51. ^ Livemint (7 September 2022). "IDFC First Bank joins ONDC". mint. Retrieved 13 July 2023.
  52. ^ "IDFC First Bank joins ONDC — what does it mean for you?". cnbctv18.com. 7 September 2022. Retrieved 13 July 2023.
  53. ^ "IDFC Bank buys Grama Vidiyal Micro". BusinessLine. 25 July 2016. Retrieved 31 March 2024.
  54. ^ "IDFC Bank acquires Grama Microfinance". The Indian Express. 13 July 2016. Retrieved 31 March 2024.
  55. ^ News Service, PTI (25 October 2018). "IDFC Bank to be renamed as IDFC First Bank after merging with Capital First". Business Standard. Retrieved 31 March 2024.
  56. ^ "IDFC FIRST Bank Achieves Lowest-Ever Gross NPA of 1.88% in FY24, says V Vaidyanathan". Outlook Business. 2 September 2024. Retrieved 29 October 2024.
  57. ^ Singh, Navdeep (28 October 2024). "IDFC First Bank shares nosedive 10%, hit 52-week low as Q2 profit plummets 73%". The Economic Times. ISSN 0013-0389. Retrieved 29 October 2024.
  58. ^ "IDFC: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of IDFC - NDTV". www.ndtv.com. Retrieved 12 December 2022.
  59. ^ Reporter, B. S. (30 June 2010). "IDFC sells shares worth Rs 2,654 cr". Business Standard India. Retrieved 12 December 2022.
  60. ^ "IDFC becomes first Indian institution to adopt Equator principles - Photos News, Firstpost". Firstpost. 10 June 2013. Retrieved 12 December 2022.
  61. ^ "RBI grants in-principle approval to IDFC, Bandhan for new bank licences". The Economic Times. Retrieved 12 December 2022.
  62. ^ K.R.Srivats (7 March 2017). "IDFC Bank takes the lead, launches Aadhaar Pay". The Hindu Business Line. Retrieved 9 March 2017.
  63. ^ "IDFC Bank launches aadhaar-linked cashless merchant solution – The Economic Times". The Economic Times. Retrieved 17 January 2017.
  64. ^ "Capital First merges with IDFC Bank to create IDFC First Bank". Moneycontrol. 18 December 2018. Retrieved 12 December 2022.
  65. ^ IDFC FIRST Bank (11 March 2020). "IDFC FIRST Bank names India's iconic personality Mr. Amitabh Bachchan as Brand Ambassador" (PDF). Press Release. Retrieved 21 March 2020.
  66. ^ Mint (19 January 2021). "IDFC First Bank to offer interest-free cash on credit cards". Retrieved 21 January 2021.
  67. ^ Kumar, Kishore; Prakash, Ajai (10 January 2019). "Examination of sustainability reporting practices in Indian banking sector". Asian Journal of Sustainability and Social Responsibility. 4 (1): 2. doi:10.1186/s41180-018-0022-2. hdl:10419/217379. ISSN 2365-6417. S2CID 256465929.
  68. ^ "IDFC FIRST Bank Limited". unglobalcompact.org. Retrieved 16 September 2024.
  69. ^ Velonie, Ajit; Sri Narayanan, Subha; Gupta, Leena (9 October 2023). "Rating Rationale IDFC FIRST Bank Limited CRISIL AA+/Stable assigned to Tier II Bonds (Under Basel III)". CRISIL. Retrieved 16 September 2024.
  70. ^ Ray, Anulekha (9 November 2022). "RBI CBDC: Digital Rupee pilot starts from November 1; SBI, HDFC, 7 other banks to participate in wholesale launch". The Economic Times. ISSN 0013-0389. Retrieved 13 July 2023.
  71. ^ Farooqui, Javed (25 August 2023). "BCCI awards title sponsorship rights to IDFC First for Rs 235 crore". The Economic Times. ISSN 0013-0389. Retrieved 3 September 2023.
  72. ^ "IDFC FIRST Bank secures title rights for Team India's home internationals for Rs 4.2 crore per match". cnbctv18.com. 25 August 2023. Retrieved 3 September 2023.
  73. ^ Sultana, Nasrin. "How Does IDFC First Stack Up Among India's Top 10 Most Valued Banks". Forbes India. Retrieved 14 September 2023.
  74. ^ Sonavane, Ravindra. "IDFC First joins elite club of 10 most valuable listed banks in India". Moneycontrol. Retrieved 14 September 2023.
  75. ^ "IDFC First Bank unveils UPI-based digital RuPay credit card". The Hindu. 7 December 2023. ISSN 0971-751X. Retrieved 26 December 2023.
  76. ^ Mishra, Arushi (6 February 2024). "Infibeam Avenue partners with IDFC First Bank". BusinessLine. Retrieved 29 February 2024.
  77. ^ "IDFC First Bank named 'class apart' in report". The Hindu. 23 May 2024. ISSN 0971-751X. Retrieved 4 June 2024.
  78. ^ "IDFC FIRST Bank launches Customer COVID relief Ghar Ghar Ration Program". Financialexpress. 11 June 2021. Retrieved 12 December 2022.
  79. ^ "IDFC First Bank Employees to Fund Covid Relief for Customers". Outlook Money. Retrieved 12 December 2022.
  80. ^ "Best Private Bank – Digital Innovation & Services". Asian Private Banker. Retrieved 29 February 2024.
  81. ^ marten (24 November 2019). "IDFC FIRST Bank: Most Promising New Bank India 2019". CFI.co. Retrieved 29 February 2024.
  82. ^ Bandyopadhyay, Tamal (2021). "INCLUSIVE FINANCE INDIA REPORT 2020 - An ACCESS Publication" (PDF). Water.org. Retrieved 29 February 2024.
  83. ^ "Most Trusted Brands Of India 2021". CNBCTV18. 1 April 2021. Retrieved 29 February 2024.
  84. ^ "Best for HNW in India 2021". Asiamoney. 15 June 2021. Retrieved 29 February 2024.
  85. ^ "FE BEST BANKS AWARDS: Rajeev Chandrasekhar to grace FE awards event today". Financialexpress. 16 October 2023. Retrieved 23 November 2023.
  86. ^ marten (26 October 2022). "IDFC FIRST Bank: Best Sustainable Banking Strategy India 2022". CFI.co. Retrieved 29 February 2024.
  87. ^ www.ETBFSI.com. "ET BFSI Awards 2022". ETBFSI.com. Retrieved 29 February 2024.
  88. ^ marten (22 November 2023). "IDFC FIRST Bank: Outstanding Commitment to ESG Performance (India) 2023". CFI.co. Retrieved 23 November 2023.

Further reading

[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=IDFC_First_Bank&oldid=1255597052"