What is the Full Form of IDFC | Physics Wallah

IDFC Full Form

The full form of IDFC is the “Infrastructure Development Finance Company”. It is Incorporated in 1997, which provides financial assistance and advisory services primarily for investment banking, asset management, and infrastructure projects. Its headquarters are situated in Chennai with many subsidiaries, including IDFC Bank, IDFC Foundation, IDFC Pension Fund Management, and IDFC Securities.

Quick Facts

• IDFC was first established on the 30th of January 1997 and began its operations later that year, on the 9th June 1997.
• IDFC is traded both on the Bombay Stock Exchange and the National Stock Exchange of India. It was first registered in 2005.
• In 2014, the RBI granted approval for IDFC to set up a new bank in the private sector, namely the IDFC First Bank. They began operative in November 2015 as a result of the demerger from IDFC limited.
• In May 2008, the company acquired the asset management business of the Standard Chartered Bank. This company, known as the Standard Chartered Asset Management Company Private Limited, was rebranded as IDFC Asset Management Company Private Limited and IDFC AMC Trustee Company Private Limited.
• In 2008-09 the company subscribed to 100% of the equity shares of IDFC Capital. Later, in the same year, the IDFC Foundation was established with an aim to target on capacity building, policy advisory, and sustainability initiatives.
• IDFC Bank has over 23 branches across states.
• The business focus is on corporate and private customers in India, making use of specialized infrastructure.
• Amitabh Bachchan is the brand ambassador of IDFC Bank.
• IDFC First Bank has recently declared its entry into the credit card sector in 2021.
• IDFC bank has been instrumental in the success of the eCommerce big Flipkart. Their largest loan to the date is the ₹3 billion loan disbursed to Flipkart.
• IDFC is the first bank who introduce Aadhar linked cashless merchant solutions.
• IDFC First Bank partnered with the popular NBFC Fintech company was MobiKwik to launch its Visa Prepaid card for its customers.