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IDFC First Bank Ltd. Company History and Annual Growth Details

IDFC Bank was incorporated as a wholly owned subsidiary of IDFC on October 21, 2014 under the Companies Act, 2013 having its registered office at KRM Tower, 8th Floor, No.1 Harrington Road, Chetpet, Chennai - 600 031, after in-principle approval to set up a new bank in the private sector was granted to IDFC by the RBI on April 9, 2014. Subsequently, pursuant to the Scheme of Demerger we have issued equity shares and currently our Bank is a subsidiary of IDFC FHCL which holds 53% of our BanksÂ equity share capital.

IDFC Bank Limited (ÂIDFC BankÂ) is a professionally managed new private sector bank in India, promoted by IDFC Limited (ÂIDFCÂ). IDFC, which we believe to be one of the leading integrated financial services companies in India, offers, including through its subsidiaries (the ÂIDFC GroupÂ) a wide range of customercentric financing solutions and conducts complementary businesses under the well-recognized brand, ÂIDFCÂ.

IDFC Bank has been established as a public limited company to carry out the business of banking. IDFC Bank have started our banking operations from October 1, 2015 after receipt of final banking license from the RBI. Our Bank has three business verticals namely Commercial and Wholesale banking, Rural banking, Personal and Business banking. The majority of the branches will be in rural India and the quality of customer service and digital banking will be the primary focus of our Bank.

2015
-IDFC Bank Ltd (Scrip Code: 539437) are listed and admitted to dealings on the BSE Exchange.
-IDFC Bank ties up with TCS for core banking solutions

2016
-IDFC Bank launches services in Tripura, opens first branch in Agartala
-IDFC Bank launches services in Meghalaya, opens first branch in the North East
-IDFC Bank wins top honours at IFR Asia, awarded ÂIndia Bond HouseÂ 2015

2017
-Bank acquired 100% equity stake in Grama Vidiyal Micro Finance Limited.
-IDFC Bank partners MobiKwik for largest issue of virtual in-app prepaid cards on Visa platform.
-IDFC Bank launches its 100th branch at Honnali in Karnataka.
-IDFC Bank partners with Zeta to launch ÂIDFC Bank BenefitsÂan employee benefits solution for corporates.

2018
-IDFC Bank to be renamed as IDFC First Bank after merging with Capital First.
-Capital First receives the Economic Times Best BFSI Brand Award 2018.
-Capital First receives ÂOutstanding Corporate Transformation India 2018Â award by Capital Finance International 2018 .

2019
-IDFC FIRST Bank wins Banking frontiers finnoviti Awards 2019 on 25th Jan 2019. The Award was in recognition of our innovation on BHIM UPI platform titled, "Digital Credit Disbursals in IDFC First Bank BHIM UPI railroads".
-Company name has changed to IDFC First Bank Ltd. from IDFC Bank Ltd..

2020
-Prestigious Brands of India 2020 by Herald Global and BARC Asia.
-Most Transformed New Bank India 2020.
-IDFC FIRST Bank launches Video KYC for online Savings Accounts.
-IDFC FIRST Bank launches SafePay - contactless card payments on phone.

2021
-IDFC FIRST Bank wins at the Asia Private Banking Awards 2021.
-IDFC FIRST Bank named Best Consumer Digital Bank in India 2021.
-IDFC FIRST Bank wins big at the Digital CX Awards 2021.
-IDFC FIRST Bank launches ReachOutReachWithin - a digital CSR campaign to raise awareness about Mental Health.
-IDFC FIRST Bank launches Employee-funded Customer COVID relief - Ghar-Ghar Ration Program.
-HPCL and IDFC FIRST Bank partner to enable fuel payments using FASTag.

2022
-IDFC FIRST Bank announces ÂZero-Fee BankingÂ for commonly used services in savings accounts.
-IDFC FIRST Bank and NASSCOM COE partner to grow the innovation ecosystem.
-IDFC FIRST Bank launches Digital Banking Units in Kendujhar and Dimapur.
-IDFC FIRST Bank joins the Open Network for Digital Commerce (ONDC).
-IDFC FIRST Bank partners LetsVenture to support Startups.

2023

- IDFC to merge with its banking arm in all-stock deal. The boards of both IDFC First Bank and IDFC have approved the reverse merger. The valuation of the merged entity is estimated to be Rs 71,767 crore based on the closing prices of the two companies on the stock exchange.

-CFI Award for outstanding Commitment to ESG performance in 2023
-IDFC First Bank Wins the prestigious golden Peacock Award for ESG ( National ) for 2023
-IDFC First Bank emerges as the 'Best Digital Bank' at FE India's Best Banks Awards 2023
-IDFC First Bank Wins 2 National Awards for Excellence
-IDFC First Bank Wins the Best Corporate Goverance Award for 2023

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