knowmyifsc.com

IDFC FIRST Bank Ltd.

The foundational structure of IDFC FIRST Bank traces its origins to the Infrastructure Development Finance Company (IDFC) Limited, which was established by the Government of India in 1997 to finance critical infrastructure projects. This specialized Non-Banking Financial Company (NBFC) received a universal banking license from the Reserve Bank of India (RBI) in 2015, leading to the launch of IDFC Bank on October 1, 2015, initially focusing on wholesale and infrastructure financing. A pivotal strategic transformation occurred in December 2018 when IDFC Bank merged with Capital First Limited, a consumer finance NBFC with strong retail lending and digital capabilities. This merger fundamentally redefined the institution's direction, leading to its rebranding as IDFC FIRST Bank and marking a decisive shift from an infrastructure-focused lender to a full-service universal bank with a strong emphasis on the retail and MSME segments. The institution is an Indian private sector bank and is a publicly traded company, listed on both the BSE and NSE.

This strategic pivot and subsequent integration into a comprehensive commercial entity highlights IDFC FIRST Bank's significance as a rapidly evolving player in the modern Indian financial system. The bank's transformation from a quasi-governmental infrastructure financing institution to a tech-leveraged, customer-centric retail bank underscores a key trend in the contemporary banking sector. By leveraging a vast branch network and expanding its digital banking offerings, the bank has aggressively grown its retail deposit and loan portfolio, serving millions of customers across urban and rural India. Furthermore, the bank's 2024 reverse merger with its parent company, IDFC Limited, consolidated its operational structure, positioning it as a significant, integrated banking force focused on technology-driven financial inclusion and a high-growth retail strategy.