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IDFC News

28 Dec 2023

IDFC-IDFC First Bank Merger Approved By RBI

The Scheme remains subject to other statutory and regulatory approvals inter alia including from the National Company Law Tribunal and the respective shareholders and creditors of the companies involved in the Scheme, under applicable laws, added IDFC Ltd.

28 May 2022

IDFC Bank hikes fixed deposit interest rates, check latest FD rates

The bank has increased the interest rate on FDs maturing in 7 days to 14 days to 3.50 per cent. IDFC Bank is now offering a 3.50 per cent interest on fixed deposits (FDs) with a maturity period of 7-29 days. The interest rate on FDs maturing in 15 days to 29 days has been increased to 3.50 per cent.

11 Sep 2021

DHFL insolvency case: Here’s why RBI’s IBC route didn’t work for the lender

The IBC process was meant to revive businesses. On the contrary, IBC has been a fraught process. Experts say IBC has neither been swift, as promised, nor the level of recoveries, projected at a very low 20% levels, were encouraging.

IDFC First Bank

22 Jul 2021

RBI allows IDFC to exit IDFC First Bank

In a regulatory filing made to the BSE, IDFC said that the RBI on July 20 clarified that "after the expiry of lock-in period of 5 years, IDFC Limited can exit as the promoter of 'IDFC FIRST Bank Limited'".

IDFC First Bank

13 Jun 2021

THIS bank is offering free ration to COVID affected, low-income customers

The programme is funded by the employees of the bank. IDFC FIRST Bank has also rolled out several other initiatives for its employees. 1000+ ration kits in Maharashtra, Rajasthan and Haryana have been delivered.

09 May 2021

Bank alert! THIS bank has changed fixed deposits interest rates

The new interest rates on FDs will be applicable from May 1. The interest rate on FDs will range from 2.75% to 6% per annum. Interest rates depend on the time duration for which you invest your money.

01 May 2021

Alert! THIS bank has slashed interest rates

IDFC First Bank has slashed its interest rates on savings accounts from 6% to 4-5%. The new rates will be effective from 1 May. Bank customers with balances up to Rs 2 crore will get a 5% interest rate.

IDFC Shriram merger

30 Oct 2017

IDFC, Shriram merger called off over share swap disagreement

As per the plans, almost all key businesses of the Shriram Group were to merger with either IDFC Bank or IDFC.

03 Jul 2017

IDFC plans Rs 10,000 crore fund raise for biz expansion

IDFC will seek its shareholders' approval to raise Rs 10,000 crore by issuing debt securities on private placement basis.

17 Sep 2016

IDFC issues commercial papers of Rs 700 crore

Infrastructure lender IDFC Ltd has issued commercial papers (CPs) worth Rs 700 crore earlier this week.

09 Sep 2016

Subramanian Swamy terms IDFC's Rs 550-cr loan to GSTN as 'loot'

Continuing to attack the firm set up by the UPA government to provide support structure for GST rollout, BJP MP Subramanian Swamy today alleged "loot" in IDFC extending a Rs 550-crore loan to GSTN on government guarantee.

08 Jul 2016

Key reasons for investing in Tata steel and IDFC

12 May 2016

IDFC Alternatives raises Rs 475 crore to invest in housing projects

IDFC Alternatives has raised Rs 475 crore in its third real estate fund to invest in residential projects across seven major cities.

19 Sep 2015

IDFC gets RBI nod for using Rs 2,500 crore reserve as provision

Infrastructure finance firm IDFC on Saturday said it has got regulatory approval to utilise Rs 2,500 crore non-distributable reserves for provisions against bad loans as part of exercise to clean its book before venturing into universal banking.

31 Jul 2015

IDFC to set aside additional Rs 2.5K cr as special reserve

IDFC on Friday said government's moves on gas and power sector have not had desired impact and it is forced to create a special reserve of Rs 4,500 crore to cover expected losses from power sector loans, which will ring-fence its soon-to-be-launched universal bank.

31 Jul 2015

IDFC to make additional provisioning of Rs 2,500 cr, will impact net

"Given that we will be transitioning to a bank by the end of second quarter of 2015-16 with no visible solution for these assets, we believe it is prudent for us to make incremental provisions against known risks," IDFC said in a BSE filing.

30 Jul 2015

IDFC Q1 net dips 46% to Rs 241 cr

Total income increased marginally to Rs 2,087.08 crore for the quarter ended June 30, from Rs 2,039.17 crore for the quarter ended June 30, 2014, IDFC said in a BSE filing.

24 Jul 2015

IDFC gets RBI nod for starting banking operation

The bank proposes to start operations with 20 branches.

16 Jun 2015

IDFC bank branches to be mix of metros, backward areas

IDFC, which is targeting full-fledged debut as bank by October, Tuesday said it is working on a "binary strategy" that will entail opening branches in metros as well as backward districts of the country.

15 Jun 2015

Ajay Mahajan is IDFC's Commercial, Wholesale Banking Head

"In this role, Mahajan will oversee coverage of SME, mid-cap and large corporates, financial institutions, government business and transaction banking, treasury and markets and investment banking," IDFC said in a statement.

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