IDFC First Bank: Difference between revisions
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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.<ref>{{Cite web |last=PTI |date=2024-05-18 |title=Debt, equity holders approve merger of IDFC with IDFC First Bank |url=https://www.thehindubusinessline.com/money-and-banking/debt-equity-holders-approve-merger-of-idfc-with-idfc-first-bank/article68190758.ece |access-date=2024-06-25 |website=BusinessLine |language=en}}</ref><ref>{{Cite web |date=2024-05-18 |title=Majority shareholders of IDFC First Bank approves amalgamation of IDFC Ltd with lender |url=https://www.businesstoday.in/latest/corporate/story/majority-shareholders-of-idfc-first-bank-approves-amalgamation-of-idfc-ltd-with-lender-430065-2024-05-18 |access-date=2024-06-25 |website=[[Business Today (India)|Business Today]] |language=en}}</ref> |
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.<ref>{{Cite web |last=PTI |date=2024-05-18 |title=Debt, equity holders approve merger of IDFC with IDFC First Bank |url=https://www.thehindubusinessline.com/money-and-banking/debt-equity-holders-approve-merger-of-idfc-with-idfc-first-bank/article68190758.ece |access-date=2024-06-25 |website=BusinessLine |language=en}}</ref><ref>{{Cite web |date=2024-05-18 |title=Majority shareholders of IDFC First Bank approves amalgamation of IDFC Ltd with lender |url=https://www.businesstoday.in/latest/corporate/story/majority-shareholders-of-idfc-first-bank-approves-amalgamation-of-idfc-ltd-with-lender-430065-2024-05-18 |access-date=2024-06-25 |website=[[Business Today (India)|Business Today]] |language=en}}</ref> |
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On 1 October 2024, IDFC Limited merged with the bank.<ref>{{Cite web |date=2024-09-27 |title=IDFC FIRST Bank announces completion of IDFC Ltd merger |url=https://www.financialexpress.com/business/banking-finance-idfc-first-bank-announces-completion-of-idfc-ltd-merger-3624348/ |access-date=2024-10-15 |website=Financialexpress |language=en}}</ref> 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.<ref>{{Cite web |last=Deshpande |first=Swapnil |date=2024-09-27 |title=IDFC First Bank completes merger with IDFC Limited - CNBC TV18 |url=https://www.cnbctv18.com/market/idfc-first-bank-completes-merger-with-idfc-ltd-19484050.htm |access-date=2024-10-15 |website=CNBCTV18 |language=en}}</ref> |
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== Shareholding == |
== Shareholding == |
Revision as of 06:08, 15 October 2024
Company type | Private sector bank |
---|---|
BSE: 539437 NSE: IDFCFIRSTB | |
ISIN | INE092T01019 |
Industry | Banking Financial services |
Predecessor | IDFC Bank Capital First Ltd. |
Founded | October 2015 |
Headquarters | Mumbai, Maharashtra, India |
Key people | V. Vaidyanathan (MD & CEO) |
Products | |
Revenue | ₹36,257 crore (US$4.3 billion) (2024)[1] |
₹6,239 crore (US$750 million) (2024)[1] | |
₹2,942 crore (US$350 million) (2024)[1] | |
Total assets | ₹296,210 crore (US$35 billion) (2024)[2] |
Total equity | ₹25,145 crore (US$3.0 billion) (2024)[2] |
Number of employees | 20,222 (March 2020) |
Parent | Infrastructure Development Finance Company |
Subsidiaries | |
Capital ratio | 13.28% [1] |
Rating | |
Website | www |
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, an Indian non-bank financial institution.[10]
History
IDFC Limited was set up in 1997 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.[11][12]
IDFC Bank started operations on 1 October 2015.[13][14]
In January 2018, IDFC Bank and non-banking financial company Capital First announced a merger.[15] 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.[16][17] 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.[18]
Merger
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.[19] 13.9 shares of IDFC Bank were issued for every share of Capital First as part of the merger scheme.[20][21]
The parent entity, IDFC Limited, retained the AMC, Institutional Broking, and Infrastructure Debt Fund businesses through IDFC Financial Holding Company Limited (NOFHC).[22]
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.[23][24] In the mid of October 2023, the bank obtained clearance from the Competition Commission of India for its merger.[25][26] 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.[27][28]
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.[29][30]
On 1 October 2024, IDFC Limited merged with the bank.[31] 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.[32]
Shareholding
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.[33] 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.[34]
Also, on 22 February 2023, the bank issued 12,03,745 equity shares to its employees under the company ESOP plan.[35]
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%.[36][37]
Operations
In October 2023, the National Securities Depository Limited finalized a deal to acquire office space from IDFC First Bank at Naman Chambers in Bandra Kurla Complex. This transaction encompassed 68,000 square feet and amounted to ₹198 crore. This decision was to centralize its operations in proximity to its headquarters located at the IDFC FIRST Bank Tower.[38][39][40][41][42][43]
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.[44][45]
As of November 2022, the bank had 809 branches, 249 asset service centres, 925 ATMs, and 606 rural business correspondent centres across the country.[46][47][48]
Products and services
The bank provides products and services related to retail banking, wholesale banking and investment banking.[49][50][51][52]
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.[53][54]
Environmental, social, and governance
- 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.[55][56] Following the merger with Capital First Limited, it became known as IDFC FIRST Bharat Limited.[57]
Financials
The bank achieved a profit after tax (PAT) of ₹2,437 crore in the financial year 2023, maintaining a capital adequacy ratio of 16.82%. The bank's retail loans showing a gross non-performing asset (NPA) ratio of 1.65% and a net NPA ratio of 0.55% as of March 31, 2023. The overall gross NPA ratio is 2.51%, while the net NPA ratio is 0.86%. Excluding the infrastructure sector, which is being phased out, the gross NPA and net NPA ratios are 1.84% and 0.86%, respectively.[58]
Milestones
- 2003 - The company raised $200 million for the India Development Fund, the first infrastructure-focused private equity fund.[59]
- 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.[60]
- 2013 - IDFC becomes the first Indian institution to adopt Equator principles.[61]
- 2014 - RBI grants a banking license to IDFC Bank.[62]
- 2017 - The bank IDFC Bank is the first in India to launch an Aadhaar-linked cashless merchant solution.[63][64]
- 2018 - IDFC Bank merged with Capital First to create IDFC First Bank.[65]
- 2020 - The bank announced that it has signed Amitabh Bachchan, as its first brand ambassador.[66]
- 2021 - It announced the entry into the credit card sector with low interest rates and interest free credit in 2021.[67]
- 2022 - IDFC signs the UNGC Global Compact.[68][69]
- 2022 - The bank becomes first Indian bank to be the member of Task Force on Climate-Related Financial Disclosures.[70]
- 2023 - Launches central bank digital currency under the guidance of the RBI.[71]
- 2023 - The bank secured exclusive sponsorship rights for all Board of Control for Cricket in India's international and domestic home matches.[72][73] Also, it became the top 10 most valuable publicly traded banks in India, with a market capitalization of Rs 66,386.78 crore.[74][75]
- 2023 - Launched a UPI-based digital RuPay credit card.[76]
- 2024 - Partnered with Infibeam's CCAvenue for country-wide credit card EMI solutions.[77]
- 2024 - Declared as "Category A" commercial bank as per joint Indian Institute of Technology Bombay-Moneylife Foundation report.[78]
Philanthropy
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.[79] 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'.[80]
Awards and recognitions
2019
- Utkarsh Puraskar’ DigiDhan award - Digital Payments Utsav by Ministry of Electronics and Information Technology.
- Best Private Bank Award: Distinction in Digital Innovation & Services 2019 - Asian Private Banker.[81]
- Most Promising New Bank in India 2019, Capital Finance International (CFI).[82]
2021
- Excellence in Water and Sanitation Financing award Water.org.[83]
- Most Trusted Brands of India 2021 - CNBC TV18.[84]
- Best for HNW in India 2021 - Asiamoney.[85]
2022
- The Financial Express's Best Digital Bank for 2022–23[86]
- Best Sustainable Banking Strategy India 2022, Capital Finance International (CFI).[87]
- Best CSR Sustainability Awards for "Shwetdhara" campaign - The Economic Times.[88]
2023
- Capital Finance International's Outstanding Commitment to ESG Performance (India) for the year 2023[89]
See also
References
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- ^ a b "IDFC First Bank" (PDF).
- ^ "CRISIL upgrades IDFC First Bank's LT rating to 'AA+'". Capital Market. 5 June 2023. Retrieved 21 June 2023.
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- ^ "PM inaugurates IDFC Bank | Business Standard News". Business Standard India. Business-standard.com. 19 October 2015. Retrieved 15 October 2016.
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- ^ 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}}
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- ^ Sitaraman, Krishnan; Narayanan, Subhasri; Gupta, Leena. "Rating Rationale - IDFC FIRST Bank Limited Reaffirmed". www.crisil.com. Retrieved 3 August 2023.
- ^ R, Rajee (25 September 2018). "Rating Rationale of Capital First Limited" (PDF). Brickwork Ratings. Retrieved 3 August 2023.
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- ^ sundarajan, Priya (13 January 2018). "IDFC Bank to take over Capital First in share swap deal". www.thehindubusinessline.com. Retrieved 12 December 2022.
- ^ Sinha, Shilpy. "IDFC, Capital First completes merger process to form IDFC First Bank". The Economic Times. eonomictimes.com.
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- ^ "IDFC to merge with IDFC First Bank". The Hindu. 3 July 2023. ISSN 0971-751X. Retrieved 4 July 2023.
- ^ Livemint (17 October 2023). "IDFC gets CCI nod for merger with IDFC First Bank". mint. Retrieved 25 October 2023.
- ^ "IDFC-IDFC First Bank merger proposal gets CCI nod; stock up 2%". www.fortuneindia.com. 10 October 2023. Retrieved 25 October 2023.
- ^ 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.
- ^ "IDFC First Bank shares surge 3% as RBI approves merger with IDFC, IDFC Financial Holding". Moneycontrol. 19 December 2023. Retrieved 26 December 2023.
- ^ PTI (18 May 2024). "Debt, equity holders approve merger of IDFC with IDFC First Bank". BusinessLine. Retrieved 25 June 2024.
- ^ "Majority shareholders of IDFC First Bank approves amalgamation of IDFC Ltd with lender". Business Today. 18 May 2024. Retrieved 25 June 2024.
- ^ "IDFC FIRST Bank announces completion of IDFC Ltd merger". Financialexpress. 27 September 2024. Retrieved 15 October 2024.
- ^ Deshpande, Swapnil (27 September 2024). "IDFC First Bank completes merger with IDFC Limited - CNBC TV18". CNBCTV18. Retrieved 15 October 2024.
- ^ "Latest Shareholding Pattern - IDFC First Bank Ltd". Trendlyne.com. Retrieved 23 February 2023.
- ^ 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.
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- ^ "IDFC First Bank rises 2% on Rs 479.5-cr block deal with GQG Partners". Moneycontrol. Retrieved 14 September 2023.
- ^ "US-based GQG Partners ups IDFC First Bank stake, acquires shares from CEO V. Vaidyanathan". www.telegraphindia.com. Retrieved 14 September 2023.
- ^ Krishnan, Janaki (10 October 2023). "NSDL acquires office space in BKC from IDFC First Bank for ₹200 crore". BusinessLine. Retrieved 25 October 2023.
- ^ Jos Pullokaran, Jomy (9 October 2023). "IDFC FIRST Bank to sell Mumbai office premises to NSDL for ₹198 crore". cnbctv18.com. Retrieved 25 October 2023.
- ^ "Can IDFC First Bank make its mark in retail banking space?". The Economic Times. Retrieved 12 December 2022.
- ^ "IDFC First Bank Q2 net jumps 266% to Rs 556 cr". Financialexpress. 23 October 2022. Retrieved 13 December 2022.
- ^ "IDFC First Bank Q2 net profit jumps 266% to Rs 556 cr; NII climbs 32%". www.business-standard.com. Press Trust of India. 22 October 2022. Retrieved 13 December 2022.
- ^ PTI (22 October 2022). "IDFC First Bank Q2 Net Jumps 266% To Rs 556 Crore". BQ Prime. Retrieved 13 December 2022.
- ^ "IDFC FIRST Bank FY23 Profit After Tax Highest-Ever at Rs. 2,437". Bloomberg.com. 2 May 2023. Retrieved 21 June 2023.
- ^ 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.
- ^ Market, Capital (5 November 2022). "IDFC First Bank gets board approval to raise Rs 4,000 cr". Business Standard India. Retrieved 12 December 2022.
- ^ 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.
- ^ 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.
- ^ "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.
- ^ 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.
- ^ "IDFC First Bank to give 7% interest on savings account opened through video KYC". Financialexpress. 28 May 2020. Retrieved 10 August 2022.
- ^ "Interest rate on Savings account up to 6% p.a. | IDFC FIRST Bank". www.idfcfirstbank.com. Retrieved 10 August 2022.
- ^ Livemint (7 September 2022). "IDFC First Bank joins ONDC". mint. Retrieved 13 July 2023.
- ^ "IDFC First Bank joins ONDC — what does it mean for you?". cnbctv18.com. 7 September 2022. Retrieved 13 July 2023.
- ^ "IDFC Bank buys Grama Vidiyal Micro". BusinessLine. 25 July 2016. Retrieved 31 March 2024.
- ^ "IDFC Bank acquires Grama Microfinance". The Indian Express. 13 July 2016. Retrieved 31 March 2024.
- ^ 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.
- ^ Dixit, Pranav (29 April 2023). "IDFC FIRST Bank reports highest-ever profit at Rs 2,437 crore in FY23". Business Today. Retrieved 13 July 2023.
- ^ "IDFC: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of IDFC - NDTV". www.ndtv.com. Retrieved 12 December 2022.
- ^ Reporter, B. S. (30 June 2010). "IDFC sells shares worth Rs 2,654 cr". Business Standard India. Retrieved 12 December 2022.
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- ^ K.R.Srivats (7 March 2017). "IDFC Bank takes the lead, launches Aadhaar Pay". The Hindu Business Line. Retrieved 9 March 2017.
- ^ "IDFC Bank launches aadhaar-linked cashless merchant solution – The Economic Times". The Economic Times. Retrieved 17 January 2017.
- ^ "Capital First merges with IDFC Bank to create IDFC First Bank". Moneycontrol. 18 December 2018. Retrieved 12 December 2022.
- ^ 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.
- ^ Mint (19 January 2021). "IDFC First Bank to offer interest-free cash on credit cards". Retrieved 21 January 2021.
- ^ 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.
- ^ "IDFC FIRST Bank Limited". unglobalcompact.org. Retrieved 16 September 2024.
- ^ 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.
{{cite web}}
: CS1 maint: url-status (link) - ^ 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.
- ^ 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.
- ^ "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.
- ^ Sultana, Nasrin. "How Does IDFC First Stack Up Among India's Top 10 Most Valued Banks". Forbes India. Retrieved 14 September 2023.
- ^ Sonavane, Ravindra. "IDFC First joins elite club of 10 most valuable listed banks in India". Moneycontrol. Retrieved 14 September 2023.
- ^ Bureau, The Hindu (7 December 2023). "IDFC First Bank unveils UPI-based digital RuPay credit card". The Hindu. ISSN 0971-751X. Retrieved 26 December 2023.
{{cite news}}
:|last=
has generic name (help) - ^ Mishra, Arushi (6 February 2024). "Infibeam Avenue partners with IDFC First Bank". BusinessLine. Retrieved 29 February 2024.
- ^ Bureau, The Hindu (23 May 2024). "IDFC First Bank named 'class apart' in report". The Hindu. ISSN 0971-751X. Retrieved 4 June 2024.
{{cite news}}
:|last=
has generic name (help) - ^ "IDFC FIRST Bank launches Customer COVID relief Ghar Ghar Ration Program". Financialexpress. 11 June 2021. Retrieved 12 December 2022.
- ^ "IDFC First Bank Employees to Fund Covid Relief for Customers". Outlook Money. Retrieved 12 December 2022.
- ^ "Best Private Bank – Digital Innovation & Services". Asian Private Banker. Retrieved 29 February 2024.
- ^ marten (24 November 2019). "IDFC FIRST Bank: Most Promising New Bank India 2019". CFI.co. Retrieved 29 February 2024.
- ^ Bandyopadhyay, Tamal (2021). "INCLUSIVE FINANCE INDIA REPORT 2020 - An ACCESS Publication" (PDF). Water.org. Retrieved 29 February 2024.
- ^ "Most Trusted Brands Of India 2021". CNBCTV18. 1 April 2021. Retrieved 29 February 2024.
- ^ "Best for HNW in India 2021". Asiamoney. 15 June 2021. Retrieved 29 February 2024.
- ^ "FE BEST BANKS AWARDS: Rajeev Chandrasekhar to grace FE awards event today". Financialexpress. 16 October 2023. Retrieved 23 November 2023.
- ^ marten (26 October 2022). "IDFC FIRST Bank: Best Sustainable Banking Strategy India 2022". CFI.co. Retrieved 29 February 2024.
- ^ www.ETBFSI.com. "ET BFSI Awards 2022". ETBFSI.com. Retrieved 29 February 2024.
- ^ marten (22 November 2023). "IDFC FIRST Bank: Outstanding Commitment to ESG Performance (India) 2023". CFI.co. Retrieved 23 November 2023.
Further reading
- Biswas, Debasish; Pimpale, Nihal; Ashara, Konark (21 September 2017). "Connected by Design - Our Learnings from Designing Digital Profiler Journeys: IDFC Bank Digital Experience". Human-Computer Interaction – INTERACT 2017. Lecture Notes in Computer Science. Vol. 10516. Springer. pp. 340–343. doi:10.1007/978-3-319-68059-0_25. ISBN 978-3-319-68058-3.
- P. Andrews, Sneha; Gnanakumar, Baba. PC, Gita; Pradeep Kumar, John (eds.). A Study on the Fundamental Analysis of Selected Private Sector Banks Listed in NSE: HDFC Bank, IDFC First Bank, and Axis Bank. Virtual National Conference Spectrum Series 2020. Kristu Jayanti College and Bangalore Chamber of Industry and Commerce. p. 118. ISBN 978-81-949292-3-9 – via ResearchGate.
- Dhar, Santosh; Dhar, Upinder; Jaroliya, Pragya, eds. (2022). Reimagining Business Education and Industry in 2030. Allied Publisher. p. 24. ISBN 978-9390951-21-5.
- Mishra, Pooja; Guru Sant, Tatavarty (22 February 2024). "Examine the level of environmental, social and governance disclosure in sustainability report – a study of the Indian banking sector". International Journal of Innovation Science. 16 (2). Emerald Group Publishing: 420–442. doi:10.1108/IJIS-08-2022-0136. ISSN 1757-2223.
- Das, Ashish (May 2024). Benchmarking Reasonableness of Service Charges by Banks in India (Report). Indian Institute of Technology Bombay. doi:10.5281/zenodo.11453947 – via Zenodo.