Infrastructure Development Financing Company (IDFC). Ltd became 2nd lender to enter the banking sector since 2004, as the Reserve Bank of India granted Banking licence on 24 July 2015.Yes Bank has the 1st bank to got the banking licence in 2004. However, IDFC & Microfinance Company Bandhan Financial Services Private Limited were granted preliminary bank permits by RBI in April 2014 and Bandhan got Banking licence from RBI in June 2015.Where as IDFC plans to start operations from 1st October 2015. IDFC pvt ltd. will start its operations with 20 branches and with initial loan book of 55,thousand crore rupees.
About IDFC Pvt. Ltd:
IDFC is a leading public limited infrastructure finance company that provides end to end infrastructure financing or project implementation services.IDFC was incorporated in 1997 with main motive to provide finance for infrastructure projects and advisory services for asset management or investment banking.Its independent director is ex Comptroller and Auditor General of India Mr. Vinod Rai.
IDFC became 2nd lender to enter the banking sector and gets banking licence from RBI
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