Development financial institution ( DFI ), also known as a Development bank , is a financial institution that provides risk capital for economic development projects on a non-commercial basis.
6-532: Infrastructure Development Finance Company Limited , more commonly known as IDFC , was a development finance institution based in India under the Department of Financial Services , Government of India . It provided finance and advisory services for infrastructure projects, as well as asset management and investment banking . The company was privatized by reverse merger with IDFC First Bank on 1 October 2024. IDFC
12-407: A company that provides loans for projects that a government or nonprofit wants to encourage for non commercial reasons. They can be at a local, national or international level. DFIs include multilateral development banks , national development banks , bilateral development banks, microfinance institutions , community development financial institution and revolving loan funds . DFIs can play
18-428: A crucial role in financing private and public sector investments in developing countries, in the form of higher risk loans, equity positions, and guarantees. DFIs often provide finance to the private sector for investments that promote development and to help companies to invest, especially in countries with various restrictions on the market. As of November 2020 , development banks and private finance had not reached
24-528: The IPO, despite that it still retains majority ownership. In May 2008, the company entered into asset management by acquiring the AMC business of Standard Chartered Bank in India, namely Standard Chartered Asset Management Company Pvt Ltd and Standard Chartered Trustee Company Pvt Ltd; the acquired companies were re-branded as IDFC Asset Management Company Pvt Ltd and IDFC AMC Trustee Company Pvt Ltd respectively. In 2008–09,
30-674: The company acquired 100% of the share capital of IDFC Capital (Singapore) Pvt Ltd. In the same year, the company established IDFC Foundation to focus on capacity building, policy advisory and sustainability initiatives. IDFC Bank started operating banking services on 1 October 2015. On 1 October 2024, IDFC Limited merged with the bank, with shareholders receiving 155 bank shares for every 100 IDFC Limited shares. Development finance institution DFIs are often established and owned by governments or nonprofit organizations to finance projects that would otherwise not be able to get financing from commercial lenders. They are often structured as
36-753: Was incorporated on 30 January 1997 by Government of India , with its registered office in Chennai , and started operations on 9 June 1997. In 1998 the company registered with the Reserve Bank of India (RBI) as a Non-Banking Financial Company (NBFC). In the year 1999 the company was notified as Public Financial Institution . In August 2005, the company's equity shares were listed on the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) after an initial public offering (IPO). Government of India cut down its ownership from 100% to 34.91% through
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