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IDFC Bank Ltd. (Infrastructure Development Finance Company) is an
Indian banking company with headquarters in Mumbai that forms part
of IDFC, an integrated infrastructure finance company. The bank
started operations on 1 October 2015.[1] IDFC received a universal
banking license from the Reserve Bank of India (RBI) in July 2015.On
6th November, 2015, IDFC Bank was listed on BSE and NSE.

IDFC Bank.

Type Private Company

Traded as  BSE: 539437


Industry Banking, Financial services

Founded October, 2015

Headquarters Mumbai, Maharashtra, India

Key people Mr. Sunil Kakar (Nominee

Director - IDFC Ltd.)
Dr. Rajiv

Products Retail banking, Commercial &

Wholesale Banking,
Business Banking,
Bharat Banking

Number of employees 3906 (2017)


IDFC was incorporated on 30 January 1997 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 and in 1999 it formally became a Public Financial Institution.
To conform with RBI guidelines IDFC founded a non-operative financial
holding company (NOFHC) in 2014 to manage its five subsidiaries IDFC
Bank, IDFC MF, IDFC Alternatives, IDFC IDF & IDFC Securities. IDFC is
the holding company for NOFHC IDFC Projects Ltd and IDFC

IDFC Bank started operations with 23 branches in Madhya Pradesh,

Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and
Kolkata. 15 branches are in settlements with a population of less than
Prime Minister Narendra Modi formally inaugurated IDFC Bank on 19
October 2015
IDFC Bank was incorporated as a wholly owned subsidiary of IDFC on
October 21, 2014 under the Companies Act, 2013 having its registered
office at KRM Tower, 8th Floor, No.1 Harrington Road, Chetpet, Chennai
- 600 031, after in-principle approval to set up a new bank in the
private sector was granted to IDFC by the RBI on April 9, 2014.
Subsequently, pursuant to the Scheme of Demerger we have issued
equity shares and currently our Bank is a subsidiary of IDFC FHCL
which holds 53% of our Bank {Equity share capital}.

IDFC Bank has been established as a public limited company to carry

out the business of banking. IDFC Bank have started our banking
operations from October 1, 2015 after receipt of final banking license
from the RBI. Our Bank has three business verticals namely
Commercial and Wholesale banking, Rural banking, Personal and
Business banking. The majority of the branches will be in rural India
and the quality of customer service and digital banking will be the
primary focus of our Bank.


Date of Incorporation 21-OCT-2014
Date of Listing 06-NOV-2015

Name Designation
Veena Mankar Chairperson [NonExe.&Ind.Director]
Avtar Monga COO & Executive Director
Abhijit Sen Independent Director
Ajay Sondhi Independent Director
Anand Sinha Independent Director
Rajan Anandan Independent Director
Rajiv B Lall Managing Director & CEO
Anindita Sinharay Nominee Director

Core services :
Features of the App:
a. MPIN: We understand that typing complicated password is a hassle, and that’s the reason
we are now giving you the choice to use a 4-digit MPIN, which is faster and secure.

b. Fingerprint: Your Fingerprint is your new password. For the customers watching ads on
how awesome it is to use your Fingerprint, this if for YOU!

c. Notification: We will now notify you on the offers which are important for you, so you
don’t miss out on the action.

d. OTP Reading: We’ve made OTP reading on the App simple, so that we can read and
enter it for you. Don’t worry it’s only the OTP, we read nothing else – Only In Android

e. 3D Touch: Use the iPhone 3D touch facliity to get quick access to some important
transactions directly from the home screen. The feature is available only in 3D touch
compatible iPhones

f. Scan & Pay: From ‘Go Cashless’ to ‘Go Cardless’! Click Scan & Pay option to make
payments to merchants displaying Bharat QR code.

Individual Banking—Banks typically offer a variety of services to assist individuals in

managing their finances, including:

 Checking accounts

 Savings accounts

 Debit & credit cards

 Insurance

 Wealth management

Business Banking— Most banks offer financial services for business owners who need to
differentiate professional and personal finances. Different types of business banking services

 Business loans

 Checking accounts

 Savings accounts

 Debit and credit cards

 Merchant services (credit card processing, reconciliation and reporting, check collection)
 Cash management (payroll services, deposit services, etc.)

Digital Banking—The ability to manage your finances online from your computer, tablet, or
smartphone is becoming more and more important to consumers. Banks will typically offer
digital banking services that include:

 Online, mobile, and tablet banking

 Mobile check deposit

 Text alerts

 eStatements

 Online bill pay

Loans—Loans are a common banking service offered, and they come in all shapes and sizes.
Some common types of loans that banks provide include:

 Personal loans

 Home equity loans

 Home equity lines of credit

 Home loans

 Business loans


Besides the great features that we have to offer, here’s a list of all the transactions you can do on
the app, once you login.

1. View all your accounts & email your account statements

2. Deposits

a. Fixed Deposits

a.i. Create Fixed Deposits

a.ii. View FD summary & email FD Advice

a.iii. Close Fixed Deposits

b. Recurring Deposits

b.i. Create Recurring Deposits

b.ii. View RD summary & email RD Advice

b.iii. Foreclose Recurring Deposits

3. Debit Cards

a. We offer you one view of all your linked debit cards

b. Permanently block your card if you have lost your card and also request for a

c. Temporarily block your card in case you have misplaced your card

d. Unblock your temporarily blocked card once you find it

e. Set your daily withdrawal and purchase limits both domestic and international
within preset limits.

4. Bill Payments & Recharge

a. Add Biller: Register your bill for presentment & payment

b. View/Pay Bills: View & Pay all your bills

c. Delete Biller: Delete any bills that you don’t want to pay anymore

d. QuickPay: Bill payment without registration

e. Recharge your prepaid mobile & DTH account

f. Transaction History: View bill payments done in the past six months in
Transaction History

g. Setup Auto Pay for your recurring bills

5. Transfer Funds

a. To your own IDFC Bank Accounts

b. To other IDFC Bank Accounts / Non IDFC Bank Accounts

c. You can even make Credit Card payments using our Funds transfer service

6. Home Loan

a. Check your Loan summary and other details

b. Check your Loan statement and also you can get it emailed to your registered
email id

c. Know your future payments under Repayment schedule

d. And lastly check your interest certificate on how much you have to pay and how
much you have paid till date.

7. Short & Sweet Home loan accounts

a. All customers that own a Short & Sweet home loan & a Current / Savings account
can now view their loan account summary & carry out all the transactions
currently offered on Internet Banking using their Short & Sweet loan account.

b. View, download, email account statements

c. Funds transfer

d. Create, view & close deposits

e. Update profile

f. Check Loan Summary and details

g. Check Loan Repayment schedule

8. Personal Loan

a. Loan Summary

b. Loan Statement of Account

c. Repayment schedule

9. Loan Against Property

a. Loan Summary

b. Loan Statement of Account

c. Repayment schedule

10. Service Requests

a. Cheque book request

b. Email modification

c. Nomination addition

d. Pan update

e. Aadhar update
11. Change your Passwords including

a. Internet Banking Password / MPIN

b. Debit Card Pin

Consumer relationship systems (CRS) are specialized customer relationship
management (CRM) software applications that are used to handle a company's dealings with its

Current consumer relationship systems integrate the software with telephone and call recording
systems as well as with corporate systems for input and reporting. Customers can provide input
from the company's website directly into the CRS. These systems are popular because they can
deliver the 'voice of the consumer' that contributes to product quality improvement and that
ultimately increases corporate profits.[1]

Consumer relationship systems that provide automated support as well as advanced systems may
have artificial intelligence (AI) interfaces that can extract and analyse data collected, or handle
basic questions and complaints


IDFC Bank Home Loan Interest Rate Calculator - Aug 2017

Last Updated 09th Aug 2017

IDFC Bank Home Loan Interest Rates

Interest Rate 8.55% - 8.85%

Lowest EMI Rs. 772 per lakh

Max Tenure 30 years

Processing Fee Upto 0.50%

Minimum Rs. 5,000 Maximum Rs.

Prepayment, Foreclosure Allowed with nil charges for floating

Charges rate loans

Age Min 21 and Max 60 years for Salaried

Min 21 and Max 65 years for Self
IDFC Bank Eligibility Criteria

IDFC Bank has detailed criteria to determine a potential borrower’s eligibility for housing
loans. Some of the key criteria are:

IDFC Bank Home Loan Eligibility Criteria

Age 21 - 60 years

Job Stability in case of Salaried (in years) 2 years

Minimum Credit Score 650 and above

Loan Amount Rs. 1,000,000 to Rs. 100,000,000

Loan to Value Ratio Upto 85%

FOIR (Fixed Obligations to Income Ratio) Up to 0.65

Card Rates for Deposits Less than INR 1 Crore*
7,2016 Less than INR 1 Crore
7-14 Days 4.00%
15-29 Days 5.00%
30-45 Days 6.25%
46-60 Days 6.50%
61-90 Days 6.50%
91-180 Days 6.75%
181-270 Days 7.00%
271-365 Days 7.00%
366 Days 7.50%
367-400 Days 7.25%
401-540 Days 7.25%
541-731 Days 7.25%
732-1095 Days 7.20%
3 Years 1 Days – 5years 7.20%
5 Year 1 Day – 8 Years 7.20%
8Year 1Day- 10 Years 7.20%


7,2016 Less than INR 1 Crore
5 Years 7.20%


BALANCE RS. (Crore) RATE OF INTEREST (%P.A.) W.E.F. December

7,2016 Less than INR 1 Crore
Up to 1 Crore 4.00%
1 Crore to 10 Crores 5.00%
10 Crore and above 6.00%

Base rate

IDFC Bank’s Base Rate effective from Julyn1,2016 is 9.50%

The Gujarat State Co operative Bank Ltd.
Introduction to The Gujarat State Co operative Bank Ltd.
The Gujarat State Cooperative Bank was established in year 1960 and registered under the
Gujarat State Cooperative Societies Act 1961. The Bank is already enjoying the status of a
Scheduled Bank and having requisite Banking License. Nearly 28 Lacs farmers of 8100 PACS
affiliated with GSCB through 17 DCCBs and a co operative banking union are enjoying credit
facilities. GSCB has a consistent history of receiving awards from NAFSCOB for its best overall
performance and corporate governance . It has been receiving such awards in the past as well as
for last four consecutive years.
It has also received the award as the Institution among the Best Performing Co-operative
Organisation from the National Co-operative Union of India New Delhi.

Farmer’s Hostel
Specially for Gujarat Farmers who visit to Ahmedabad or Gandhinagar for their routine or
special work, Bank has establish a Farmers Hostel having 58 rooms with capacity of 300 persons
with in house catering facility at a concessional rate. By establishing / providing such facility
Bank’s aim is to provide affordable accommodation in Ahmedabad city to the farmers.


Highlights of Agricultural Initiatives
Agricultural loans @ 7 %
Only 3 DCCBs were in a position to finance ST SAO loans to farmers up to Rs 3 lacs @ 7% as
per Central Govt Directives. GSCB vigorously took up with the State Govt to provide additional
2% Interest Subvention to the farmers . State Govt accepted this proposal as a result of which,all
the DCCBs are in a position to provide ST SAO loans to farmers @ 7%. The efforts of this bank
have resulted in such assistance of Rs 123 crores. Today Short term agriculture credit facilities
reaches to more than 28 lacs farmers of the state @ 7% against which interest subvention is
provided @ 3% Thus, the concerned prompt paying farmers are enjoying agriculture credit
facilities @ 4% interest with GSCB initiatives .
Awareness for farmers & PACS by Stalls and Shibirs
Stalls were organized by GSCB during Vibrant Gujarat and Agritech Global Summits, which
were visited by the farmers, PACS officials, other bankers and general public from all the corners
of the state. Information relating to various credit facilities available through the co. op. credit
structure,planting the appropriate crops, modern and new farming techniques for raising the
quantum and quality of the produce, related occupations, new equipment’s and machines / tools,
assistance schemes, ‘sakhi mandals’ , self help groups was imparted personally and through
small booklets/pamphlets in these stalls

Educational / Training Seminars

Educational / Training Seminars are organized for staff and office bearers of DCCBs, PACS and
UCBs. on various important subjects like KYC, ALM, PMLA, Forged Notes, BASEL II & III,
NPA- Recovery, Deposits, Advances, CTS, CIBIL, Motivation and on guidelines issued by
NABARD / RBI guidelines / changes in banking parameters, agricultural development and
related plans . 32 such training seminars / CEO meetings were organized by the bank and
informative books / study material was distributed to the participants. Special training programs
are also being held for Chairman &Secretaries of PACS, approx 8100 PACS are covered under
this training.

Other Activities by The GSC Bank Ltd.

Self Help Groups / Sakhi Mandal
Agricultural Advances Economic backward class people of the society who could not approach
bank individually for their different financial needs. They formed the groups of members and
linkage with the bank. The group collects the saving of members and keep deposit with the bank.
The DCCBs provide their financial needs. In addition to that, this three tier Co-Operative
structure implements the State Govt. ‘Sakhi Mandal’ programs for economic / social backward
class women.
DCCBs & Urban Banks
Agricultural Advances The DCCBs have to maintain Statutory Liquidity Reserve (SLR) @ 25%
of their Time & Demand Liabilities (DTL) as per B.R. Act, 1949. The deposits of DCCBs with
this bank are considered as their SLR investment.
Khedut Shibir
The Apex Bank and the DCCBs jointly organize the Khedut Shibirs to guide farmers and
members of PACS regarding the new crops, new farming techniques, their problems of farming
and investment credit for their farming

Savings and Recurring Deposit Rates

Savings Deposit Rate: 4.0%
Recurring deposit rates applicable as per term deposit rates

Fixed Deposit Rates (W. E. F. 14/03/2017)

07 Days to 45 Days 5.00% 5.00% 5.00% 5.50%
46 Days to 90 Days 6.00% 6.00% 6.00% 6.50%
91 Days to 179 Days 6.50% 6.50% 6.50% 7.00%
180 Days to 269 Days 6.50% 6.50% 6.50% 7.00%
270 Days to 364 Days 6.00% 6.00% 6.00% 6.50%
12 Months (365 Days) 7.00% 7.00% 7.00% 7.50%
366 Days to 24 Month 6.90% 6.90% 6.90% 7.40%
6.75% 6.75% 6.75% 7.25%

For Banks, PACs, Other Institutions (W. E. F. 14/03/2017)*

07 Days to 45 Days 5.00% 5.00% 5.00%
46 Days to 90 Days 6.00% 6.00% 6.00%
91 Days to 179 Days 6.50% 6.50% 6.50%
180 Days to 269 Days 6.50% 6.50% 6.50%
270 Days to 364 Days 6.00% 6.00% 6.00%
12 Months (365 Days) 6.60% 6.60% 6.60%
366 Days to 24 Months 6.75% 6.75% 6.75%


PRODUCT Maximum Loan Amount Interest Rate Term [Years]
Home Loan 3000000 9.90% 20
Two Wheeler 1000000 10.50% 5
Car Loan 3000000 9.90% 7
Used Car [Not more than 5 500000 11.50% 5
year old]

Security [Mortgage] 3000000 12.00% 15 Years for Loan

Loan/Overdraf 1 Year for O.D.

Higher Education Loan 2000000 9.90% 10

Housing Extension Loan 3000000 10.50% 15
Working Capital 6000000 12.00% 1
Consumer Durable Goods 100000 11.95% 3

Life Policy 6000000 10.50% Upto Maturity of

Commercial Vehicle 4000000 11.90% 7
Commercial Loan 6000000 12.00% 15

Comparison between IDFC Bank v/s Gujarat State Cooperative Bank


COMPARISON Cooperative Bank
Governing Act Banking Regulation Act, 1949 Cooperative Societies Act, 1965

Main function Accepting deposits from public Accepting deposits from

and granting loans to individuals members and the public, and
and businesses. granting loans to farmers and
small businessmen.

Area of operation Large Small

Motive of operation Profit Service

Borrowers Account holders Member shareholders

Banking service Offers an array of services. Comparatively less variety of

Interest rate on deposits Less Slightly higher

The bank, which operates for taking deposits from and making loans to the public is a commercial bank.
On the other hand, cooperative banks are mainly established to provide financial support to small
businessmen and farmers at the low rate of interest. The big difference between these two terms is that
while the network of former is very large whereas the network of the latter is confined to a limited area