Tag Archives: IDFC First Bank

The Reserve Bank of India (RBI) has taken strict regulatory action against IDFC First Bank and LIC Housing Finance, imposing penalties for non-compliance with certain norms. Additionally, the RBI has canceled the certificate of registration of four Non-Banking Financial Companies (NBFCs) and received voluntary surrenders from five other NBFCs.

IDFC First Bank is set to raise Rs 3,000 crore through a Qualified Institutional Placement (QIP) with a green shoe option, as its shares outperform its sector by a substantial margin.

Renowned investor Rajiv Jain's GQG Partners has purchased a 2.58% stake in IDFC First Bank for approximately Rs 1,527 crore, instilling optimism in the bank's prospects.