IFBL’S Evolution
History
IDFC FIRST Bharat Limited, is a wholly owned subsidiary company of IDFC FIRST Bank. The company acts as a Business Correspondent for IDFC FIRST Bank.
About Us
IDFC FIRST Bharat Limited, is a Wholly owned Subsidiary of IDFC FIRST Bank. The Company acts as a Business Correspondent (BC) for IDFC FIRST Bank.
With a legacy of over 35 years, IDFC FIRST Bharat Limited (IFBL) focusses on serving customers across rural and semi-urban locations. The Company intends to bring Financial Services to these customers which are otherwise not accessible or available. The Company offers a variety of Loan Products like Group Loans, Micro Enterprise Loans, Micro Housing Loans, Two-Wheeler Loans, Commercial Vehicle Loans, Consumer Durable Loans, Gold Loans, Housing Loans, Loan against property, Tractor Loans, Insurance and is adding more to this. The company operates in 10 States serving more than 2.5 million Households through a team of more than 13572 employees.
IDFC FIRST Bharat Limited (IFBL) has its origins from Grama Vidiyal (GV) which was established as a Public Charitable Trust in 1986. In the year 2003, Grama Vidiyal Micro Finance limited (GVMFL) was formed and it became one of the largest Microfinance Institutions in the country. The Institution was known for its double bottom line approach focusing on the sustainability of financial inclusion programmes and the development of Women and their Families.
On October 13th, 2016, IDFC Bank acquired Grama Vidiyal Microfinance Limited (GVMFL) and made it as its Wholly owned Subsidiary and renamed it as IDFC Bharat Limited. This acquisition enabled IDFC Bharat Limited to operate as a dedicated Business Correspondent (BC) of IDFC Bank. After the merger of Capital First Limited with IDFC Bank , IDFC Bharat Limited has been renamed as IDFC FIRST Bharat Limited.
OUR VISION
IDFC FIRST Bharat will augment IDFC FIRST Bank’s Vision “To build a world class bank in India guided by ethics, powered by technology, and be a force for social good”.
OUR Mission
We want to transform the lives of millions of Indians in a positive way by providing affordable high-quality banking products and services to them.
Our Values
Customer Focussed
Accountability
Collaborative
Trust
Transparency
