IDFC Ltd has won a banking licence as per a recent RBI announcement. A banking licence would provide a window to IDFC to access low-cost bank deposits and reduce reliance on high-cost term loans and, thus, help expand margins. The company was set up in 1997 as a specialised lender for big-ticket infrastructure project with long gestation period.
Tag: lender
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HDFC Bank hikes base rate by 0.2%
With effect from August 3, India's leading private sector lender HDFC Bank raised the base lending rate to 9.80 per cent from 9.60 per cent. The bank has reportedly raised interest rate on the back of RBI measures to contain volatility in rupee exchange rate and increase in short term deposit
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Federal Bank to set up 15K ATMs, hires Tata firm
To install 15,000 White-Label ATMs (WLAs) across India, private sector lender Federal Bank has tied up with Tata Communications, the Bank said on June 24. White-Label ATMs are to be set up by non-banking entities on behalf of 'sponsor banks' but they would not carry the brand label of any bank, and would be accessible to card-holders of all the banks for a fee.