Home   »   Banking Current Affairs 2023   »   IDFC FIRST Bank Partners with Mumbai...

IDFC FIRST Bank Partners with Mumbai Indians as Official Banking Partner

IDFC FIRST Bank Partners with Mumbai Indians as Official Banking Partner_40.1

IDFC FIRST Bank Partners with Mumbai Indians

IDFC FIRST Bank, a private sector bank in India, has become the official banking partner of the Mumbai Indians, a franchise cricket team that competes in the Indian Premier League (IPL). As the official banking partner, IDFC FIRST Bank will provide a range of financial products and services to Mumbai Indians and its players, including banking solutions, credit cards, and digital banking services.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

About the partnership

  • This partnership will also enable IDFC FIRST Bank to engage with the Mumbai Indians’ extensive fan base across India and leverage the team’s brand to increase its visibility and reach. The partnership is expected to be mutually beneficial for both parties, helping them to strengthen their brand positioning and achieve their business objectives.
  • The partnership between IDFC FIRST Bank and Mumbai Indians brings together two strong brands that share a commitment to values, ethical practices, social responsibility, and digital innovation. Both brands have built a loyal fan base through marketing campaigns and unique offerings, with IDFC FIRST Bank focusing on customer-first solutions and Mumbai Indians playing for their fans.

About the IDFC FIRST Bank

  • IDFC FIRST Bank has become the first universal bank in India to offer customer-friendly services such as Monthly Interest Credits on Savings Account, zero charges on all Savings Account Services, and lifetime free Credit Cards with never-expiring reward points. Meanwhile, Mumbai Indians is a successful cricket franchise with a global following and seven championship titles.
  • The history of IDFC FIRST Bank can be traced back to 1997 when Infrastructure Development Finance Company (IDFC) was established as a specialized financial institution to finance infrastructure projects in India. In 2015, IDFC received a banking license from the Reserve Bank of India and set up IDFC Bank.
  • In January 2018, IDFC Bank announced its plans to merge with Capital First, a non-banking finance company (NBFC) that specialized in consumer lending. The merger was completed in December 2018, and the newly merged entity was named IDFC FIRST Bank.
  • The merger brought together the expertise of IDFC Bank in wholesale and corporate banking and the strong retail lending capabilities of Capital First. As a result, IDFC FIRST Bank became a universal bank with a presence across retail, corporate, and wholesale banking segments.
  • Today, IDFC FIRST Bank has a wide network of branches and ATMs across India and offers a range of financial products and services to its customers, including savings and current accounts, fixed deposits, loans, credit cards, and insurance products. The bank is committed to providing innovative and customer-centric solutions and has a strong focus on digital technology.

Important takeaways for all competitive exams: 

  • IDFC FIRST Bank Headquarters: Mumbai;
  • IDFC FIRST Bank CEO: V. Vaidyanathan (19 Dec 2018–);
  • IDFC FIRST Bank Parent organization: Infrastructure Development Finance Company;
  • IDFC FIRST Bank Founded: October 2015.

You may also read this:

Find More News Related to Banking

IDFC FIRST Bank Partners with Mumbai Indians as Official Banking Partner_50.1

IDFC FIRST Bank Partners with Mumbai Indians as Official Banking Partner_60.1

Leave a comment

Your email address will not be published. Required fields are marked *