IDFC First Bank gains on waiving charges on customer-centric services

IDFC First Bank is currently trading at Rs. 62.05, up by 0.10 points or 0.16% from its previous closing of Rs. 61.95 on the BSE.

IDFC First Bank
IDFC First Bank

The scrip opened at Rs. 62.35 and has touched a high and low of Rs. 62.45 and Rs. 61.35 respectively. So far 1135094 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 64.30 on 15-Dec-2022 and a 52 week low of Rs. 28.95 on 22-Jun-2022.

Last one week high and low of the scrip stood at Rs. 64.30 and Rs. 57.65 respectively. The current market cap of the company is Rs. 38774.61 crore.

The promoters holding in the company stood at 36.47%, while Institutions and Non-Institutions held 33.34% and 30.18% respectively.

IDFC First Bank has waived charges on a number of customer-centric services such as cash deposits, withdrawals, demand drafts, IMPS and SMS alerts, among others.

On the occasion of its Foundation Day on December 18, the Bank has announced ‘Zero-fee banking’ on savings accounts.

It has waived fees on 25 commonly used banking services related to savings accounts such as cash deposit and withdrawal at branches, third party cash transactions, demand drafts, IMPS, NEFT, RTGS, cheque book, SMS alerts, interest certificates, insufficient balance for ATM transactions, international ATM usage and so on.

Customers maintaining as low as Rs 10,000 average monthly balance and Rs 25,000 AMB in savings accounts will be offered these services free of cost.

This will benefit all customers, and particularly those with lesser financial literacy who find it difficult to compute the fees and charges.

IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.

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