PES UNIVERSITY

(Established under Karnataka Act No 16 of 2013)

100ft Ring Road, Bengaluru-560 085, Karnataka, India

A Internship report on

‘IDFC FIRST BANK LTD – ORGANISATIONAL STUDY’

Submitted by
R Siddharth
PES1UG19BB122

Under the guidance of

Internal guide

Prof. Priya Vaz

Assistant Professor
Department of BBA
PES University
Bangalore 560085

1
Dept. of. BBA June – July 2021
 FACULTY OF MANAGEMENT STUDIES
DEPARTMENT OF BBA
PROGRAM BBA

CERTIFICATE

This is to certify that the Internship work

‘IDFC FIRST BANK LTD – ORGANISATIONAL STUDY’

Is a Bona fide work carried out by

R Siddharth
PES1UG19BB122

In partial fulfillment for the completion of Internship work in the Program of Study BBA under rules and
regulations of PES University, Bangalore during the period June 2021- July 2021. It is certified that all
corrections/suggestions indicated for internal assessment have been incorporated in the report. The Internship
report has been approved as it satisfies the academic requirements in respect of Internship work.

Signature with date & Seal Signature with date & Seal Signature with date & seal
Internal Guide Chair person Dean of Faculty

Name of the student: R Siddharth

SRN: PES1UG19BB122

2
Dept. of. BBA June – July 2021
 ACKNOWLEDGEMENT:

I am personally thankful to my university for giving me the opportunity to do my organization

study at a place IDFC FIRST BANK, Bengaluru. It has given me exposure and great
knowledge about various departments. It has truly given me the analytical experience which
helped me to grasp and relate to the theoretical knowledge much better.

I would like to thank the Vice Chancellor Dr. J Surya Prasad, Dean FOM Dr. Shailshree
Haridas. Also, I would like to thank my internal guide Prof. Ashwini B R for guiding me and
throwing light on the areas to focus on throughout my internship journey. Lastly, I would like
to thank my parents and friends for supporting and walking with me through my internship
journey.

3
Dept. of. BBA June – July 2021
INTERNSHIP REPORT GUIDE LINES
1. Paper : A4 size, Executive Bond Papers Only
2. Margin : left→ 1.25’’, right → 0.75’’/1.0’’, top & bottom →0.75’’
3. Font : Heading :Size→ 18;
Style → TIMES NEW ROMAN
Content :Size→ 14;
Style → TIMES NEW ROMAN
4. Line Spacing : 1.5 line spacing
5. Border to the page is a must.
6. Header : Left → “Title” Right → “PESU logo”
7. Footer : Left → Dept. Of BBA Center → June – July 2021 Right → Page number
8. Binding : Hard Bound

4
Dept. of. BBA June – July 2021
 Contents of Internship Report

PRELIMINARY PAGES
• Cover Page
• Declaration of the Student
• Certificate from the College
• Certificate from the Guide • Acknowledgements • Table of Contents • List of Tables • List of
Graphs
---------
1. Introduction
• Introduction to study • Objectives of the study • Need of the study • Scope of the study •
Sources of data • Limitations of the study
2. Industry Profile
3. Company Profile
4. Functional Departments (Any Two)
Production Department
Human Resource Department
Finance Department
Marketing Department
5. SWOT Analysis
6. Findings &Suggestions
7. Conclusions
8 Learning Experience ---
Bibliography ----- ----
Annexures/Enclosures (if any)

5
Dept. of. BBA June – July 2021
 6
Dept. of. BBA June – July 2021
INTRODUCTION TO THE STUDY

The Organisational studies, sometimes known as organisational science, encompass the

systematic study and careful application of knowledge about how people act within
organisation. Whenever people interact in organisations, many factors came into play.
It refers to the study of organisation as a whole and getting adequate knowledge with various
departments in the organisation.
It is a training program that helps the management students gain knowledge and practical
working conditions of an organisation.

The study was carried out at IDFC FIRST BANK LTD. This study is based on the different
aspects and dimensions of different departments of the company.

SCOPE OF THE STUDY

The organisation study at IDFC FIRST BANK LTD aims at getting accustomed to the
business of IDFC. The study will be conducted to understand the structure, function and
process of various departments and their interdependence.
This company was selected for study due to high brand image and fame of its services.
The main purposes of doing the organisation study was to study the various departments of the
organisation and understand their basic function their purpose, achievements, competitors and
the mission and vision of the company and their progress towards that.

OBJECTIVES OF THE STUDY

The organisational study was carried out at Larsen and Toubro InfoTech Ltd, to achieve the
following specific objectives
• To understand the organisational framework and it’s functioning.
● To gain knowledge about different departments of the organisation and the function.

7
Dept. of. BBA June – July 2021
LIMITATIONS OF THE STUDY

To understand the organization and study its various functions and ups and downs a period of
30 days is not enough.
• No direct contacts with department are not allowed.
• Due to Pandemic situation, we are not able to accurate information.
• Access to many of the important documents or the key areas was not allowed.

SOURCES OF DATA COLLECTION

➢ Primary Data
Due to COVID 19 pandemic situation we are not allowed to visit the organisation, hence there
is no primary data collected by us.
➢ Secondary Data This is a method by which we collect data that is already being collected
by someone else. And which have already being through statistical methods. This type of data
may not be so accurate because it is not collected by us directly. So collecting data through
secondary method should be very careful. But this is much easier method than primary data
collection.

This study has used from the following:

1. Journals and Magazines
2. Existing records in the company website
3. Annual reports

8
Dept. of. BBA June – July 2021
IDFC FIRST BANK

INTRODUCTION
IDFC First Bank (formerly IDFC Bank) is an Indian private sector bank that forms part
of IDFC, an integrated infrastructure finance company. The bank started operations on 1
October 2015, after receiving a universal banking licence from the Reserve Bank of
India (RBI) in July 2015. It is listed on BSE and NSE.

About IDFC Bank

IDFC Limited was set up in 1997 to finance infrastructure focusing primarily on project
finance and mobilization of capital for private sector infrastructure development. Whether it is
financial intermediation for infrastructure projects and services, whether adding value through
innovative products to the infrastructure value chain or asset maintenance of existing
infrastructure projects, the company focused on supporting companies to get the best return on
investments. The Company’s ability to tap global as well as Indian financial resources made it
the acknowledged experts in infrastructure finance.

Dr. Rajiv Lall joined the company in 2005 and successfully expanded the business to Asset
Management, Institutional Broking and Infrastructure Debt Fund. He applied for a commercial
banking license to the RBI in 2013. Owing to his efforts, in 2014, the Reserve Bank of India
(RBI) granted an in-principle approval to IDFC Limited to set up a new bank in the private

9
Dept. of. BBA June – July 2021
sector. Thus Erstwhile IDFC Bank was created by demerger of the infrastructure lending
business of IDFC to IDFC Bank in 2015.

The parent entity, IDFC Limited, retained businesses of AMC, Institutional Broking and
Infrastructure Debt Fund business through IDFC Financial Holding Company Limited
(NOFHC). The shares of Erstwhile IDFC Bank Limited were listed in the exchanges in
November 2015. During the subsequent three years, the bank developed a strong and robust
framework including strong IT capabilities and infrastructure for scaling up the banking
operations. The Bank designed efficient treasury management system for its own proprietary
trading, as well as for managing client operations. The bank diversified from being a
predominantly infrastructure financier to wholesale banking operations. Since a large portion
(90%) of the bank was wholesale (infrastructure and corporate loans) as a legacy from IDFC
Limited until 2017, the company swiftly put together a strategy to retailise its loan book.
Retail required specialized skills for the marketplace, seasoning, and scale for profitability, the
Bank was looking for a retail lending partner who already had scale, profitability and
specialized skills, to merge with.

About Capital First

Around the same time (2010-2017), while these events were playing out at IDFC Group,
certain events were playing out in parallel at Capital First. Mr Vaidyanathan who had built
ICICI Bank’s Retail Banking business from 2000-2009 and was the MD and CEO of ICICI
Prudential Life Insurance Company in 2009-10, quit the group for an entrepreneurial foray.
During 2010-11, he acquired a significant stake in a listed real-estate financing diversified
NBFC and then prepared the ground for a Leveraged Management Buyout of the firm by
exiting many businesses like Forex subsidiary, broking subsidiary, real estate financing, and
instead launching retail financial businesses for small entrepreneurs and consumers. He built a
technology-driven retail loan book of Rs. 770 Cr by March 2011, and presented this as proof
of concept to global private equity players for a management Buyout. In 2012, he concluded

10
Dept. of. BBA June – July 2021
India’s largest Management Buyout by securing equity backing of Rs. 810 Crores from
Warburg Pincus, got fresh equity into the company and founded Capital First as a new entity
with new shareholders, new Board, new business lines, and fresh equity infusion.

Between March 31, 2010 to March 31, 2018, the Company’s Retail Assets under
Management increased from Rs. 94 crores to Rs. 25,243 Cr. The company financed seven
million customers through new age technology models. The credit rating increased from A+ to
AAA. The Gross and Net NPA reduced from 5.28% and 3.78% respectively to 2% and 1%
respectively and the asset quality remained consistently high. Further, the company turned
around from losses of Rs. 30 crores and Rs. 32 crores in FY 09 and FY 10 respectively, to Rs.
327 crores by 2018, representing a 5 year CAGR increase of 56%. The loan assets grew at a 5
year CAGR of 29%. The ROE steadily rose from losses in 2010 to near 15% by 2018. The
market cap of the company increased ten-fold from Rs. 780 crores on in March 2012 at the
time of the LBO to over Rs. 7800 crores in January 2018 at the time of announcement of the
merger. Funding could be a constraining factor for continued growth, so the company was
looking out for a banking license.

HISTORY
In 2014, the Reserve Bank of India granted an in-principle approval to IDFC Limited to set up
a new bank in the private sector. Following this, the IDFC Limited divested its infrastructure
finance assets and liabilities to a new entity - IDFC Bank. The bank was launched through this
demerger from IDFC Limited in November 2015.

IDFC Bank started operations in 19 October 2015, with 23 branches in Madhya

Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and Kolkata. It
has more than 600 branches across India till 2021. 15 branches are in settlements with a
population of less than 10,000. IDFC Bank launched its 100th branch in Honnali, Karnataka,
in October 2017.

11
Dept. of. BBA June – July 2021
In January 2018, IDFC Bank and non-banking financial company Capital First announced a
merger. Shareholders of Capital First were to be issued 13.9 shares of the merged entity for
every 1 share of Capital First. IDFC First Bank was founded as a new entity on December 18,
2018.

History of IDFC Bank

IDFC Limited was set up in 1997 to finance infrastructure, focusing primarily on project
finance and mobilization of capital for private sector infrastructure development. Whether it is
financial intermediation for infrastructure projects and services, whether adding value through
innovative products to the infrastructure value chain or asset maintenance of existing
infrastructure projects, the company focused on supporting organisations to get the best return
on investments. The Company’s ability to tap global as well as Indian financial resources
made it the acknowledged experts in infrastructure finance. Dr. Rajiv Lall joined the company
in 2005 and successfully expanded the business to Asset Management, Institutional Broking,
and Infrastructure Debt Fund. He applied for a commercial banking license to the RBI in
2013. In 2014, the Reserve Bank of India (RBI) granted an in-principle approval to IDFC
Limited to set up a new bank in the private sector. Following this, the IDFC Limited divested
its infrastructure finance assets and liabilities to a new entity - IDFC Bank- through demerger.
Thus, IDFC Bank was created by demerger of the infrastructure, lending business of IDFC to
IDFC Bank in 2015.

The bank was launched through this demerger from IDFC Limited in November 2015. During
the subsequent three years, the bank developed a strong and robust framework including
12
Dept. of. BBA June – July 2021
strong IT capabilities for scaling up the banking operations. The Bank designed efficient
treasury management system for its own proprietary trading, as well as for managing client
operations. The bank started building Corporate banking businesses. Recognizing the change
in the Indian landscape, emerging risk in infrastructure financing, and the low margins in
corporate banking, the bank launched retail business for assets and liabilities and put together
a strategy to retailize its loan book to diversify and to increase margins. Since retail required
specialized skills, seasoning, and scale, the Bank was looking for inorganic opportunities for
merger with a retail lending partner who already had scale, profitability and specialized skills.

History of Capital First

Mr. Vaidyanathan who had built ICICI Bank’s Retail Banking business from 2000-2009 and
was then the MD and CEO of ICICI Prudential Life Insurance Company in 2009-10, He quit
the group for an entrepreneurial foray to acquire a stake in an existing NBFC with the stated
intent of converting the NBFC to a commercial bank financing small businesses. During 2010-
12, he acquired a significant stake in a real-estate financing NBFC through personal leverage,
and launched businesses of financing small entrepreneurs and consumers. The NBFC wound
down existing businesses and instead started businesses of financing such segments within
consumer and micro-entrepreneurs that not financed by existing banks, by using alternative
and advanced technology led models. He built a prototype for such financing (Rs 12000-Rs.
30,000, ~$300- $500), built a loan book of Rs. 770 crores ($130m, March 2011) within a year,
and presented the proof of concept to many global private equity players for a Leveraged
Management Buyout. In 2012, he concluded India’s largest Leveraged Management Buyout,
got fresh equity of Rs. 100 crores into the company and founded Capital First as a new entity
with new shareholders, new board, new business lines, and fresh equity infusion.
13
Dept. of. BBA June – July 2021
Between March 31, 2010 to March 31, 2018, the Company’s Retail Assets under Management
increased from Rs. 94 crores ($14m) to Rs. 29,625 crores ($4.3 b, Sep 2018). The company
financed seven million customers for Rs. 60,000 crores ($8.5b) through new age technology
models. The company turned around from losses of Rs. 30 crore and Rs. 32 crores in FY 09
and FY 10 respectively, to PAT of Rs. 327 crores ($ 4.7b) by 2018, representing a 5-year
CAGR increase of 56%. The loan assets grew at a 5-year CAGR of 29%. The ROE steadily
rose from losses in 2010 to 15% by 2018. The market capitalization of the company increased
ten-fold from Rs. 780 crores in March 2012 at the time of the MBO to over Rs. 8,282 crores in
January 2018 at the time of announcement of the merger. As per its stated strategy, the
company was looking out for a banking license to convert to a bank.

Headquartered in Mumbai IDFC Bank is a universal bank offering financial solutions through
its nationwide branches Internet and mobile. IDFC Bank offers basic services like Savings
Accounts NRI Accounts Fixed Deposits Home Loans Personal Loans among others using
technology and a service-oriented approach to make banking simple and accessible anytime
and from anywhere. The bank provides customized financial solutions to corporates
individuals small and micro enterprises (SMEs) entrepreneurs financial institutions and the
government. IDFC Bank is a subsidiary of IDFC Ltd. As on March 31 2021 the Bank has built
a national footprint through the operation of 596 branches592 ATMs and 85 recyclers across
the country. IDFC was granted an in-principle approval by Reserve Bank of India (RBI) on 9
April 2014 to set up a new bank in the private sector under Section 22 of the Banking

14
Dept. of. BBA June – July 2021
Regulation Act 1949. Accordingly a new company namely IDFC Bank with a paid up capital
of Rs 5 lakh was incorporated on 21 October 2014 at Chennai Tamil Nadu under the
Companies Act 2013 to carry out the business of banking. As per the terms and conditions
contained in the in-principle approval and the RBI New Banking Guidelines IDFC was
required to transfer Financing Undertaking to IDFC Bank. Accordingly the Board of Directors
of IDFC at its meeting held on 30 October 2014 approved a proposal to demerge its Financing
Undertaking into its wholly owned step down subsidiary - IDFC Bank under a Demerger
Scheme. On December 26 2014 the entire equity stake of IDFC Bank held by IDFC was
transferred to IDFC Financial Holding Company Limited (IDFC FHCL) thereby making
IDFC Bank a wholly owned subsidiary of IDFC FHCL which in turn is a wholly owned
subsidiary of IDFC. Pursuant to the Scheme of Demerger IDFC Bank issued and allotted
159.40 crore equity shares to shareholders of IDFC thereby reducing the shareholding of
IDFC FHCL from 100% to 53%. IDFC Bank began its operations with effect from 1 October
2015 with the launch of 23 branches across India and with a gross loan book of approximately
Rs 46381 crore. Shares of IDFC Bank were listed on the bourses on 6 November 2015.On 31
March 2016 IDFC Bank announced a partnership with Uphold the world's fastest growing
cloud-based financial platform for instant easy and affordable inward remittances to India. The
partnership is subject to approval from the RBI. This will enable Uphold users across
geographies initially starting with the U.S. and UK to send money or make payments instantly
to anyone in India redeemable directly through any Indian bank.On 12 July 2016 IDFC Bank
signed a share purchase agreement to acquire 100% of Grama Vidiyal Micro Finance Ltd one
of the largest microfinance institutions in the country. Upon completion of acquisition Grama
Vidiyal will be a wholly owned subsidiary of IDFC Bank. The acquisition will give IDFC
Bank immediate access to 1.2 million rural and semi-urban households and Grama Vidiyal's
network of 319 locations across 65 districts of Tamil Nadu Kerala Karnataka Pondicherry
Maharashtra Gujarat and Madhya Pradesh will act as Business Correspondent (BC) centres to
IDFC Bank. Grama Vidiyal has an AUM (Assets Under Management) of Rs 1502 crore of
micro finance assets as on 31 March 2016.IDFC Bank launched its services in Meghalaya on 8
August 2016 with the opening its first branch in the capital city of Shillong and setting up
15
Dept. of. BBA June – July 2021
first-of-its-kind interoperable micro ATMs in the state's rural locations. IDFC Bank committed
to provide 100000 water and sanitation loans with a value of over Rs 200 crore in the next
three years at the 2016 Global Citizen Festival held in Mumbai on 19 November 2016.On 30
November 2016 IDFC Bank announced that it has partnered with Bangalore-based online
lending platform Capital Float to provide digital lending to small businesses across India. The
partnership will address the needs of borrowers who have no access to organised bank credit
with limited or no documentation and without existing credit history. It is thus expected to
bring more small businesses into the organized finance architecture.In 2016 IDFC Bank
acquired up to 10% stake in ASA International India Microfinance for Rs 8.5 crore.On 7
February 2017 IDFC Bank in collaboration with IndiaLends launched a differentiated personal
loan solution for first-time borrowers. IndiaLends is a financial technology start-up founded
by ex-Capital one professional Gaurav Chopra and Mayank Kachhwaha.IDFC Aadhaar Pay
India's first Aadhaar-linked cashless merchant solution was officially launched on 7 March
2017 following successful pilots across 16 states. The customer's fingerprint is the password
used to authenticate the transaction.On 9 August 2017 IDFC Bank announced that it has
partnered with Zeta a leader in the digitized employee benefits space to launch `IDFC Bank
Benefits' - an innovative solution for corporates that digitizes employee spends and claims
making the process simple real-time and paperless. The end-to-end digital solution comprises
an IDFC Bank Benefits Card and Zeta app which integrates the full suite of allowances and
reimbursements offered by an employer into one preloaded card.On 17 October 2017 IDFC
Bank crossed an important milestone with the launch of its 100th branch at Honnali in
Davanagere district of Karnataka. This coincides with the completion of the bank's second
year of operations.IDFC Bank MobiKwik and Net1 announced a partnership on 9 November
2017 to launch a co-branded virtual prepaid card on the Visa platform to customers of
MobiKwik. Around 65 million users of the MobiKwik will gain access to an IDFC Bank
virtual card embedded within the app making digital purchases at all e-commerce merchants
easier and faster. Net 1 a leading international payments company is a partner and a strategic
investor in MobiKwik.The Boards of Directors of IDFC Bank and Capital First at their
respective meetings held on 13 January 2018 approved a merger of Capital First with IDFC
16
Dept. of. BBA June – July 2021
Bank. Pursuant to the merger which is subject to regulatory and shareholder approvals IDFC
Bank will issue 139 shares for every 10 shares of Capital First. This announcement is pursuant
to IDFC Bank's stated strategy of 'retailising' its business to complete their transformation
from a dedicated infrastructure financier to a well-diversified universal bank and in line with
Capital First's stated intention and strategy to convert to a universal bank. Capital First is
finance company specializing in financing small entrepreneurs and consumers based on new
age technologies.Post-merger the combined entity of IDFC Bank and Capital First will have
an AUM of Rs 88000 crores; PAT of Rs 1268 crores (FY 17); and a distribution network
comprising 194 branches (as per branch count of December 2017 of both entities) 353
dedicated BC outlets and over 9100 micro ATM points serving more than five million
customers across the country.On 4 June 2018 the Reserve Bank of India (RBI) conveyed its
`No Objection' for the voluntary amalgamation of Capital First Limited Capital First Home
Finance Limited and Capital First Securities with IDFC Bank subject to compliance with the
terms and conditions specified therein.During the financial year ending March 31 2019 92
new branches were opened across the country.Pursuant to the effectiveness of the Composite
Scheme of Amalgamation on December 18 2018 the Allotment Transfer and Routine Matters
Committee of the Board of Directors of the Bank at its meeting held on January 05 2019 had
inter-alia considered and approved the allotment of 1377109057 equity shares of face value of
Rs 10 each fully paid-up as per the Said Share Exchange Ratio in terms of the Scheme to the
eligible equity shareholders of erstwhile Capital First Limited as on December 31 2018 being
the 'Record Date'.The Board of Directors and Shareholders of the Bank had approved the
change of name of the Bank from `IDFC Bank Limited' to `IDFC FIRST Bank Limited' and
the consequential amendment to the Memorandum and Articles of Association of the Bank.
The name of the Bank has changed from IDFC Bank Limited to `IDFC FIRST Bank Limited'
with effect from January 12 2019 by virtue of 'Certificate of Incorporation pursuant to change
of name' issued by the ROC Chennai.During FY 2018-19 the Company's wholly owned
subsidiary `IDFC FIRST Bharat Limited' disbursed Rs 4989 crores of which Rs 4808 crore is
in Joint Liability Group (JLG) Rs 31 crore is in Micro Enterprises Loan (MEL) and Rs 149
crore is in Micro Housing Loan (MHL) products as a BC to IDFC FIRST Bank. The year end
17
Dept. of. BBA June – July 2021
portfolio outstanding managed by IDFC FIRST Bharat for FY ended March 31 2019 increased
to Rs 3732 crore The no of savings accounts opened by IDFC FIRST Bharat during FY 2017-
18 was Rs 8 lakhs which increased to Rs 12 lakhs at the end of FY 2018-19.The merged entity
of the Bank expanded its retail lending operations during the year and cumulatively financed
over 7.3 million customers and built a retail loan portfolio of Rs. 40812 crore as on March 31
2019.The Board of Directors of the Bank at their Meeting held on May 01 2020 subject to
approval of the shareholders and such other approvals as may be required approved the
Preferential Issue involving the issue and allotment of up to 862440704 (Eighty-Six Crores
Twenty-Four Lakh Forty Thousand Seven Hundred and Four) equity shares of face value of
Rs 10/- (Rupees Ten only) each fully paid-up at a price of Rs 23.19/- per equity share
(including premium of Rs 13.19/- per share) aggregating up to Rs 2000 crores (rounded off)
on a preferential basis to IDFC Financial Holding Company Limited(344976282 shares) ICICI
Prudential Life Insurance Company Limited(258732212 shares) Dayside Investment Ltd
(affiliated entity of Warburg Pincus)( 86244070 shares) HDFC Life Insurance Company
Limited(86244070 shares) and Bajaj Allianz Life Insurance Limited(86244070 shares). These
shares have been allotted during the quarter ended 30 June 2020.The Total Customer Deposits
(CASA Retail Term Deposits and Wholesale Term Deposits) have increased by 43% from Rs
40504 crore as of March 31 2019 to Rs 57719 crore as of March 31 2020. During FY2020
CASA Ratio of the Bank has consistently improved every quarter and within a year it has
grown from 11.40% as on March 31 2019 to 31.87% as on March 31 2020.As on 31 March
2020 IDFC FIRST Bank has one wholly owned Subsidiary Company namely IDFC FIRST
Bharat Limited (`IDFC FIRST Bharat`) which was formerly known as IDFC Bharat Limited.
IDFC FIRST Bharat is acting as a Business Correspondent (`BC') for distribution of the
products of IDFC FIRST Bank and has given an added momentum to the financial inclusion
plan of the Bank.As on March 31 2020 the Bank has built a national footprint through the
operation of 464 branches (out of which 295 are Urban Branches and 169 are Rural Branches)
across many cities in India 652 Corporate Business Correspondent (`BC') branches 356 ATMs
3 Central Processing Centers and 1 Clearing Hub.The SARS-CoV-2 virus responsible for
COVID-19 continues to spread across the globe and India. On March 11 2020 the COVID-19
18
Dept. of. BBA June – July 2021
outbreak was declared a global pandemic by the World Health Organization. On March 24
2020 the Indian government announced a strict 21-day lockdown which was further extended
until May 31 2020 across the country to contain the spread of the virus. On May 30 2020 the
Government announced a phased reopening of certain activities outside specified containment
zones while the lockdown was extended to June 30 2020 in such containment zones. Some of
the States further extended the lockdown to July 31 2020. During May 2020 the RBI also
announced the second phase of moratorium till end of August 2020 and the Bank accordingly
extended moratorium to its eligible customers. The Branch Network stands at 503 branches
and 417 ATMs across the country as on 30 June 2020.The Branch Network stands at 523
branches and 509 ATMs across the country as on 30 September 2020.The Branch Network
stands at 576 branches and 541 ATMs across the country as on 31 December 2020.The capital
raising committee of the Board of Directors of the Bank at its meeting on 06 April
2021approved the issue and allotment of 523103660 equity shares of Rs 10 each to Qualified
Institutional Buyers(QIBs) at a price of Rs 57.35 per share aggregating to Rs 3000
crore(rounded-off) pursuant to the issue.As on 31 March 2021the bank had its network
through 596 Bank liability branches 151 asset branches 592 ATMs and 85 recyclers and 655
rural business correspondent centres across the country.During the FY2021 CASA Deposits
posted strong growth rising 122% YoY to Rs.45896 crore as on 31 March 2021 as compared
to Rs.20661 crore as on 31 March 2020. CASA Ratio improved to 51.75% as on 31 March
2021 as compared to 31.87% as on 31 March 2020.The total Customer Deposits increased by
43% to Rs.82725 crore as of 31 March 2021 as compared to Rs.57719 crore as of 31 March
2020. The Total Funded Loan Assets stood at Rs.117127 crore as on 31 March 2021
compared to Rs.107004 crore as on 31 March 2020 and Retail Loan Book increased to
Rs.73673 crore as on 31 March 2021 compared to Rs.57310 crore as on 31 March 2020.

INDUSTRY PROFILE

19
Dept. of. BBA June – July 2021
In all products the company driven about one thing: to deliver high quality products and
services at affordable rates. Employees’ DNA are being coded to be sincere about working in
the customer’s interest at all times.

Products of IDFC First Bank

⮚ Personal Banking

● Savings Account

● Deposits

● Loans

● Investment

● Insurance

● Ways to bank

● Payments

● Cards

● Forex
20
Dept. of. BBA June – July 2021
 ⮚ Business Banking

● Accounts and Deposits

● Cash management Services

● Loans

● Business investment solutions

● Trade Forex services

● Ways to bank

● Cards

⮚ Wholesale Banking

● Corporates

● MNC’s

● Fastag

● Government

● Financial institutions

⮚ Wealth Management
Digitised and democratised wealth management platform available to all customer
segments
• Customers can choose to opt for an investment in line with their goals and risk profile
without human intervention
• Employees are trained not to push products that do not suit customer’s financial needs

● Investment solutions

21
Dept. of. BBA June – July 2021
 ● Personal Insurance solutions

● Business Insurance solutions

Contribution to the country

22
Dept. of. BBA June – July 2021
At CSR division are passionate about what we do and are involved directly in all the
programmes that we manage. The company get the necessary resources, time and attention of
peers and seniors who along with us are thrilled for the opportunity to serve the people around
us.

The support from the highest level in the Bank and all our departments get together and join
hands in serving communities affected by both waves of COVID-19. After weeks of
brainstorming we conceptualised the following 7 programmes to tackle the first wave of
COVID-19

• PM Cares Contribution – We donated ` 5 Crores to PM CARES Fund

• Ask For Mask Programme- We supported 250 women who stitched masks. We procured
/manufactured and distributed 1.5 Lakh masks in total to frontline workers

• Shramik Sahayata Programme – We supported direct cash transfer and linkage to various
government schemes for 625 labourers who had lost their livelihoods

• Share-a-Meal Programme- Distributed 1 Lakh meals to migrant laborers and slum dwellers

• Gaon Gaon Mask Programme – 150 women stitched 2 lakh masks that were distributed in
rural locations

• Jankari mein Samajhdari Programme – COVID-19 awareness film disseminated to 3 mn

customers

• COVID Warriors on Wheels Programme- Provided free transport facility for staff of two
leading hospitals in Mumbai during the lockdown

23
Dept. of. BBA June – July 2021
COMPANY PROFILE
IDFC Bank was incorporated as a wholly owned subsidiary of IDFC on October 21, 2014
under the Companies Act, 2013 having its registered office at KRM Tower, 8th Floor, No.1
Harrington Road, Chetpet, Chennai - 600 031, after in-principle approval to set up a new bank
in the private sector was granted to IDFC by the RBI on April 9, 2014. Subsequently, pursuant
to the Scheme of Demerger we have issued equity shares and currently our Bank is a
subsidiary of IDFC FHCL which holds 53% of our Banks’ equity share capital.
IDFC Bank Limited (“IDFC Bank”) is a professionally managed new private sector bank in
India, promoted by IDFC Limited (“IDFC”). IDFC, which we believe to be one of the leading
integrated financial services companies in India, offers, including through its subsidiaries (the
“IDFC Group”) a wide range of customercentric financing solutions and conducts
complementary businesses under the well-recognized brand, “IDFC”.
24
Dept. of. BBA June – July 2021
IDFC Bank has been established as a public limited company to carry out the business of
banking. IDFC Bank have started our banking operations from October 1, 2015 after receipt of
final banking license from the RBI. Our Bank has three business verticals namely Commercial
and Wholesale banking, Rural banking, Personal and Business banking. The majority of the
branches will be in rural India and the quality of customer service and digital banking will be
the primary focus of our Bank.

⮚ VISION: To build a world class bank in India, guided by ethics and customer first
values, powered by technology, and be a force for social good.

⮚ MISSION: We want to touch the lives of millions of Indians in a positive way by

providing high-quality banking products and services to them, using contemporary
technologies.

25
Dept. of. BBA June – July 2021
 26
Dept. of. BBA June – July 2021
 27
Dept. of. BBA June – July 2021
BOARD OF DIRECTORS

28
Dept. of. BBA June – July 2021
Branches

SWOT ANALYSIS

⮚ Strengths

● Strong Annual EPS growth

● Growth in Net Profit with increasing Profit Margin

● Increasing Revenue every quarter for the past 2 quarters.

● Company with Zero Promoter Pledge.

● MFs increased their shareholding last quarter.

⮚ Weakness

● Red flag: High interest payments compared to earnings.

● Companies with high debt

● Promoter decreasing their shareholding.

⮚ Opportunity

● Rising delivery percentage compared to previous day.

29
Dept. of. BBA June – July 2021
 ● Broker price upgrades in last month.

● Companies with 10% increase in share price over three months.

● Positive breakout third Resistance.

● Turn around companies loss to profit.

⮚ Threats

● Stocks with expensive valuations according to the Trendlyne Valuation score.

● Increase in NPA in recent results.

IN-DEPTH FUNCTIONAL DEPARTMENTS

⮚ Financial Department

Highest degree of transparency is maintained in all interactions with customers, investors and
stakeholders. Apart from regulatory disclosures reported on NPA, as a part of good
governance and transparency, the Bank even provides a list of stressed assets, together with
their corresponding outstanding and provision figures, and puts these in public domain
through investor presentations every quarter. FY21 has been a challenging yet a
transformational year for IDFC FIRST Bank. As the pandemic hit India in the early part of
2020, the Banking and Financial Services (BFSI) sector in our country encountered the impact
from March 2020 onwards. Financial year 2020-21 (FY21) has been an extremely challenging
year for the entire BFSI sector, which witnessed multiple interventions from the Government
of India and the RBI. This includes an array of fiscal and monetary stimulus measures
(moratorium, extension of moratorium and restructuring plans) to support the vulnerable
sections of the population. Mobility of the population was also restricted by imposing nation-
wide lockdown. The slowdown in the economy with contraction in GDP compelled the
incumbents in the BFSI sector in India to prepare and provide for credit defaults and losses

30
Dept. of. BBA June – July 2021
arising from this unprecedented situation in their balance sheets. At its early stages of
transformation and growth, IDFC FIRST Bank also encountered such a situation, which
impacted its financial performance of FY21.

The Bank posted a profit of ` 452 crore for the last financial year, FY21, despite challenges in
the Indian banking sector as the COVID-19 pandemic outbreak triggered nationwide
lockdowns. This impacted businesses, operations and collections of the Bank and the Bank
took additional provisions to accommodate such impacts, following the prescribed guidelines
by the RBI. We are proud to share that during the year our customer deposits consistently
grew every quarter and our transparent communications helped to increase our customers’
confidence.

1. The Bank steadily diversified its funded assets by increasing the Retail Loan Assets.

2. The Bank made significant progress in retailising its deposit base in favour of the retail
deposits including Retail CASA and Retail Term Deposits as they are much stickier, granular
and sustainable in nature. Such transformation of both loan assets and deposits are evident
through the performance of the Bank post merger.

31
Dept. of. BBA June – July 2021
 32
Dept. of. BBA June – July 2021
Balance sheet

33
Dept. of. BBA June – July 2021
Profit and Loss statement

34
Dept. of. BBA June – July 2021
 ⮚ Human resources department

The Bank has honoured all its commitments made to around 3,500 new hires even at the
height of the pandemic. These job offers were rolled out before the pandemic set in and some

35
Dept. of. BBA June – July 2021
of the roles were redundant during the pandemic. However, the Bank honoured every single
offer made – choosing instead to re-allocate these resources to new roles. Over time as the
economy revived, all new hires were given regular positions.

36
Dept. of. BBA June – July 2021
Comparative analysis with competitors

37
Dept. of. BBA June – July 2021
 Learning Experience

The Organizational study provides a great deal, more advantages. It leads to improvement of
qualification, communication skills, report writing, organization work, information required to
do work and ability to do independently. I acquired new knowledge skills, which will help me
in future. I have accumulated various experience and wider new knowledge through activities.
This internship gave me the opportunity to learn valuable information and acquire skills.

This Organizational study broadened my mind. It helped me to understand how the key
business process are carried out in an LTI and how information is used in organization for
decision making at various levels. This study was successful in understanding the extent
technology used in the organization for various functions.

Conclusion
IDFC First Bank LTD has given us an very good knowledge and learning experience. We
have got to how the bank functions and its products. We also have received the knowledge
about the various departments in the bank and how it functions. In this case study, we have
analysed the operational strategy, business strategy, financial stability, marketing mix,
competitors, training, and recruitment strategy of IDFC First Bank LTD to know its overall
performance as a prominent winner in the competitive environment. The case-study also
presents the analyzed its business strategies using SWOT framework.

38
Dept. of. BBA June – July 2021
 BIBILOGRAPHY

• www.mindtree.com

• www.moneycontrol.com

• www.ndtv.com

• www.etimes.com

• www.business-standard.com

39
Dept. of. BBA June – July 2021
 40
Dept. of. BBA June – July 2021
 41
Dept. of. BBA June – July 2021