23-490: The Prof. D.B. Deodhar Trophy or simply Deodhar Trophy (also known as IDFC First Bank Deodhar Trophy due to sponsorship reasons), is a List A cricket domestic cricket tournament of India. It is named after D. B. Deodhar (known as the Grand Old Man of Indian cricket) and is a 50-over knockout competition played on an annual basis among the 3 national level teams – India A , India B and India C . India B are
46-730: A cash relief support of ₹10,000 in a partnership with 'Give India'. Competition Commission of India The Competition Commission of India ( CCI ) is the chief national competition regulator in India . It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act, 2002 to promote competition and prevent activities that have an appreciable adverse effect on competition in India. The CCI looks into cases and investigates them if
69-707: A gross non-performing asset (NPA) ratio of 1.88% and a net NPA ratio of 0.60% as of March 31, 2024. As of 30 September 2024, the overall gross NPA ratio is 1.92%, while the net NPA ratio is 0.48%. Under bank’s employee-funded Ghar Ghar Ration program, the bank employees will supply ration kits to 50,000 low income customers whose livelihoods has been impacted by the pandemic. As many as 16,000 beneficiaries have been reached across Rajasthan, Madhya Pradesh, Maharashtra, Odisha, Gujarat, Karnataka, Haryana, Tamil Nadu, Andhra Pradesh, and Chhattisgarh under this program. The lender has also identified 250 vulnerable families who have lost an earning member of their family to COVID-19 with
92-538: A member of the Open Network for Digital Commerce in September 2022. Subsequently, it began enrolling small merchants, who are existing customers with current accounts, onto a partner application registered with ONDC. The bank achieved a profit after tax (PAT) of ₹ 2,957 crore (US$ 350 million) crore in the financial year 2024, maintaining a capital adequacy ratio of 16.82%. The bank's retail loans showing
115-523: A merger, , resulting in a combined loan asset book of Rs 1.03 trillion under the newly formed IDFC First Bank. Capital First was founded in 2012 by V. Vaidyanathan who acquired a stake in Future Capital Holdings and secured equity backing of Rs. 8.10 billion from Warburg Pincus . As per the September 2017 stock filing, Capital First had a retail loan portfolio of Rs 229.7 billion, serving three million customers across 228 locations. In
138-585: A period of three years, effective from December 19, 2018. 13.9 shares of IDFC Bank were issued for every share of Capital First as part of the merger scheme. IDFC Bank had faced challenges due to bad loans from legacy infrastructure accounts. Its stock once traded 4.3% lower than its listing price, partly due to the breakup of the planned merger with the Shriram Group. While the bank has made efforts to improve its assets, it has not provided clear guidance on its liabilities. By September 2017, bank's deposits
161-835: The Competition Commission of India for its merger. On 18 December 2023, the RBI issued 'no objection' for the bank to merge with IDFC. But the merger still needs approval from the National Company Law Tribunal . On 17 May 2024, the NCLT convened via video conferencing to approve the merger proposal between IDFC First Bank and IDFC Limited. The proposal, endorsed by the bank's shareholders and NCD holders, involves two steps: IDFC FHCL merging with IDFC Limited, followed by IDFC Limited merging into IDFC First Bank. On 1 October 2024, IDFC Limited merged with
184-781: The Reserve Bank of India granted 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, and it was officially inaugurated by the Prime Minister of India Narendra Modi in October 2015. IDFC Bank started operations on 1 October 2015. In January 2018, IDFC Bank and non-banking financial company Capital First announced
207-473: The Vijay Hazare Trophy , India A and India B play each other in a round-robin format. The top two teams progress to the finals. From 2018 to 2019, India A , India B and India C play each other in a round-robin format. The top two teams progress to the finals. IDFC First Bank IDFC First Bank (stylised as IDFC FIRST Bank ) is an Indian private sector bank formed by
230-591: The act are sought to be achieved through the Competition Commission of India (CCI), which has been established by the Central Government with effect from 14 October 2003. CCI consists of a chairperson and six members appointed by the Central Government. It is the duty of the commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in
253-537: The bank rose to 3.36%. The parent entity, IDFC Limited, retained the AMC, Institutional Broking, and Infrastructure Debt Fund businesses through IDFC Financial Holding Company Limited (NOFHC). In July 2024, Life Insurance Corporation raised its stake in the bank to 2.68% by purchasing shares of the lender at Rs 80.63 each, with a total acquisition cost of ₹ 1,500 crore (US$ 180 million). The bank transformed from infrastructure to retail banking in four years since
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#1732783993355276-413: The bank up to 40 percent, from the current level of 36.38 percent. Also, on 22 February 2023, the bank issued 12,03,745 equity shares to its employees under the company ESOP plan. On September 12, 2023, US-based GQG Partners acquired an additional 5.1 crore shares, equivalent to a 0.76% stake, from V. Vaidyanathan in a block deal conducted on the stock exchange. As a result, GQG Partners' ownership in
299-455: The bank. As a result of the merger, 155 equity shares of the bank were allotted for every 100 equity shares of IDFC Limited held by each shareholder in the latter. As of September 2023, the promoter holding at the bank is 40.00 the institutional holding is at 24.48, the public holding is at 26.02. But on 22 February 2023, IDFC Limited announced it intention to invest INR 2,200 crores in the bank. This will bring IDFC Limited's current holding in
322-543: The creation of market responsive to consumer preferences. The advantages of perfect competition are three-fold: allocative efficiency, which ensures the effective allocation of resources, productive efficiency, which ensures that costs of production are kept at a minimum and dynamic efficiency, which promotes innovative practices." Supreme Court of India Judgment in Civil Appeal No. 7999 of 2010 pronounced on 9 September 2010 An Act to provide, keeping in view of
345-403: The current champions, winning the 2019–20 after defeating India C by 51 runs in the final. The competition was introduced in 1973–74 season as an inter-zonal tournament. From 1973–74 to 2014–15, two zonal teams played in a quarter-final, with the winner joining the other three zonal teams in the semi-finals. From there, it was a simple knockout tournament. From 2015–16 to 2017–18, the winners of
368-449: The economic development of the country, for the establishment of a Commission to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants in markets, in India, and for matters connected therewith or incidental thereto. To achieve its objectives, the Competition Commission of India endeavors to do
391-407: The markets of India. The commission is also required to give an opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues. "The main objective of competition law is to promote economic efficiency using competition as one of the means of assisting
414-500: The merger of the banking arm of Infrastructure Development Finance Company and Capital First , which was an Indian non-bank financial institution. IDFC First Bank got privatized on 1st October 2024 by reverse merger with parent IDFC Ltd, a Government of India entity. IDFC Limited was set up in 1997 by Government of India to finance infrastructure projects in India. With time, the company diversified into asset management , institutional broking and investment banking . In 2014,
437-476: The merger, increasing the CASA ratio from 8.6% to 49.77% (March 31, 2023) and retail deposits from 27% to 76% of total deposits. As of November 2022, the bank had 809 branches, 249 asset service centres, 925 ATMs, and 606 rural business correspondent centres across the country. The bank provides products and services related to retail banking , wholesale banking and investment banking . The bank became
460-516: The same has a negative impact on competition. CCI also approves combination under the act so that two merging entities do not overtake the market. The commission was established on 14 October 2003. It became fully functional in May 2009 with Dhanendra Kumar as its first chairman. The current Chairperson of the CCI is Ravneet Kaur, who was appointed to the role in 2023. The idea of Competition Commission
483-469: The same quarter, the company reported a gross NPA ratio of 1.63% and a net NPA ratio of 1%. In 2018, Capital First obtained an upgraded long-term credit rating of AAA. It was an Indian non-bank financial institution providing debt financing to small and medium-sized enterprises. Post the merger, Vaidyanathan took over as the MD and CEO of the merged entity . The Reserve Bank of India approved his appointment for
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#1732783993355506-835: Was conceived and introduced in the form of the Competition Act, 2002 by the Vajpayee government . A need was felt to promote competition and private enterprise especially in the light of 1991 Indian economic liberalisation . The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, follows the philosophy of modern competition laws. The Act prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and Merger and acquisition ), which causes or likely to cause an appreciable adverse effect on competition within India. The objectives of
529-400: Was totaled Rs 38,890 crore, with only 8.2% in current and savings accounts. As of 3 July 2023, the board of the bank had approved the merger with IDFC Limited. Shareholders of the latter will receive 155 shares of IDFC FIRST Bank for every 100 shares they currently own in IDFC Limited, as stated in a filing with the stock exchange. In the mid of October 2023, the bank obtained clearance from
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