IDFC First Bank
IDFC First Bank is widening its consumer offer, removing forex markup on all credit cards with no spend threshold and bundling 300+ services in its app (ET Small Business, 29 Jul). Its own economist flags monsoon deficits as a risk to rural spending in Q4 FY27 (Mint, 11 Sept).
What it means Card-issuing rivals that charge forex markup now compete against a zero-markup product.
Latest moves
Our read of each move first, where we have one; what the report said is marked Reported.
Background
From 5 stories, the newest dated 30 Sept 2026. Summary written 3 Oct 2026.
IDFC First Bank is an Indian bank that serves over 40 million customers. [1] source: The Hindu BusinessLine
Show 3 more paragraphs and 5 sources
Its customer business was Rs 6,04,776 crore as of June 30, 2026, with around 20% YoY customer-business growth. [1] source: The Hindu BusinessLine
In September 2026, IDFC FIRST Bank waived forex markup on international transactions for all existing and new credit cards, without spend thresholds or upgrades, while retaining applicable reward points or cashback. [1] source: The Hindu BusinessLine[2] source: The Hindu BusinessLine The typical forex markup cited is 3.5% plus GST, and a Rs 1,00,000 international transaction avoids about Rs 4,130 in forex markup and GST. [1] source: The Hindu BusinessLine The move targets travel, cross-border e-commerce, subscriptions, education and business spending. [1] source: The Hindu BusinessLine MOFSL issued a Buy call on IDFC First Bank in September 2026 with a target price of Rs 105 and upside potential of 23%, and estimated a PPoP CAGR of 42% for FY26-FY28. [3] source: Business Today Axis Capital's September revision showed a 2.6% upgrade to IDFC First Bank's FY27 earnings estimate. [4] source: NDTV Profit
Business Today reported that IRDAI's proposal to cap insurance commissions and spread payouts over policy terms leaves IDFC First Bank with bancassurance income exposure of 17% of FY27 normalised PBT. The same report put IndusInd Bank at 18%, AU Small Finance Bank at 11%, Axis Bank at 9% and HDFC Bank at 7%. [5] source: Business Today
Sources
Questions about IDFC First Bank
How fast is IDFC First Bank growing in India?
IDFC First Bank reported customer business of Rs 6,04,776 crore as of June 30, 2026, with around 20% YoY customer-business growth, and it has over 40 million customers. [1] source: The Hindu BusinessLine
Stories that mention IDFC First Bank
4 stories
IDFC First Bank is named in these stories but is not their subject.
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