Platinum Invictus gets RBI nod for proposed investment in IDFC First Bank

IDFC First Bank on Friday (August 8) announced that Platinum Invictus B 2025 RSC Limited has secured approval from the Reserve Bank of India (RBI) to invest up to 9.99% of the bank’s paid-up share capital.The proposed investment amounts to about ₹2,624 crore, representing roughly 5.09% of the bank’s post-issue paid-up share capital. This stake purchase will be executed as part of a preferential issue approved by IDFC First Bank’s shareholders on May 17, 2025.

The lender had earlier disclosed the plan to raise funds through this preferential issue and has now confirmed receiving the necessary RBI clearance for the investment.

In a separate development, IDFC FIRST Bank has launched ‘RemitFIRST2India’, a new digital platform designed to help Non-Resident Indians (NRIs) send money to India in a faster and more secure manner.The platform supports transfers from Singapore and Hong Kong, with plans to expand to other countries in the near future.

Developed in partnership with Singapore-based remittance provider SingX, the platform aims to provide real-time transaction tracking, competitive forex rates, and paperless transfers. Customers can access the service through the IDFC FIRST Bank mobile banking app or a dedicated web portal.