The full form of IIFL is India Infoline Limited. Mumbai is home to IIFL, India’s most diversified financial services provider. Nirmal Jain started IIFL in October 1995. The top 7 financial institutions in India include IIFL. In November 2011, it changed its name from India Infoline Investment Management Ltd to India Infoline Finance Limited.
History of IIFL
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- First, Probity Research and Services Private Limited were established in October 1995 to foster excellent, unbiased, and independent Indian economic growth of the industry, corporate research, and so forth.
- In 1998, it introduced its research services, including Probity 200 Business Reports, Economy Probe and Industry Reports, etc.
- To compile all pertinent and open work on the internet, the company developed www.indiainfoline.com in 1999.
- The full-service brokerage 5paisa.com was started in 2000 at 0.05 per cent.
- It became India’s first Corporate Insurance Agent after partnering with ICICI Prudential Life Insurance in 2001.
- In 2003, the company unveiled the ‘Trader Terminal,’ software for developing and evolving electronic trading.
- The company was listed on BSE and NSE in 2005.
- In 2009-10 the first foreign investor event, ‘Enterprising India’ of the IIFL, occurred.
- In 2009, the company for the housing financing industry received an NBH licence.
- In 2010, it launched the gold-loan market.
- In 2011, the business became a part of IIFL Asset Management Corporation.
- Real Estate Investment, a debit and equity-related investment product, was released in 2012.
- In February 2015, the IIFL released a mobile share trading app, which quickly rose to the top of the charts and gained widespread popularity.
Services and Products of IIFL
The company provides a wide variety of goods and services, including:
- Finance and credit
- Equities
- Insurance
- Commodities