What is the full form of IIFL
IIFL: India Infoline Finance Limited
IIFL stands for India Infoline Finance Limited. It is a leading diversified finance company in India, based in Mumbai. It is founded by Nirmal Jain in October 1995. IIFL is counted among the top seven financial conglomerates in India. It was formerly called as India Infoline Investment Services Limited, renamed India Infoline Finance Limited in November 2011. It is a subsidiary of IIFL Holdings Limited.
Today, IIFL is a dominant player in both retail and institutional sector of the market. It is the first Indian broker who got the membership of the Colombo Stock Exchange and received an in-principal approval for membership of the Singapore Stock Exchange.
IIFL also received the BQ1 broker grading from CRISIL which reflects its efficient external interface, robust systems framework and strong risk management. This grading also shows healthy regulatory compliance track record and adequate credit risk profile of IIFL.
Products and Services
The company offers a wide range of products and services, some of which are as follows:
- Equities
- Commodities
- Credit and Finance
- Insurance
Brief History
- It was originally incorporated as Probity Research and Services Pvt. Ltd. in October 1995 with an aim to produce unbiased, independent, quality research on the Indian economy, industries and corporate etc.
- In 1998, it launched its research products ‘Probity 200 Company Reports, Economy Probe and Sector Reports etc.
- In 1999, www.indiainfoline.com was launched by the company to make the all the research available on the internet.
- In 2000, the company launched 5paisa.com with full-service brokerage at 0.05%.
- In 2001, it became India’s first Corporate Agent for Insurance after tying up with ICICI Prudential Life Insurance.
- In 2003, the company introduced its ‘Trader Terminal’, software to revolutionize online trading.
- In 2005, it was listed on BSE and NSE.
- The IIFL’s first global investor conference ‘Enterprising India’ was held in 2009-10.
- In 2009, the company was registered with NBH for housing finance business.
- In 2010, it began the gold loan business in order to diversify its product portfolio.
- In 2011, the company incorporated the IIFL Asset Management Company.
- In 2012, it introduced a Real Estate Fund, a debt and equity-linked investment instrument.
- In 2015, IIFL launched a stock trading mobile application in February 2015 which was the highest rated (4.4) and most downloaded stock trading app.
Awards
Since its inception, IILF has won various awards some of which are as follows:
Awards in 2011:
- Asset Asian Award 2011 – Triple A
- Best Broking House with Global Presence, 2011, at the D&B Equity Broking Awards 2011
- Best Wealth Management House (India), 2011 & 2012, Triple A
Awards in 2012:
- Best Market Analyst Awards 2012
- Best Commodities Investment, 2012 Euro Money
- Best Wealth Management House (India), 2012, Triple A.
Awards in 2013:
- CFA – Sri Lanka Capital Market Awards 2013 – Silver Award
- Best Customer Service in Financial Services, 2013 – Retailer Customer Service Awards
- India’s best Market Analyst Awards 2013 by Zee Business for Oil & Gas
- India’s best Market Analyst Awards 2013 by Zee Business for Pharma
Awards in 2014:
- India’s Most Promising Brand 2014 award at the WCRC Global India Excellence Summit
- Triple A Private Banking, Wealth Management and Investment Awards 2014
- Listed as the top securities trading firm in India in Fortune 500 India list, 2014
Awards in 2015:
- Won award for Best & Most Popular Website in the Banking & Investment category, 2015
- Recognized as a Best Private Bank for Research and Asset Allocation by Euromoney Private Banking Survey, 2015
- Global Talent Acquisition & Rasbic Awards 2015 – IIFL Wealth
- Gold Award at 54th ABCI Annual Awards Nite
Awards in 2016:
- BSE Skoch Order of Merit Award for Innovative Deployment of Technology within Investing Services Space
- Best & Most Popular Website in the Banking & Investment category, 2016
- Silicon Valley Business Awards 2016 for Best Finance & Management App & Best Overall App
- Digital Innovation Champion Award – CIO Crown 2016
- ET Best BFSI Brands Recognition, 2016
- Golden Peacock Award for Corporate Social Responsibilities, 2016