 IDFC was incorporated on 30 January 1997 with its registered office in Chennai and started operations on 9 June 1997.In 1998 the company registered with the Reserve Bank of India (RBI) as a non-banking financial company and in 1999 it formally became a Public Financial Institution.IDFC registered with the Securities and Exchange Board of India (SEBI) as a merchant banker and as an underwriter in 2000 and in 2001 as a debenture trustee.