Current Affairs - Banking - Discussion

IDFC FIRST Bank launched the Business Multiplier Credit Card on May 19, 2026, to support early-stage entrepreneurs, founders, and small business owners. The secured credit card is issued against a fixed deposit, removing the need for traditional credit history, profitability records, or high credit scores. It provides a 100% credit limit against the linked deposit, along with lower interest rates and zero forex markup charges for international transactions. The product is designed to improve financial access for startups and growing businesses while offering flexibility to scale credit limits through additional fixed deposits without undergoing fresh underwriting procedures.