IDFC First Bank has announced comprehensive changes to its credit card benefits structure, implementing significant cuts to reward rates and introducing new fees across its popular card portfolio including Mayura, Ashva, Select, and Wealth cards.

Premium Cards Face Major Reward Reductions

The most significant changes affect the bank's premium offerings. Starting January 18, IDFC Ashva and Mayura cardholders will see their international transaction rewards reduced substantially.

Cardholders can still access the original 10x rewards, but only by spending at least ₹20,000 in a billing cycle on eligible transactions. According to Ankur Mittal, Co-Founder of Card Insider, "This is a major change to both these premium cards and shall massively bring down the overall value derived from them."

The bank has also introduced a new penalty structure where reward points will not be credited for any billing cycle if the minimum amount due is not paid by the due date. This rule extends to the Club Vistara IDFC FIRST Credit Card, affecting Maharaja Points crediting.

Lifetime-Free Cards Experience 25% Reward Cut

The bank's lifetime-free credit cards—Classic, Select, and Wealth—have seen their basic reward structure modified significantly.

Despite the basic rate reduction, cardholders will continue earning 10x reward points on monthly spends above ₹20,000 and on birthday spends, while spends below ₹20,000 monthly will earn 3x points.

Airport Lounge Access Restrictions

Starting April 2026, airport lounge benefits will be significantly curtailed across multiple card categories.

New Fees and Fair Usage Policy

The bank has introduced a fair usage policy targeting high-value transactions in specific categories. FASTag recharges and railway bookings will now earn only 1x reward points, down from higher rates previously offered.

Additional surcharges have been implemented:

• FASTag recharges: 1% surcharge on amounts exceeding ₹10,000 per billing cycle
• Railway bookings: 1% fee on total transaction amount for spends above ₹25,000 per cycle

Mittal noted that "These changes target only unusually high spends in specific categories, most customers' everyday usage remains unaffected."

Travel Booking Enhancements

Amid the benefit cuts, IDFC First Bank has enhanced rewards for travel bookings made through its mobile application.

Market Impact

IDFC First Bank shares closed at ₹84.22 on December 24, down ₹0.79 or 0.93% on the BSE, reflecting broader market movements.

According to Mittal's assessment, the latest revisions significantly reduce the value proposition of several lifetime-free cards and substantially cut reward earnings on premium cards, particularly for international spending where reward rates have effectively been halved. The changes reflect the banking industry's ongoing trend of periodically revising reward structures and usage terms to optimize profitability.

IDFC First Bank Limited has completed the allotment of equity shares to its employees under the Employee Stock Option Scheme (ESOS) on December 22, 2025. The bank allotted 7,96,222 equity shares of face value ₹10 each to eligible employees who exercised their vested stock options.

Share Allotment Details

The allotment represents the exercise of stock options by employees under the IDFC FIRST Bank-ESOS program. The newly issued shares carry the same rights and privileges as existing equity shares of the bank.

Impact on Share Capital

The allotment has resulted in an increase in the bank's issued and paid-up equity share capital.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Employee Stock Option Scheme serves as an important tool for employee retention and motivation, allowing eligible staff members to participate in the bank's growth through equity ownership. The exercise of these options demonstrates employee confidence in the bank's long-term prospects and aligns their interests with those of shareholders.