IDFC Bank announces Board of Directors ahead of launch

IDFC Bank announces Board of Directors ahead of launch

Author | exchange4media News Service | Thursday, Sep 24,2015 5:57 PM

IDFC Bank announces Board of Directors ahead of launch

Integrated infrastructure finance institution IDFC unveiled the brand identity and announced the Board of Directors and Management team of its new entity, IDFC Bank.

Speaking on the occasion, Dr. Rajiv Lall, Executive Vice Chairman and Managing Director, IDFC Bank said, “A brand isn’t just advertising or a message that we promote. It has to be a philosophy we believe and live every day to ensure our customers experience it in what we say and do. We were keen on a logo that captures the vibrant colours of our nation. Our new logo reflects this diversity and is symbolic of the upcoming colours of change in banking to meet the rapidly changing expectations of consumers.”

Additionally, the institution also announced a nine-member IDFC Bank board with former Union Home Secretary Anil Baijal as the Non-Executive Chairman and Dr. Rajiv Lall as the Executive Vice Chairman and Managing Director.

Dr. Rajiv Lall further added, “We are fortunate to have an experienced and diverse team as part of the Board and Management. It provides strong reassurance about the quality of strategic and operational guidance available to IDFC Bank."‎

Apart from Anil Baijal and Dr. Rajiv Lall at the helm, the other members of the Board include former Controller and Auditor General, Vinod Rai; ‎Infosys Chair Professor for Agriculture at ICRIER, Ashok Gulati; former Managing Director for operations at the World Bank, Gautam Kaji‎; former Goldman Sachs Managing Director; Ajay Sondhi; former Citibank India CFO, Abhijit Sen; Founder of Swadhar Microfinance, Veena Mankar; MD and CEO of IDFC Ltd., Vikram Limaye.

IDFC received final approval from the RBI in July this year, making it the second lender to enter the banking sector after more than a decade.

Post Demerger, all the lending business of IDFC Limited will be demerged and transferred to IDFC Bank. IDFC Limited will continue to be a listed holding company.

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