IDFC announces board members and management team for IDFC Bank
Infrastructure finance company, IDFC Ltd named board members and a new management team consisting both of insiders and external hires, to lead its banking venture, IDFC Bank Ltd. The nine-member board of IDFC Bank will be led by Rajiv Lall as the executive vice-chairman and managing director, while the former union home secretary Anil Baijal will be the non-executive chairman on the board. Lall is currently the executive chairman of IDFC Ltd. “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,” Lall said. The announcement comes ahead of IDFC’s plans to start lending business through IDFC Bank Ltd., from October 1.