Prime Minister Narendra Modi Inaugrated the IDFC Bank in New Delhi. Union Minister for Finance Shri Arun Jaitley, and Union Minister of State for Finance, Shri Jayant Sinha were present on the occasion. The Prime Minister complimented IDFC for its successful journey of 18 years so far, and said that it was now embarking on a more challenging role, as it expands into banking, especially in the rural areas.

While giving Speech, he focused on the banking sector reforms being undertaken by the Union Government, especially in areas such as senior appointments, creation of a bank board bureau, re-capitalization of banks, de-stressing of assets, empowering bank management through zero-interference, creation of a framework of accountability through Key Performance Indicators, and reform of governance of banks.

About IDFC Bank:

• Headquarters: Mumbai
• Founded: 1st October 2015
• Launched: 19th October 2015
• IDFC Bank started operations with 23 branches in Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and Kolkata.
• MD and CEo: Dr. Rajiv B. Lall