1.Reserve Bank of India (RBI) has clarified that IDFC (Infrastructure Development Finance Company) Limited can exit as the promoter of
IDFC First Bank Limited after the expiry of lock-in Period of 5 years which already ended on September 30, 2020.
2.RBI in exercise of powers vested in RBI under provisions of Section 47 A (1) © read with Section 46 (4) () and Section 56 of the Banking Regulation Act, 1949 (AACS-As Applicable to
Cooperative Societies) imposed a monetary Penalty of Rs 1 lakh on Melur Co-operative Urban Bank Ltd. Located in Melur, Madurai District, Tamil Nadu.
About IDFC FIRST Bank:
Establishment- In 2018, by merging erstwhile IDFC Bank and former Capital First.
Managing Director (MD) & CEO (Chief Executive Officer)- V. Vaidyanathan
Headquarters- Mumbai, Maharashtra