Wednesday, July 21, 2021

RBI allows IDFC to exit as promoter of IDFC First Bank

The Reserve Bank of India (RBI) allowed IDFC to exit as the promoter of IDFC First Bank. In a regulatory filing made to the BSE, IDFC said that the RBI on July 20 clarified that "after the expiry of lock-in period of 5 years, IDFC Limited can exit as the promoter of IDFC First Bank Limited."

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