IDFC Bank Starts Operations with 23 branches from today Thursday Oct 01,2015

IDFC which received Banking Licence from RBI in July 2014  will formally kick-start operations on October 01,2015 with 23 branches and 15 of those will be in three districts of Madhya Pradesh and the remaining 5 branches would be in metropolitan cities like Delhi and Mumbai

Vinod Rai,former Comtroller and Auditor General of India will be the Non Executive  Chairman of IDFC Bank

IDFC has 3 finance subsidiaries -

• IDFC AMC
• IDFC Alternatives and
• IDFC Securities

it has to create a non-operative financial holding company(NOFHC)under IDFC and the 3 finance subsidiaries will have tot be under NOFHC,a 100% subsidiary of IDFC