RBI allows IDFC to exit IDFC First Bank as five-year lock-in period ends
The IDFC Bank was created by demerger of the infrastructure lending business of IDFC to IDFC Bank in 2015
The Reserve Bank of India (RBI) has allowed IDFC to exit the IDFC First Bank. The RBI has clarified that after the expiry of lock-in period of 5 years, IDFC can exit as the promoter of ‘IDFC FIRST Bank’. Accordingly, the company can now exit as promoter of IDFC First Bank, as the five year lock-in period has ended. The IDFC Bank was created by demerger of the infrastructure lending business of IDFC to IDFC Bank in 2015.
IDFC is the country’s leading integrated infrastructure finance player providing end to end infrastructure financing and project implementation services.