IDFC Bank seeks to benefit from new licence norms

MUMBAI: IDFC Bank on Tuesday said it is in discussion with regulators the possibility of simplifying its structure to take advantage of RBI’s new guidelines for

MUMBAI: IDFC Bank on Tuesday said it is in discussion with regulators the possibility of simplifying its structure to take advantage of RBI’s new guidelines for on-tap licences of banks, which does away with the need for promoters of a bank having to go through a non-operating financial holding company to get a banking licence. IDFC had to form a 100% subsidiary, IDFC Financial Holding Company, which owns 52.95% of IDFC Bank; the remaining are held by retail shareholders.

HT Image