PM Narendra Modi inaugurated IDFC Bank

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Who: PM Narendra Modi
Where: New Delhi
What: Inaugurated IDFC Bank
When: 19 October 2015

Prime Minister Narendra Modi on 19 October 2015 inaugurated the IDFC Bank in New Delhi.

IDFC Bank Limited, which started its operations on 1 October 2015, is an Indian Banking company with headquarters in Mumbai that forms a part of IDFC, an integrated infrastructure finance company.

IDFC Bank was granted a universal banking license in July 2015 by the Reserve Bank of India (RBI).

IDFC was incorporated on 30 January 1997. It founded a non-operative financial holding company (NOFHC) in 2014 to manage its five subsidiaries IDFC Bank, IDFC MF, IDFC Alternatives, IDFC IDF & IDFC Securities to conform with RBI guidelines.