RBI allows IDFC to exit 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'".  

Mumbai: The Reserve Bank of India had allowed IDFC to exit the 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'". Accordingly, the company can now exit as promoter of IDFC First Bank, as the five year lock-in period has ended.