Current Affairs - Banking - Discussion

Private sector IDFC Bank and Non-Banking Financial Company (NBFC) Capital First have announced completion of their merger to create IDFC First Bank. Capital First Founder and Chairman V Vaidyanathan has been appointed Managing Director (MD) and Chief Executive Officer (CEO) of the merged entity. IDFC Bank Founder, MD and CEO Rajiv Lall will serve as Part-Time Chairman of IDFC First Bank. It will serve 7.2 million customers through its 203 bank branches, 129 ATMs, 454 rural business correspondent centres across the country's urban and rural geographies.