IDFC has informed the exchanges that the shareholders have approved the de-merger of IDFC into IDFC Bank. Each IDFC shareholder will get one share of IDFC Bank. With the shareholder approval in place IDFC is on track to start the banking operations from Oct 1, 2015 as planned. IDFC has already received RBI approval and the effective date of de-merger is likely to be within one and half a months.
IDFC is already complaint with the reserve (more…)