NewsVoir | 24 Sep, 2015
IDFC, Indiaâs leading integrated infrastructure finance institution, today unveiled the brand identity, and announced the Board of Directors and Management team of its new entity, IDFC Bank.
Speaking on the occasion, Dr. Rajiv Lall, Executive Vice Chairman and Managing Director, IDFC Bank said âA brand isnât just advertising or a message that we promote. It has to be a philosophy we believe and live every day to ensure our customers experience it in what we say and do. We were keen on a logo that captures the vibrant colours of our nation. Our new logo reflects this diversity and is symbolic of the upcoming colours of change in banking to meet the rapidly changing expectations of consumersâ.
IDFC Bankâs identity is the first and most visible indication that it wants to be a bank unlike any other. The palette is bright, warm with violet, yellow, pink and orange that symbolizes transformation, energy, youth and optimism â the qualities of modern India. The colours are translucent to capture the transparency in IDFC Bankâs DNA.
Additionally, the institution also announced a nine-member IDFC Bank board with former Union Home Secretary Mr. Anil Baijal as the non-executive chairman and Dr. Rajiv Lall as the Executive Vice Chairman and Managing Director. Dr. Rajiv Lall, further added, âWe are fortunate to have an experienced and diverse team as part of the Board and management. It provides strong reassurance about the quality of strategic and operational guidance available to IDFC Bank"â.
Apart from Mr. Anil Baijal and Dr. Rajiv Lall at the helm, the other members of the Board include former Controller and Auditor General, Mr. Vinod Rai; âInfosys Chair Professor for Agriculture at ICRIER, Mr. Ashok Gulati; former Managing Director for operations at the World Bank, Mr. Gautam Kajiâ; former Goldman Sachs Managing Director; Mr. Ajay Sondhi; former Citibank India CFO, Mr. Abhijit Sen; Founder of Swadhar Microfinance, Ms. Veena Mankar; MD and CEO of IDFC Ltd., Mr. Vikram Limaye.
IDFC received final approval from the RBI in July this year, making it the second lender to enter the banking sector after more than a decade.
Post Demerger, all the lending business of IDFC Limited will be demerged and transferred to IDFC Bank. IDFC Limited will continue to be a listed holding company.
About IDFC Bank:
IDFC Bank, the latest entrant in the private sector banking space in India, will be launching its operations on October 1, 2015. IDFC Bank will provide solutions to Corporate, Urban and Rural Customers across India. IDFC Bankâs vision is to deliver banking anytime, anywhere at scale by using technology to relentlessly drive efficiency and set new standards for customer experience and convenience. As a universal bank IDFC Bank will continue to support the infrastructure sector, just as IDFC has done successfully since its inception in 1997. In addition, it will now focus on two under-served customer segments: the rural under-banked and the self-employed.
With best in class corporate governance and rigorous risk management systems, a highly experienced management team, a strong balance sheet size, and a diversified workforce, IDFC Bank is uniquely positioned to build a differentiated banking proposition.