IDFC Bank the Honorable National Company Law Tribunals of Mumbai and Chennai have approved the merger of Capital First Ltd. with IDFC Bank Ltd. and with effect from 18th December 2018, Capital First and IDFC Bank will operate as one entity. The merged entity 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. IDFC First BankNSE 1.03 % will now offer retail and wholesale banking products to a greater number of customer segments. V. Vaidyanathan, Founder and Chairman of Capital First will head the bank as managing director and chief executive officer. Rajiv Lall, Founder MD & CEO of IDFC Bank has been appointed as part-time non-executive chairman of IDFC First Bank.
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