Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessAnnouncements

IDFC: Updates on setting up of payment bank

IDFC Ltd has informed BSE that IDFC has entered into Non Binding Letter of Intent with Shri. Dilip Shantilal Shanghvi and Telenor Financial Services AS for setting up a Payment Bank wherein IDFC and/ or its affiliates would be holding 19.99% stake.

August 20, 2015 / 10:53 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

With reference to the Press Release dated August 19, 2015 issued by the Reserve Bank of India (“RBI”) announcing the names of the entities to whom the In-Principle approval was granted to set up payments banks. Shri. Dilip Shantilal Shanghvi is one of the successful applicants who have been awarded the "In principle” approval for setting up a “Payment Bank”.In this regard, IDFC Ltd has informed BSE that IDFC has entered into Non Binding Letter of Intent with Shri. Dilip Shantilal Shanghvi and Telenor Financial Services AS for setting up a Payment Bank wherein IDFC and/ or its affiliates would be holding 19.99% stake.Source : BSE

Read all announcements in IDFC

first published: Aug 20, 2015 10:53 am

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347