Speculation about change in leadership false: IDFC Bank

By: | Published: November 2, 2017 2:45 AM

Private sector lender IDFC Bank said speculation on social media with regard to a change in leadership is "false".

IDFC Bank, leadership change false, leadership change speculation, Rajiv LallPrivate sector lender IDFC Bank said speculation on social media with regard to a change in leadership is ?false?.

Private sector lender IDFC Bank said speculation on social media with regard to a change in leadership is “false”. The bank further said “these speculative observations seem to have been circulated with the malafide intention of misleading investors and the general public”. “…there has been speculation in a section of social media with respect to a change in leadership at IDFC Bank. We would like to clarify that these reports and market speculation stemming from it, pertaining to a change in leadership, are false,” it said in a regulatory filing.

“The Board of IDFC Bank Limited is completely aligned with the strategic direction set by Rajiv Lall, Founder Managing Director & CEO, and the business plans spearheaded by him and his executive team,” the filing further said. The clarification follows speculation that there may be change in leadership with someone from the Citi Bank being roped in for the top job.

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