Former Comptroller and Auditor General (CAG) of India Vinod Rai has stepped down from private sector lender IDFC Bank’s board. However, he will continue to be the non-executive independent chairman of IDFC Ltd. The decision has been taken to avoid conflict of interest as Rai is also the chairman of Bank Board Bureau (BBB). The BBB will not only select board members of public sector banks but will also devise strategies for them.
Mr. Rai was on Mumbai- headquarter IDFC Bank board since its inception in October 2015. He was appointed as the Chairman of Bank Board Bureau on 28 February 2016. He is also the current chairman of UN Panel of External Auditors and Honorary Advisor to the Railways as well as a member of the Railway Kaya Kalp Council. He obtained a master’s degree in Economics from the University of Delhi, and Masters in Public Administration from Harvard University. He was the 11th Comptroller and Auditor General (CAG) of India.
So let’s discuss some questions related to this post:
1. Name the person who has stepped down from IDFC Bank’s board?
2. Where is headquarter of IDFC Bank?
Courtesy: The Hindu