Mr. Vinod Rai who has been an Independent Director, now been appointed as the Non-executive (Independent) Chairman of the Board of Directors of IDFC Limited at its Board Meeting held on Saturday, October 31, 2015.
Mr. Rai has also been appointed as Non-executive Chairman of the Board of Directors of IDFC Financial Holding Company Limited at its Board Meeting held on Saturday, October 31, 2015.
Mr. Vinod Rai was the former Comptroller and Auditor General of India. Mr. Rai has wide experience of working in various capacities at both, the Central and State Governments. His previous position was as Secretary in the Ministry of Finance – GoI, where he was responsible for managing the Financial Services sector, including banks and insurance companies. He had been a Director on several Boards including the State Bank of India, ICICI Bank, IDBI Bank, Life Insurance Corporation of India and IDFC. Mr. Rai was instrumental in setting up the India Infrastructure Finance Company Limited and was also on the Board of this company. Mr. Rai has also been the Principal Secretary (Finance) in the State Government of Kerala, apart from holding senior positions in the Ministries of Commerce and Defence, GoI. Mr. Vinod Rai has a Masters Degree in Economics from Delhi School of Economics, University of Delhi. He has a Masters Degree in Public Administration from Harvard University, USA.