IDFC was incorporated on 30 January 1997 with its registered office in Chennai and started operations on 9 June 1997. In 1998 the company registered with the Reserve Bank of India (RBI) as a non-banking financial company and in 1999 it formally became a Public Financial Institution.   To conform with RBI guidelines IDFC founded a non-operative financial holding company (NOFHC) in 2014 to manage its five subsidiaries IDFC Bank, IDFC MF, IDFC Alternatives, IDFC IDF & IDFC Securities. IDFC is the holding company for NOFHC IDFC Projects Ltd and IDFC Foundation. IDFC Bank started operations with 23 branches in Madhya pradesh , Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and Kolkata. 15 branches are in settlements with a population of less than 10,000.      Prime Minister Narendra Modi formally inaugurated IDFC Bank on 19 October 2015. IDFC Bank Ltd. (Infrastructure Development Finance Company) is an Indian banking company with headquarters in Mumbaithat forms part of IDFC, an…