Bank Board Bureau chairman and the former comptroller and auditor general Vinod Rai has stepped down from IDFC Bank’s board with effect from 1 August. A news report said the decision is to avoid conflict of interest Rai is also the chairman of BBB which will not only select board members of public sector banks but will also devise strategies for them. However, he will continue to be the non-executive independent chairman of IDFC Ltd. Rai was nominee director from IDFC Ltd. in IDFC Bank board. He was on IDFC Bank board since its inception in October 2015.
