IDFC Surges Nearly 10% as RBI Eases Infra Bond Sale Norms

Shares in IDFC Ltd gained as much as 10 per cent today after the Reserve Bank of India on Tuesday issued new guidelines under which banks would be exempted from reserve requirements when raising long-term bonds for infrastructure. IDFC, the infrastructure lender that obtained a banking license in April, is seen as one of the main beneficiaries of the measures. Vikram Limaye, managing director and chief executive officer of ID...