IDFC appoints Avtar Monga as COO

Integrated infrastructure finance company IDFC today appointed veteran banker Avtar Monga as its chief operating officer (COO).
Monga will be responsible for building the operating architecture for the new businesses that IDFC group will launch, the city-based company said.
Monga, who has 32 years of experience in the banking and financial industry, was with Bank of America as senior executive of its global delivery centres of expertise) globally prior to this appointment.
Monga was also with GE Capital India where he led their transport financial services business as its chief executive. He was also the chief executive of their credit card joint venture with State Bank of India.

IDFC, which was set up by the government in 1997 as a private sector infra lender by a consortium of public and private investors, has applied for banking licence, which the RBI will announce by this month-end.
It facilitates private investment and public-private partnerships in infrastructure projects in sectors where market structures, government policy and regulation are evolving.