About Us

IDFC Foundation is a wholly-owned subsidiary of IDFC and was set up in March 2011 as a not-for-profit company under Section 25 of the Companies Act, 1956 to oversee and coordinate the CSR activities being pursued by IDFC Group. These activities are currently limited to IDFC Institute, an independent, not-for-profit, think/do tank based in Mumbai. The Institute creates research and toolkits focused on understanding and supporting India’s development as it transitions to a formal industry- and service-led economy. Its work is wholly in the public domain, available at its website: www.idfcinstitute.org

Effective April 2014, (post the enactment of the Companies Act, 2013), IDFC Foundation has been acting as the Implementing Agency for the CSR agenda of IDFC Group.

IDFC Institute

IDFC Institute is an independent, not-for-profit, think/do tank, focusing primarily on two broad areas of research/action: a) development and job creation in the context of India’s transition from farm to non-farm, rural to urban and informal to formal economic activity; and b) improving the delivery of essential services (such as infrastructure).

The Institute produces evidence-based, actionable research and diagnostic tools that can contribute towards bringing about meaningful change. All of the Institute’s work is in the public domain and freely accessible through the website www.idfcinstitute.org


  • Sustainability
  • Financial
  • Related party
    transactions policy
  • Whistle blower

Sustainability report

Our endeavor is to always make sure that our day-to-day activities have positive economic, environmental and social impacts. You can view our sustainability reports by downloading them.

Financial Report

You can view our Financial Statements here

Related party transactions policy

We have always been committed to good corporate governance practices, including matters relating to Related Party Transactions. You can view our policy here

Whistle blower policy

Joint ventures

IDFC Foundation also oversees the operations of the joint ventures with the State Governments of Karnataka and New Delhi. These are:

(i) Infrastructure Development Corporation (Karnataka) Limited (iDeCK); and

The importance of well-planned, future-ready infrastructure and infra projects was the catalyst for Infrastructure Development Corporation (Karnataka) Limited (iDeCK). A joint venture between IDFC Foundation, Government of Karnataka (GoK) and Housing Development Finance Corporation Limited (HDFC), iDeCK is built on the stability of a dynamic government department and the impetus of pioneers in infrastructure strategy. Since the year 2000, iDeCK has been working closely with governments, its departments and agencies as well as private sector clients across the globe for development of infrastructure in transportation, tourism, urban development, social infrastructure, industrial infrastructure and renewable energy. iDeCK also assists governments in the policy development, law making and in capacity building activities".

(ii) Delhi Integrated Multi-Modal Transit System Limited (DIMTS).

A joint venture between IDFC Foundation and Government of National Capital Territory of Delhi (GNCTD), DIMTS provides specialised end-to-end policy, technical and transaction advisory solutions in the transportation realm. It assists the Government and private clients in the development and improvement of public transport systems in several cities across India and in developing countries through a range of services like Transport planning, Intelligent Transport Systems, Infrastructure Engineering, Railways, Transport Technologies, Information technology, Transaction Advisory and operations. It has been generally acknowledged that the involvement of these agencies has made a substantial difference to the way PPPs have been used to develop infrastructure in India.


Sr No Donor name Address Amount (INR) Date of Receipt
1 Omidyar Network Fund Inc., USA 1991, Broadway, Suite 200, Redwood City, CA 94063 11,391,120.00 17.05.2021
2 Rockefeller Foundation, USA 420 Fifth Avenue New York NY 10018 2702 , United States of America 1,476,382.00 30.07.2021
Total 12,867,502.00


Sr No Donor name Address Amount (INR) Date of Receipt
1 Rockefeller Foundation, USA 420 Fifth Avenue New York NY 10018 2702, United States of America 28,974,985.84 21.12.2020
2 The University Of Oxford University of Oxford, Wellington Square, Oxford OX1 2JD, United Kingdom 1,406,705.24 28.01.2021
3 Rockefeller Foundation, USA 420 Fifth Avenue New York NY 10018 2702, United States of America 2,152,441.20 08.02.2021
Total 32,534,132.28


Sr No Donor name Address Amount (INR) Date of Receipt
1 Omidyar Network Fund Inc., USA 1991, Broadway, Suite 200, Redwood City, CA 94063 41,543,480.70 13.05.2019
2 Rockefeller Foundation, USA 420 Fifth Avenue New York NY 10018 2702, United States of America 13,785,448.56 18.06.2019
3 Bill & Melinda Gates Foundation (BMGF), USA 500 Fifth Avenue North Seattle, Washington 98109, United States of America 11,545,624.06 13.11.2019
4 Omidyar Network Fund Inc., USA 1991, Broadway, Suite 200, Redwood City, CA 94063 31,257,600.00 17.02.2020
Total 98,132,153.32


Sr No Donor name Address Amount (INR) Date of Receipt
1 Rockefeller Foundation, USA 420 Fifth Avenue New York, NY 10018-2702 21,752,419.92 17.10.2018
2 Ford Foundation, USA 320 East 43rd Street, New York, NY 10017 20,222,608.32 09.11.2018
Total 41,975,028.24


Sr No Donor name Address Amount (INR) Date of Receipt
1 Rockefeller Foundation, USA 420 Fifth Avenue New York, NY 10018-2702 9,575,489.28 19.07.2017
2 Water.org, USA 117 W. 20th Street, Suite 203, Kansas City, MO 64108, USA 9,200,000.00 12.09.2017
3 Ford Foundation, USA 320 East 43rd Street, New York, NY 10017 6,699,839.04 31.01.2018
Total 25,475,328.32

Contact us

Registered Office:

IDFC Foundation
Ansal Chamber 1,
3 Bhikaji Cama Place,
New Delhi - 110066.
Tel.:+91 11 4331 1000

Email us at : foundation@idfc.com

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Connect with us

Anil Baijal

Anil Baijal


Mr. Anil Baijal joined the Indian Administrative Service in 1969. He retired from the service in October, 2006 as Secretary, Ministry of Urban Development, Government of India. While in that Ministry, he anchored the designing and roll-out of the flagship programme of Jawahar Lal Nehru National Urban Renewal Mission (JNNURM) with federal grant equivalent of about Rs. 60,000 crore, for improvement of infrastructure and provision of basic services in urban areas of India.

In his long service career spanning over 37 years, Mr. Baijal held various important assignments like that of the Union Home Secretary, Chairman & Managing Director, Indian Airlines, Chief Executive Officer, Prasar Bharti Corporation (Broadcasting Corporation of India), Vice-Chairman, Delhi Development Authority, Development Commissioner, Goa and Counselor in-charge of Indian Aid Programme in Nepal.

Dr. Ashok Gulati

Dr. Ashok Gulati


Dr. Ashok Gulati is currently Infosys Chair Professor for Agriculture at the Indian Council for Research on International Economic Relations (ICRIER), which he joined in March, 2014. During March 2011-February 2014, he was Chairman of the Commission for Agricultural Costs and Prices (CACP), a body responsible for recommending Minimum Support Prices (MSPs) of 23 important agri-commodities to Government of India. Prior to this, Dr. Gulati was Director at the International Food Policy Research Institute (IFPRI) for more than 10 years (January 2001-February 2011).

Before joining IFPRI, he also served as NABARD Chair Professor at the Institute of Economic Growth, and Chief Economist at the National Council of Applied Economics Research in India. He has his M.A. and Ph.D. in Economics from the Delhi School of Economics (India). Dr. Gulati has been deeply involved in agri-policy analysis and advice in India. He has been a member of the Prime Minister’s Economic Advisory Council; a member of the State Planning Board of Karnataka; and a member of the Economic Advisory Committee of the Chief Minister of Andhra Pradesh; and a member of several expert committees from time to time. He has to his credit more than 10 books on issues related to Asian Agriculture (with a focus on India) from publishers of repute such as Johns Hopkins University Press, Oxford University Press, Mac Millan, Academic Foundation, etc. He has published widely in international and Indian journals, and is a prolific writer in media as well.

He has been recently awarded Padma Shri by the Government.

Sunil Kakar

Sunil Kakar


Mr. Sunil Kakar is the Managing Director & CEO of IDFC Limited. He started his career at Bank of America where he worked for 18 years in various roles, covering Business Planning & Financial Control, Branch Administration and Operations, Market Risk Management, Project Management and Internal Controls. As a CFO from 1996 to 2001, Mr. Kakar spearheaded the Finance function at Bank of America in India. After Bank of America, Mr. Kakar was the CFO at Max New York Life Insurance Company since 2001. He led numerous initiatives including Planning, Investments / Treasury, Finance and Accounting, Budgeting and MIS, Regulatory Reporting and Taxation. As part of the start-up team in Max New York Life, Mr. Kakar was a key part of core group which led the successful development of the insurance business.

He joined IDFC in 2011 as the Group Chief Financial Officer and was responsible for Finance & Accounts, Business Planning and Budgeting, Investor Relations, Resource Raising and IT. He was also a member of IDFC Group’s Management Committee. After the demerger of IDFC Ltd and IDFC Bank, he moved to the bank as one of the founding members that led the transition of IDFC into a universal bank. He was a member of the Executive Committee of the bank and led Strategic Planning & Budgeting, Finance & Accounts and Investor Relations at IDFC Bank. Mr. Kakar holds an MBA in Finance from XLRI and a degree in engineering from IIT Kanpur.

Dr. Rajiv Lall

Dr. Rajiv Lall


Dr. Rajiv Lall is Founder MD & CEO of IDFC Bank since October 1, 2015. Previously, he was Executive Chairman of IDFC Limited.

In his current role at IDFC Bank, Dr. Lall is leading the Bank’s strategy to drive financial inclusion at scale, a key pillar of which is to use technology.

A veteran economist for 30 years, Dr. Lall has been an active part of the finance and policy landscape, both in India and internationally. In his diverse career, he has also held leadership roles in global investment banks and multilateral agencies.His expertise spans project finance, private equity/venture capital, international capital markets, trade, infrastructure and macroeconomic policy issues, with a particular focus on emerging markets including India and China.

Dr. Lall has served on numerous committees of the Government of India and the Reserve Bank of India, including the Raghuram Rajan Committee on Financial Sector Reforms, the High Powered Expert Committee forUrban Infrastructure, the High Level Committee on Financing Infrastructure and theExpert Committee on Modernisation of Indian Railways. He has also servedas India’s representative to the G-20 Working Group on Infrastructure.

Dr. Lall is member of the National Council of the Confederation of Indian Industry (CII) and ASSOCHAM; the Asia Business Council and the City of London Advisory Council for India. He was also President of the Bombay Chamber of Commerce & Industry.

Outside of business related for a, Dr. Lall serves on the Advisory Board of Columbia University Global Centers, South Asia; is a member of the Founders Circle, Brookings, India. He is also Convenor of the Social Impact Council of India and is Founder Chairman of Lok Foundation.

Prior to joining IDFC, Dr. Lall was variously, a Partner with Warburg Pincus in New York; Head of Asian Economic Research with Morgan Stanley in Hong Kong; a senior staff member of the World Bank in Washington, D.C. and of the Asian Development Bank in Manila, as well as faculty member of the Florida Atlantic University Department of Economics.

He is an active speaker and columnist on macro-economic and public policy issues. Dr. Lall earned his BA in politics, philosophy and economics from the Oxford University, and holds a Ph.D. in Economics from Columbia University.

Vikram Limaye

Vikram Limaye

Non-Executive Director

Mr. Vikram Limaye is the Managing Director & CEO of IDFC Limited. He has over 25 years of experience working with Financial Institutions, Global Investment Banks, International Commercial Banks and Global Accounting firms.

Prior to joining IDFC in 2005, Mr. Limaye served Credit Suisse First Boston (CSFB) in U.S.A. in a variety of roles in Investment Banking, Capital Markets, Structured Finance and Credit Portfolio Management. He began his corporate career with Arthur Andersen in Mumbai, after which he worked with Ernst & Young and Citibank N.A. in the Business Advisory Services Group and Global Consumer Banking Group respectively.

Mr. Limaye has broad-based experience across various areas of the financial services landscape. He has been on various boards, government committees and committees of various industry associations.

Mr. Limaye is a Chartered Accountant and holds an MBA degree from the Wharton School of the University of Pennsylvania, U.S.A.

Veena Mankar

Veena Mankar

Independent Director

Ms. Veena Mankar is a Banking and Financial Services professional with expertise in trade and structured finance, financing for MSMEs and microfinance. She has over 35 years of experience in financial services with banks and financial institutions and as a strategic consultant. She was appointed on the Board of IDFC Bank as an Independent Director w.e.f July 27, 2015. She is the Founder of three entities under the Swadhaar brand, set up with the objective of promoting financial inclusion, including a non-profit that provides financial literacy training. She is the Chairperson of two of the entities, Swadhaar FinServe Pvt. Ltd, an NBFC-MFI and Swadhaar Information & Management Services Pvt. Ltd., a Business Correspondent. She is also a Director on the Board of Liberty Videocon General Insurance Co. Ltd. She started her career in 1975 with ICICI, the development finance institution in India, and precursor of the present day ICICI Bank, which was followed by commercial banking experience in Dubai. She set up and headed the Indian Representative Office of West LB, a German state-owned bank and thereafter was the founding MD of a Factoring Non-Banking Financial Company, a joint venture of the same Bank with two other financial institutions (including IFC, Washington).

She later advised FIM Bank, Malta on their global factoring strategy and assisted in setting up specialised joint ventures in Dubai and Egypt, where she also served as FIM Bank’s Nominee Director on the Boards of these joint ventures companies. In the past, she has been on the Governing Board of Sa-Dhan, the Association of Microfinance & Community Development Institutions in India.

She has a BA in Economics from Lady Shree Ram College, Delhi and a post-graduation in Business Administration from the Indian Institute of Management, Ahmedabad.

Reuben Abraham

Reuben Abraham

Acting CEO- IDFC Foundation

Reuben Abraham is founding CEO at IDFC Institute, a Mumbai based think/do tank focused on state capacity and political economy. He is also a non-resident scholar at the Marron Institute at New York University, a senior fellow at the Milken Institute, and an honorary advisor to the New Zealand government at the New Zealand Asia Foundation. In 2018, he was selected to Open Magazine's List of 50 Open Minds of India.

Before IDFC, he was faculty and Executive Director of the Centre for Emerging Markets Solutions (CEMS) at the Indian School of Business (ISB). In 2012, he was named to Wired Magazine’s “Smart List 2012: 50 people who will change the world.” He was selected as a Young Global Leader for 2009 by the World Economic Forum, where he serves on the Global Futures Council on The Future of Cities and Urbanization.

He is a member of the international advisory board of Unicredit Bank of Italy; the boards of India’s Centre for Civil Society; Advocata, a Sri Lankan think tank; THNK, The Amsterdam School of Creative Leadership; FHRS, an affordable housing firm; Climate Policy Foundation; the steering committee of GSM Association's (GSMA) Interact Group; and on the investment committee of Endiya Partners, an Indian deep-tech venture fund. For a decade, he served as an independent director at the Soros Economic Development Fund (SEDF), a global impact investing pioneer.

He completed his M.A., M. Phil and Ph.D. from Columbia University. During his time at Columbia, he was an Associate Fellow in Global Economics at the Council on Foreign Relations, a Fellow of the Public Policy Consortium and a Sloan Foundation/CITI Telecommunications Fellow.