IDFC, an integrated infrastructure finance player and project implementation services provider, announced the appointment of Sriraman Jagannathan as chief digital & data officer. He will be responsible for building the digital framework, embedding a digital culture and driving the digital transformation across all parts of the proposed IDFC bank covering all products, clients and employees.

Commenting on this appointment Rajiv Lall, executive chairman, IDFC said, ''Technology today has become synonymous with banking, and made a visible difference in the functioning of banks internationally. Banks have benefitted immensely due to scaling up of business and growth in volumes, and customers too have benefited with improvement in service quality. Sriraman will help us focus on two major aspects in the proposed IDFC Bank - creating new age customer delight and driving digital business transformation.''

''I am excited to be part of the proposed IDFC Bank and this position will allow me to leverage my retail banking and telecom experience to drive new and innovative mobile & online products & services for IDFC Bank and make banking with the proposed IDFC Bank the best banking experience for clients across India,'' said Sriraman.

Shares of the company declined Rs 1.35, or 0.93%, to trade at Rs 143.30. The total volume of shares traded was 330,052 at the BSE (1.23 p.m., Tuesday).