The Reserve Bank of India (RBI) on Thursday approved the re-appointment of V Vaidyanathan as MD, CEO of IDFC First Bank for a period of three years effective from December 19, 2024, to December 18, 2027.
“We wish to inform you that the RBI vide its communication dated September 19, 2024, has granted its approval for re-appointment of Mr. V. Vaidyanathan as the MD & CEO of the Bank for a period of three years effective from December 19, 2024, to December 18, 2027. We request you to kindly take the same on record,” the lender said in an exchange notice.
Vaidyanathan worked with Citibank and ICICI Bank before founding Capital First in 2012. In 2018, he merged Capital First with IDFC Bank and became the MD, CEO of the merged entity, then renamed IDFC FIRST Bank.
IDFC First Bank’s overall deposit stood at ₹2.09 trillion as on June end, up 36 per cent year-on-year (Y-o-Y), while total advances rose 22 per cent Y-o-Y to ₹2.09 trillion during the same period.