RBI extends tenure of IDFC First Bank MD for another 3 years

New Delhi, Sep 20 (PTI) Reserve Bank has extended the tenure of IDFC First Bank Managing Director V Vaidyanathan for another 3 years till December 2027.

The Reserve Bank of India (RBI), through its communication dated September 19, 2024, has granted its approval for the re-appointment of V Vaidyanathan as the MD & CEO of the bank for a period of three years effective from December 19, 2024, to December 18, 2027, the bank said in a regulatory filing.

On April 27, 2024, the bank’s board of directors had approved the re-appointment of Vaidyanathan for three years post the expiry of his current term on December 18, 2024.

He took over as the MD and CEO of IDFC First Bank in December 2018, following the merger of Capital First and IDFC Bank.