RBI Extends Tenure of IDFC First Bank MD V Vaidyanathan by Three Years

The Reserve Bank of India has approved the re-appointment of V Vaidyanathan as Managing Director and CEO of IDFC First Bank for another three years, effective from December 19, 2024, to December 18, 2027. This extension follows a proposal from the bank's board in April 2024.

In a significant development, the Reserve Bank of India (RBI) has approved the extension of V Vaidyanathan's tenure as Managing Director (MD) and Chief Executive Officer (CEO) of IDFC First Bank for an additional three years.

The approval, communicated on September 19, 2024, allows Vaidyanathan to continue in his leadership role from December 19, 2024, through December 18, 2027. The decision follows a recommendation from the bank's board of directors on April 27, 2024.

Vaidyanathan initially assumed the position of MD and CEO in December 2018, after the merger of Capital First and IDFC Bank, leading the institution through a significant phase of growth and transformation.

(With inputs from agencies.)