IDFC First Bank Ltd. received RBI's approval to reappoint V. Vaidyanathan as the managing director and chief executive officer of the bank.
Vaidyanathan will hold the position for three years—effective from Dec. 19, 2024, to Dec. 18, 2027, according to an exchange filing on Thursday.
In 2021, he was appointed as the MD and CEO of IDFC First Bank for a tenure of three years effective from Dec. 19, 2021. This marks his second reappointment to this position.
In 2018, Vaidyanathan merged Capital First with IDFC Bank and became the first MD and CEO of the merged entity, later renaming it as IDFC FIRST Bank.
Earlier, IDFC First Bank approved fundraising of Rs 3,200 crore through preferential allotment of shares.
The lender will be issuing 39.68 crore shares to marquee investors at a price of Rs 80.63 per share.
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