The Reserve Bank of India (RBI) has approved the reappointment of V Vaidyanathan as MD and CEO of IDFC First Bank for a period of 3 years from 19 December 2024 to 18 December 2027. Vaidyanathan, a banking industry veteran, has played a key role in transforming IDFC First Bank since its inception in 2018 following the merger of IDFC Bank and Capital First. Under his leadership, the bank has focused on expanding its retail loan book, reducing bad loans and promoting a strong customer-centric approach.

Known for his visionary leadership, Vaidyanathan has played a key role in diversifying the bank's portfolio, expanding digital banking services and strengthening its financial performance. The bank's total deposits are Rs 2.09 trillion. Headquartered in Mumbai, IDFC First Bank has become a full-service bank serving retail, corporate and SME customers. As of June-end, IDFC First Bank's total deposits were Rs 2.09 trillion, up 36 per cent year-on-year, while total advances grew 22 per cent to Rs 2.09 trillion during the same period. With its roots in infrastructure financing, the bank now boasts a strong retail banking segment, which has become its primary growth driver under Vaidyanathan's guidance.