The Reserve Bank of India (RBI) has approved the re-appointment of V Vaidyanathan as the managing director and chief executive officer of IDFC First Bank. 

Vaidyanathan will hold the position for three years, from 19 December 2024 to 18 December 2027.

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

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

Previously, he worked with Citibank from 1990 to 2000 and joined ICICI Bank in 2000, where he set up its retail banking division. He also served as the MD and CEO of ICICI Prudential Life Insurance in 2009. In 2012, he founded Capital First.