In another philanthropic movement, IdFC First Bank Ltd. Managing Director and CEO of Vaidathan have talented equity shares from the bank held by him, worth around Rs 4.83 Crore, to help some staff build their homes and other social causes.
While the talented billionaire bankers of Lakh shares held by him, two other Lakh shares were disposed of by Rukmani Social Welfare Trust, to support social activities, taking a total of up to 11 shares of Lakh, according to the announcement of the Stock Exchange from the IDFC First Bank. It worked around Rs 4.83 Crore at the market price February 21.
The shares were burned by Vaidyanathan to five people, including a driver, a coach, support staff and several houses helped.
“The recipient is a personal relationship and is not associated with it in any way under the definition of the relevant parties who act on laws or regulations Sebi,” said IDFC First Bank. This transaction is without consideration and “there is no direct or indirect benefit that is revealed by Mr. V. Vaidyanathan of these transactions.”
Executive is the trustee of Rukmani’s social welfare trust.
Vaidyanathan, who founded the first capital to join the IdFC bank in December 2018 to make the first Bank IDFC, has done this before. In May 2021, he had talented 1.5 lakh shared each of three people to buy a house.
Veteran bankers work with Citibank Consumer Banking from 1990-2000, before moving to establish ICICI Group’s retail banking. In 2010, Vaidyanathan Quit Icici Group for entrepreneurial opportunities to obtain NBFC (non-banking financing companies) with the idea of turning it into a bank, which focuses on consumer loans and MSMEs.
