V Vaidyanathan set to take over leadership of IDFC First Bank after RBI approval

The Reserve Bank has approved the appointment of V Vaidyanathan as MD and CEO of IDFC First Bank for a period of three years, according to a regulatory filing. His tenure is effective from December 19, 2018. Last month, IDFC Bank and non-banking financial company Capital First completed their merger, creating a combined loan asset book of Rs 1.03 lakh crore for the merged entity IDFC First Bank. Following the merger, the board of IDFC First Bank approved the appointment of Vaidyanathan as MD and CEO of the new entity. Prior to this, Vaidyanathan was the founder and chairman of Capital First.