The bank assured that it would undertake all necessary procedures to finalise Natarajans appointment as an Executive Director. IDFC FIRST Bank announced that the Reserve Bank of India (RBI) has greenlit the appointment of Pradeep Natarajan as a Whole Time Director on its Board. In a regulatory filing on Thursday, the private sector lender stated, "RBI...has granted approval for the appointment of Pradeep Natarajan as a Whole Time Director, with the title of Executive Director, for a term of three years." The bank assured that it would undertake all necessary procedures to finalise Natarajans appointment as an Executive Director. However, it emphasized that shareholder approval is requisite for the appointment.

IDFC FIRST Bank

RBI approves appointment of Pradeep Natarajan as Whole Time Director for IDFC FIRST Bank

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IDFC FIRST Bank appoints Pradeep Natarajan as Executive Director

IDFC FIRST Bank said that its Executive Director Madhivanan Balakrishnan has tendered his resignation. IDFC FIRST Bank said that its Executive Director Madhivanan Balakrishnan has tendered his resignation, with effect from December 06, 2023. In addition, it added, Madhivanan Balakrishnan will cease to be SMP of the Bank w.e.f. December 15, 2023. "The Nomination & Remuneration Committee and the Board of Directors of the Bank (Board) at their respective meetings held today has accepted the said resignation and shall relieve him from his duties in the capacity of Executive Director with immediate effect from the close of business hours on December 06, 2023. He continues to serve the Bank for necessary handovers until December 15, 2023," the bank said in a regulatory filing on Wednesday. Due to this, IDFC FIRST Bank said tha there will be certain changes in the Senior Management Personnel (SMP), with nine existing personnel of the Bank ceasing to be SMP. The Board conveyed its "sincere gratitude and appreciation for the valuable contributions" made by Madhivanan Balakrishnan during his 4 years of association with the Bank since 2019. It further informed that the Board discussed that the Bank would evaluate a suitable internal candidate to be appointed as the Whole time Director (Executive Director) of the Bank. In his resignation letter, Madhivanan Balakrishnan said, "I have been with the Bank for 4 years since 2019 and have enjoyed every day since. During this period, the Bank has progressed very well, and it is amazing to see the transformation of the Bank into a strong institution with stable and diversified income streams and high asset quality." "I am also happy that the Bank is also highly profitable now with a Profit After Tax (PAT) of over Rs 2,400 in FY23. I feel privileged that I could play a role in the progress of the Bank, and I am thankful for the opportunity," he added. Madhivanan Balakrishnan said that he has come across an opportunity in the healthcare sector which, he added, fits with his long-term family plans. "Further, I would like to share that I am in my mid-fifties, and this is the stage when my children are going overseas for education, and with upcoming life-stage expenses of children. The opportunity I am exploring has higher compensation which would be useful for me in this life stage," he said.

IDFC FIRST Bank Executive Director Resigns, Effective December 06, 2023

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<h1>IDFC FIRST Bank appoints Jaimini Bhagwati on board as additional director.</h1><div> IDFC FIRST Bank on Friday said its board has approved the appointment of former economist and IFS officer Jaimini Bhagwati as an additional director on its board for three years. Based on the recommendation of the nomination and remuneration committee, the board of directors of the bank has approved the appointment of Jaimini Bhagwati, as an additional director, in the category of non-executive non-independent director of the bank, the bank said in a regulatory filing.</div><div> Large NBFCs, HFCs to bring velocity in co-lending space: CredAvenue CEO Gaurav Kumar, founder and chief executive officer of CredAvenue, picks out "three themes" as to why co-lending will be the biggest asset class going forward. "Today, in co-lending, the biggest trend-setters are the largest HFCs and NBFCs.. who are going to bring in a lot of velocity to this product, which was missing last year," he said. Kumar talks about co-lending, the companys stragey, business, and much more.. Tune in and watch our FinTech Diary interview.</div>

IDFC FIRST Bank | Jaimini Bhagwati | | Non-Executive Non-Independent Director | ASIAPAC

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IDFC First Bank

Pradeep is currently the Head of Retail Banking at IDFC FIRST Bank, a position he assumed in April 2022. Prior to this, he served as Head- Retail Assets at the same company since January 2019. Before joining IDFC FIRST Bank, he held the role of President- Consumption Finance, Marketing & Digital Initiatives at Capital First Limited from May 2017. He also worked as Head- Consumer Durable Loans, Store Distribution & Marketing at Capital First Limited starting in November 2010. Earlier in his career, he was a Director-Sales & Marketing at Religare Macquarie Private Wealth from September 2008 to October 2010. Pradeeps experience also includes serving as Director- Small & Medium Business at Dell India Pvt Ltd from September 2007 to September 2008. Prior to that, he held various leadership roles at Standard Chartered Bank from 1999 to 2007, including Business Head- Personal Loans and Business Head- Installment Loans. Pradeep completed his studies at Sydenham Institute of Management Studies (1996 - 1998) and Kendriya Vidyalaya (1980 - 1990).

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IDFC FIRST Bank appoints Pradeep Natarajan as Executive Director

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