23 March 2024 – V Vaidyanathan, the Managing Director and CEO of IDFC First Bank, has once again showcased his philanthropic spirit by gifting shares worth Rs 5.5 crore to individuals in need. His gesture of generosity, totaling 7 lakh shares, reflects his commitment to making a positive impact beyond the boardroom.
Vaidyanathan’s act of kindness includes allocating shares to aid in various aspects of recipients’ lives. Notably, 50,000 shares were earmarked for Sameer Mhatre to assist in purchasing a residence, while 75,000 shares were granted to Mayank Mrinal Ghosh to support family members during a challenging time. Moreover, Vaidyanathan extended medical assistance to Wg. Cdr. (Rtd.) Sampath Kumar, tracing back to a Rs 1,000 loan extended by Kumar to Vaidyanathan long ago.
This philanthropic endeavor underscores Vaidyanathan’s commitment to social responsibility and supporting those in need. With a significant stake in IDFC First Bank, his generous actions have already made a substantial impact, totaling around Rs 80 crore worth of shares gifted to individuals.
