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IDFC Bank Ltd (IDFB.NS)

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Summary

Name Age Since Current Position

Veena Mankar

63 2017 Independent Non-Executive Chairman of the Board

Rajiv Lall

58 2015 Chief Executive Officer, Founder, Managing Director, Executive Director

Avtar Monga

2017 Chief Operating Officer, Executive Director

N. S. Rajan

Chief Executive Officer - IDFC Foundation and Group Chief Human Resource Officer, Group Chief Marketing Officer

Mahendra Shah

Chief Compliance Officer, Company Secretary

Pavan Kaushal

Chief Risk Officer

Rajeev Uberoi

General Counsel and Head - Legal & Audit

Ajay Mahajan

Head - Commercial & Wholesale Banking

Ravi Shankar

Head - Bharat Banking

Sunil Kakar

60 2017 Nominee Director of IDFC Ltd

Anindita Sinharay

2017 Nominee Director Government of India

Rajan Anandan

47 2017 Independent Director

Abhijit Sen

65 Independent Director

Anand Sinha

2016 Additional Independent Director

Ajay Sondhi

55 Independent Director

Biographies

Name Description

Veena Mankar

Rajiv Lall

Dr. Rajiv B. Lall is an Chief Executive Officer, Founder, Managing Director, Executive Director of the Company. Dr. Rajiv B. Lall, aged 58 years, was the Executive Chairman of IDFC Limited until September 2015. He has about three decades of experience with leading global investment banks, multilateral agencies and in academia. His areas of expertise include project finance, private equity / venture capital, international capital markets, trade, infrastructure and macroeconomic policy issues with a focus on emerging markets including India and China in particular. Prior to joining IDFC, Dr. Lall was variously, a Partner with Warburg Pincus in New York; Head of Asian Economic Research with Morgan Stanley in Hong Kong; a senior staff member of the World Bank in Washington, D.C. and of the Asian Development Bank in Manila and faculty member of the Florida Atlantic University Department of Economics. Dr. Lall has a number of publications and articles to his credit. He has been a regular columnist with the Business Standard, a leading financial daily in India. He has a BA in Politics, Philosophy and Economics from Oxford University and a Ph.D. in Economics from Columbia University.

Avtar Monga

Mr. Avtar Monga is Chief Operating Officer, Executive Director of the Company. Mr. Avtar Monga has been the Chief Operating Officer of IDFC Bank Limited since March 2014. He has over 35 years of experience in working with Banking and Financial Industry. Prior to joining IDFC Bank, Avtar served with Bank of America as Managing Director for their Global Delivery Centers of Expertise (‘GDCE’) globally. He established Bank's Captives known as BA Continuum across India and led the expansion into Asia and Latin America. In addition to leading a large employee base, he was also responsible for managing strategic partner relationships on behalf of the bank for delivery of Technology and Operations. Prior to re-joining Bank of America in 2003, he worked with GE Capital for 5 years. He was part of India management team to establish their credit card joint venture with State Bank of India. He also served as Chief Executive Officer for GE / SBI JV, GE Capital Business Process Management Ltd. He also served as Chief Executive Officer of GE Capital Transport Financial services Ltd. and was responsible for it’s turnaround. Mr. Avtar holds MBA in Marketing from BIMTECH, Greater Noida and has Masters in Commerce from St. John’s College, Agra University.

N. S. Rajan

Mahendra Shah

Pavan Kaushal

Mr. Pavan Pal Kaushal is a Chief Risk Officer of IDFC Bank Ltd. He is a career banker with about three decades of experience with leading global banks and in consulting. His areas of expertise include Corporate, Retail corporat e gov ernance report 85 and Commercial Credit Risk management, Operations Risk, Market Risk and Treasury. Mr Kaushal has extensive experience across emerging markets and developed markets having worked in multiple markets covering, Australia, Centeral and Eastern Europe, United Kingdom , Russia, Asia and India. Prior to joining IDFC, Mr. Kaushal was variously, a Partner with Ernst & Young in India responsible for leading the Financial Services Risk Management Practice; Chief Risk Officer at ANZ Bank in India; Head of Commercial Credit Risk Asia Pacific with ANZ Bank in Hong Kong, Senior Credit Officer – EMEA Global Consumer Bank with Citibank in London; Head of Commercial Risk = Citibank in Poland and India; and worked in several senior leadership roles both in the Global Corporate & Investment Bank & Global Consumer Bank at Citibank. Mr. Kaushal holds a Masters in Finance from Jamnalal Bajaj Institute of Management Studies & is A.C.A. from the Indian Institute of Chartered Accountants.

Rajeev Uberoi

Dr. Rajeev Uberoi is General Counsel and Head - Legal & Audit of the Company. Dr. Rajeev Uberoi joined IDFC as General Counsel and Group Head - Legal and Compliance in 2009. Having worked in the banking and finance space for more than three decades, Dr Uberoi commands a unique position in the legal fraternity and is looked upon by many institutional heads for his ability to effectively strategize and formulate business - legal decisions which have led to consummation of some path breaking transactions in the domestic and international markets. In his previous experiences, he has worked with several domestic and multinational banks such as Union Bank of India, State Bank of India, RBI as Asst. General Manager, Dept. of Banking Supervision, Citibank as Vice President & Regulatory Head; ANZ Grindlays Bank as Head - Risk Management & Compliance - India. Dr. Uberoi is also a profound writer and has a lot of publications to his credit. He is also a member of various committees and has been active on the Speaker circuit. He is a recipient of many accolades and awards and his contribution to the legal fraternity has been recognised 86 I D FC BANK ANNUAL REPORT 2 0 1 5 – 2 0 1 6 in the Industry. Dr. Uberoi is a lawyer and a Canadian Commonwealth Scholar with a Masters from McMaster University and a Ph.D. in Economics. He also possesses an MBA degree from MDI, Gurgaon.

Ajay Mahajan

Mr. Ajay Mahajan is an Head - Commercial & Wholesale Banking of the Company. He is the Head of Commercial & Wholesale Banking. He has over 25 years of experience in the banking industry and has now been with IDFC for two years. Mr. Mahajan started his career with Bank of America in 1990, where he last served as Managing Director & Country Treasurer responsible for all financial markets, balance sheet management and capital markets businesses. After 14 years with Bank of America, he joined the founding team of Yes Bank, a greenfield bank, serving as Group President of Financial Markets, Institutions and Investment Management. This was a very entrepreneurial role as it involved setting up various functions in the Bank from scratch. In 2008, Mr. Mahajan joined UBS to build their banking franchise in India when they got licensed by RBI to commence banking operations in India. This was an equally entrepreneurial role building a foreign bank’s capabilities, processes and clients business in the country and leading the team as the Managing Director. Thereafter, Mr. Mahajan stepped away from formal employment to set up his entrepreneurial ventures. He was Managing Partner and Co-Founder of R-Square Advisors, an investment management and market risk advisory firm, where he provided quant-oriented risk management, fixed income and credit modeling solutions to clients. Earlier he also founded FICC Capital, with the objective of building a structured credit business. Mr. Mahajan has served as a Director on the Board of Fixed Income, Money Markets and Derivatives Association of India (‘FIMMDA’), promoted by banks and financial institutions to facilitate the development of securities and derivatives markets in India. He has a Masters from Faculty of Management Studies and has B.E. (Hons) in Electrical and Electronics Engineering from BITS Pilani and CFA from the CFA institute, USA.

Ravi Shankar

Mr. Ravi Shankar is a Head - Bharat Banking of the Company. He has over 25 years of experience across sectors including retail finance, business consulting, advertising, automotive, aviation etc. Prior to joining IDFC, Ravi was Head of Business & Marketing at Fullerton India Credit Co. Ltd. In this role, he was responsible for both urban and rural businesses along with Marketing, Corporate Communications and CSR. At Fullerton India, he helped build a profitable and robust rural finance network of over 200 branches across India, called ‘Gramshakti’. He was also responsible for conceptualizing and implementing the marketing and communication initiatives for the company. Prior to Fullerton, he worked with TNS India Pvt. Ltd. as Senior Vice President & Head - Stakeholder Management Research and Strategic Consulting for clients across B2B, automotive, finance & technology sectors. Prior to joining TNS India, Ravi worked with organizations like Publicis India Communications Pvt. Ltd., ModiLuft Ltd., Maadhyam Advertising Pvt. Ltd. and the Eicher Group. He began his corporate career with Living Media India Ltd. Mr. Ravi holds a Bachelor’s degree in Economics & a Post Graduate Diploma in Management.

Sunil Kakar

Mr. Sunil Kakar is Nominee Director of IDFC Ltd of the Company. Mr. Sunil Kakar is the Chief Financial Officer at IDFC Bank and was named in this position in 2015 pursuant to the transfer & demerger process. He is responsible for Strategic Planning, Finance & Accounts and Investor Relations. He joined IDFC in 2011 as the Group Chief Financial Officer and was responsible for Finance & Accounts, Business Planning and Budgeting, Investor Relations, Resource Raising and IT. He is also a member of IDFC Group’s Management Committee. Prior to joining IDFC, Mr. Kakar worked with Max New York Life Insurance Company since 2001, as CFO. He led numerous initiatives including Planning, Investments / Treasury, Finance and Accounting, Budgeting and MIS, Regulatory Reporting and Taxation. As part of the start-up team in Max New York Life, Mr. Kakar was part of the core group responsible for the successful development of the insurance business. In his previous assignment, he worked with Bank of America for 18 years in various roles, covering Business Planning & Financial Control, Branch Administration and Operations etc. As a CFO from 1996 to 2001, Mr. Kakar spearheaded the Finance function at Bank of America. Mr. Kakar holds an MBA in Finance from XLRI and a degree in engineering from IIT Kanpur.

Anindita Sinharay

Rajan Anandan

Mr. Rajan Anandan is Independent Director of the Company. He is the Vice President and Managing Director of Google South East Asia and India and is responsible for Sales and Operations in the region. Mr. Anandan is focused on expanding the Internet ecosystem in the region, increasing adoption among consumers and businesses and accelerating innovation. South East Asia and India, with over two billion consumers and 500 million Internet users, is the fastest growing Internet user base in the world. Mr. Anandan joined Google in early 2011 to lead Google’s business in India. His career includes leadership roles at Microsoft, Dell and McKinsey & Company. Prior to Google, Mr. Anandan was the Managing Director of Microsoft India and built India’s largest software business. Before joining Microsoft, he was a Vice President with Dell where he held several global leadership roles including that of the Executive Assistant to Chairman Michael Dell. Before Dell, Mr. Anandan was a Partner with McKinsey & Company in Chicago. He holds an MSc from Stanford University and a BSc from MIT.

Abhijit Sen

Mr. Abhijit Sen is Independent Director of the Company. recently retired from Citi India after serving as the Chief Financial Officer-India Subcontinent for over 18 years. In this role he was responsible for the Finance function in India, Bangladesh and Sri Lanka for the entire Citi franchise including Controllership, Corporate Treasury, Financial Planning, Product Control and Tax. He was a member of all Policy level Committees as well as Boards of constituent Citi companies, and had a significant ongoing involvement in various areas of Management of the franchise with special emphasis on Business planning / Strategy, regulatory aspects, financial planning and policies and corporate governance / legal entity management. He was also responsible for interfacing with external rating agencies, banks and investors to broad-base funding of non-bank vehicles. In addition to his CFO role, Mr. Sen was Chairman of Citicorp Services India Limited which provides a variety of services in the analytics, financial modeling and planning, processing and technology space engaging over 3000 professionals serving a variety of Citi businesses overseas. As Chairman of the Board, he was responsible for providing governance oversight and ensuring performance of service delivery, while protecting regulatory standards. He also earlier provided oversight to a variety of functions including Compliance & Control, Procurement, Premises Management and Utilities. On retirement from Citi, Mr. Sen joined General Atlantic Pvt. Ltd India, as an Advisor with effect from March 01, 2015, to provide broad strategic support for investments in the Banking and Financial Services Sector. He also currently serves on several Boards including Trent Ltd and Ujjivan Financial Services Ltd and in the past on the Board of National Securities Depository Limited. Mr. Sen holds an Honours degree in Engineering from IIT, Kharagpur and an MBA from IIM-Calcutta.

Anand Sinha

Mr. Anand Sinha is Additional Independent Director of the Company. Mr. Anand Sinha joined the Reserve Bank of India in July 1976 and rose to become Deputy Governor in January 2011. He was Adviser in RBI up to April 2014 after demitting the office of Deputy Governor in RBI on 18th January 2014. As Deputy Governor, he was in-charge of regulation of commercial banks, Non- Banking Financial Companies, Urban Cooperative Banks and Information Technology, among others. He has been closely associated with the banking sector reforms in India. He has represented the Reserve Bank of India in various Committees / Groups of BIS such as Basel Committee on Banking Supervision (‘BCBS’), Policy Development Group (‘PDG’), Macro Prudential Supervision Group (‘MPG’), Macro Variable Task Force (‘MVTF’) and Committee on Global Financial Systems (‘CGFS’). He represented India on the G20 Working Group on Enhancing Sound Regulation & Strengthening Transparency. He was the Chairman, Governing Council of the Institute for Development and Research in Banking Technology (‘IDRBT’), a research and development institution on financial sector technology, set up by the Reserve Bank of India. He was also a member on the Board of the Securities and Exchange Board of India (‘SEBI’). Mr. Sinha was RBI's nominee director on the boards of Dena Bank, Allahabad Bank, Bank of Baroda, Indian Overseas Bank, Deposit Insurance and Credit Guarantee Corporation, and Export Credit and Guarantee Corporation at different phases of his career. Mr. Sinha holds Master’s Degree in Physics from the Indian Institute of Technology (‘IIT’), New Delhi.

Ajay Sondhi

Mr. Ajay Sondhi is Independent Director of the Company. He is based in Singapore and is the Founder and CEO of Sentinel Advisors Pte Ltd, a boutique business and strategy advisory services firm focusing on India, ASEAN and North Asia markets, with particular sector focus on Financial Services, Health Sciences and Real Estate. Mr. Sondhi has had an over 33-year career in wholesale, investment and private banking in India and overseas. Mr. Sondhi was the Regional Head for Private Wealth Management at Goldman Sachs Singapore from 2008 till taking early retirement in mid-2014. Prior to that he was head of Global India markets for Citi Private Bank based in Singapore from 2005 to 2008. Mr. Sondhi has previously been Vice Chairman and MD of Kotak Mahindra Capital Company and a Board member of Kotak Mahindra Bank, India; MD and Country Head for UBS AG, India; Group CEO for Barclays Bank / BZW, India; and Director & Head-South Asia for Salomon Brothers, Hong Kong. Mr. Sondhi started his career with Citibank in India, and held various positions in corporate banking culminating in becoming Country Corporate Bank and Corporate Finance Head before he left in 1993. Mr. Sondhi is a member of the Board of Advisors of Tufts University School of Medicine, Boston, USA; a Board Dignitaries of Government of India with IDFC Bank Directors and Core Management Team at the inauguration of the Bank corporat e gov ernance report 81 Committee member of SPD, a voluntary welfare organisation serving the disabled in Singapore; and a Director of Maxx Medical Pte, a medical devices company headquartered in Singapore. Mr. Sondhi holds a Master in Management Studies degree from Jamnalal Bajaj Institute of Management Studies, Mumbai, and is a graduate of St. Stephens College, Delhi University.

Basic Compensation

Name Fiscal Year Total

Veena Mankar

2,050,000

Rajiv Lall

40,507,200

Avtar Monga

--

N. S. Rajan

--

Mahendra Shah

14,247,200

Pavan Kaushal

--

Rajeev Uberoi

--

Ajay Mahajan

--

Ravi Shankar

--

Sunil Kakar

20,671,900

Anindita Sinharay

--

Rajan Anandan

1,033,330

Abhijit Sen

2,300,000

Anand Sinha

650,000

Ajay Sondhi

1,900,000
As Of  31 Mar 2017