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IDFC First Bank Ltd (IDFB.NS)

IDFB.NS on National Stock Exchange of India

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Summary

Name Age Since Current Position

Rajiv Lall

59 2018 Part-Time Non-Executive Chairman of the Board

V. Vaidyanathan

48 2018 Chief Executive Officer, Managing Director, Director

Pankaj Sanklecha

48 2018 Chief Financial Officer, Head - Corporate Centre

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

Satish Gaikwad

39 2018 Compliance Officer, Company Secretary

Srishti Sethi

2018 Chief Risk Officer

Rajeev Uberoi

General Counsel and Head - Legal & Audit

Ajay Mahajan

Head - Commercial & Wholesale Banking

Sunil Kakar

61 2017 Nominee Director of IDFC Ltd

Anindita Sinharay

42 2017 Nominee Director (Representing Ministry of Finance, GOI-equity investor)

Vishal Mahadevia

43 2018 Non-Executive Non Independent Director

Sanjeeb Chaudhuri

2019 Independent Director

Desh Dogra

63 2018 Independent Director

Brinda Jagirdar

65 2018 Independent Director

Aashish Kamat

2018 Independent Director

Hemang Raja

60 2018 Independent Director

Anand Sinha

67 2016 Additional Independent Director

Pravir Vohra

63 2018 Additional Independent Director

Veena Mankar

65 2018 Non-Executive Independent Director

Biographies

Name Description

Rajiv Lall

Dr. Rajiv B. Lall is Part-Time Non-Executive Chairman of the Board of the Company. Dr. Rajiv B. Lall 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.

V. Vaidyanathan

Mr. V. Vaidyanathan is Chief Executive Officer, Managing Director, Director of the Company. Mr. V. Vaidyanathan founded Capital First Ltd by first acquiring an equity stake in an existing NBFC, and then executing a Management Buyout (MBO) by securing an equity backing of Rs. 810 crores in 2012 from PE Warburg Pincus. The MBO included (a) buyout of majority and minority shareholders through Open Offer to public; (b) Fresh capital raise of Rs. 100 crores into the company; (c) Reconstitution of the Board of Directors (d) Change of business from wholesale to retail lending; (e) Creation of a new brand "Capital First". He believes that financing India's 50 mn MSMEs and India's emerging middle class, with a differentiated model based on new technology platforms, offers a unique opportunity in India. As part of this belief, on acquiring control of the management, he exited legacy businesses of Real estate financing, Foreign Exchange, Braking, Investment management and instead transformed the company into a large retail financing institution with operations in more than 225 locations across India.

Pankaj Sanklecha

Mr. Pankaj Sanklecha is Chief Financial Officer, Head - Corporate Centre of the Company. He has been the Chief Financial Officer and Head - Corporate Centre of the Capital First Limited since November 5, 2012. He has more than 23 years of experience in the Financial Services Industry, specializing in the retail and SME financing in leadership capacities across business, Risk & Finance verticals. He joined Capital First in 2010 as one of the key management persons of the Company and took up the role of Chief Risk Officer. Subsequently, after the management buyout by Mr. V Vaidyanathan, Founder Chairman of Capital First, with the backing of Warburg Pincus, the leading private equity player, he was appointed as the Chief Financial Officer and Head of Corporate Center. In Capital First, Pankaj played the leadership role in handling Finance & Accounts, Treasury, Internal Audit, Legal & Compliance, Secretarial and Investor Relations. Prior to this, Pankaj was the Risk Head-South Asia for retail financing businesses in Standard Chartered Bank in India. He has also been associated with ICICI Bank and GE Capital. Mr. Pankaj has obtained a Bachelor's degree in Commerce from the University of Mumbai and is a qualified Chartered Accountant

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

Satish Gaikwad

Mr. Satish Gaikwad is Compliance Officer, Company Secretary of the Company. He s a qualified Company Secretary with 18 years of rich experience in the area of Legal, Secretarial & Compliance from diverse industries viz. BFSI, service & manufacturing segments and has played leadership role in the said functions. Mr. Satish has expertise in banking, commercial, corporate, industrial & labour laws and dispute resolution. He also has expertise in areas relating to litigation such as handling suits before various judiciary forums including Consumer Forums, High Courts, NCLT, DRT, Supreme Court etc. He has successfully handled major corporate actions like Merger, Takeover, QIP, Preferential Allotment, Strategic Alliances etc. Prior to his appointment as Company Secretary of IDFC Bank, Mr. Satish Gaikwad headed the Legal, Compliance & Secretarial function of Capital First Limited. He has also worked with other reputed corporate groups such as Bombay Dyeing, Hathway, Dharamsi Morarji and also Mahindra & Mahindra in various roles in the areas of legal, compliance & secretarial functions. Mr. Satish has graduated in Commerce and Law from University of Mumbai. He is a fellow member of the Institute of Company Secretaries of India and Associate Member of Institute of Cost Accountants of India.

Srishti Sethi

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 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.

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

Ms. Anindita Sinharay is Nominee Director (Representing Ministry of Finance, GOI-equity investor) of the Company.

Vishal Mahadevia

Mr. Vishal Mahadevia is Non-Executive Non Independent Director of the Company. Mr. Vishal Mahadevia joined Warburg Pincus in 2006 and is a member ofthe firm's executive management group. Previously, he was a Principal at Greenbriar Equity Group, a fund focused on private equity investments in the transportation sector. Prior to that, Mr. Mahadevia worked at Three Cities Research, a New York-based private equity fund, and as a consultant with McKinsey & Company. He currently serves as a Managing Director of Warburg Pincus India Private Limited. Mr. Mahadevia is also a Director of Biba Apparels, Capital First, Gangavaram Port, IMC Limited, Stellar Value Chain, PVR Limited, ICICI Lombard General Insurance and Airtel Africa. He received a B.S. in economics with a concentration in finance and a B.S. in electrical engineering from the University of Pennsylvania.

Sanjeeb Chaudhuri

Desh Dogra

Shri. Desh Raj Dogra is Independent Director of the Company. Mr. D.R. Dogra retired in 2016, as Managing Director and CEO of CARE Ratings, which is the second largest credit rating agency in India in terms of rating income. After a stint of 15 years in Dena Bank, he joined CARE in 1993. Born in September 1954, he has over 38 years of experience in the financial sector in the areas of banking and credit rating. He has been instrumental in driving CARE Ratings to the position which it has attained in the last few years and has also taken the company to the bourses where it got listed in December 2012. Several initiatives have been successfully taken such as acquisition of Kalypto Risk Technologies (a risk management solutions company), opening of first global office in the Republic of Maldives, setting up the first credit rating agency in Mauritius, forging ties with other global rating agencies in creation of a global rating agency, ARC Ratings (with partners from Brazil, Malaysia, Portugal and South Africa). He also worked closely with the Ministry of Finance, Govt. of India, where CARE has prepared a dossier on the Indian Economy as well as white papers on both the equity and debt markets for the Ministry. He is now associated as Independent Director with various corporates including S. Chand & Co.(Non-Executive Chairman), Welspun Corp, Sintex Plastics, Sintex BAPL, G.R.Infraprojects, Asirvad Microfinance, etc. He is also an Independent member on the Board of Microfinance Institutions Network (MFIN), a society working for development ofthe microfinance sector. By means of qualification, he holds a Bachelor's and a Master's degree in Agriculture from Himachal Pradesh University and MBA from Faculty of Management Studies, University of Delhi. He is a certified associate of the Indian Institute of Bankers.

Brinda Jagirdar

Dr. Brinda Jagirdar is Independent Director of the Company. She s an independent consulting economist with specialization in areas relating to the Indian economy and financial intermediation. She is an Independent Director on corporate boards: Capital First Limited, Capital First Home Finance Limited, Rane Engine Valve Limited and Multi Commodity Exchange Clearing Corporation Limited. She is a member of the Research Advisory Committee of the Indian Institute of Banking and Finance, Mumbai. She is on the Governing Council of Treasury Elite, a knowledge sharing platform for finance and treasury professionals. She is a member of the Managing Committee of the All India Bank Depositors Association of the Forum of Free Enterprise. She retired as General Manager and Chief Economist, State Bank of India, based at its Corporate Office in Mumbai. As part of the Bank's Top Management team, Dr. Jagirdar's work at SBI involved leading the Department of Economic Research to track developments in the Indian and global economy and analyse policy implications for business. She was invitee to the Bank's Asset Liability Committee and to the Central Management Committee meetings. She conducted research studies on relevant issues including financial inclusion, financial stability, banking sector reforms. Dr. (Mrs.) Brinda Jagirdar was associated with the Raghuram Rajan Committee on Financial Sector Reforms in India, was a member of the Planning Commission's Sub Group on Household Sector Savings for the 12th Five Year Plan and member of the Ministry of Finance Group on Deepening India's Household Financial Savings. She was member of Banking, Finance & Economics Committee of the Bombay Chamber of Commerce, member of the Monetary Policy Group of Indian Banks' Association and editorial committee member of the journal of the Indian Banks' Association.

Aashish Kamat

Mr. Aashish Kamat is Independent Director of the Company. He has over 30 years of experience in the corporate world, with 24 years being in banking and financial services and 6 years in public accounting. His 24 years have seen him hold various senior and regional roles covering wholesale, investment, private and consumer banking in India and overseas. Mr. Kamat was the Country Head for UBS India, from 2012 until his early retirement in January 2018. Prior to that he was the Regional COO/CFO for Asia Pacific at JP Morgan based out of Hong Kong. Before moving to Hong Kong, Mr. Kamat was in New York, where is was the Global Controller for the Investment Bank (I B) at JP Morgan in New York; and at Bank of America as the Global CFO for the IB, and, Consumer and Mortgage Products. Mr. Kamat started his career with Coopers & Lybrand, a public accounting firm, in 1988 before he joined JP Morgan in 1994. In these various roles he has been responsible for all aspects of banking including client relationship management and deal origination, strategic and financial planning, regulatory management and reporting, all aspects of risk management (market, credit, operational including compliance), Business, product and legal entity controllership, balance sheet, RWA and capital management. His roles at JP Morgan and Bank of America also saw him participate as a member in various global and regional committees for Risk, Finance and Control, and Reputation. Mr. Kamat holds a BA in Accounting from Franklin & Marshall College, USA and is also a Certified Public Accountant (CPA).

Hemang Raja

Mr. Hemang Raja is Independent Director of the Company. He s an MBA from Abeline Christian University, Texas, with a major emphasis on finance. He has also done an Advanced Management Program (AMP) from Oxford University, UK. He has a vast experience of over thirty seven years in financial services encompassing Private Equity and Fund Management business with Credit Suisse as MD and Head- India apart from fund based businesses such as Project Finance and Corporate Banking, together with Treasury management and Structured products with IL&FS. Mr. Raja has also been the head of Capital Market activities in the Institutional and Retail Segments when he started and became the Managing Director and CEO of the then newly formed initiative by IL&FS, namely IL&FS lnvestsmart Ltd. His last assignment from the year 2006 onwards was in the area of Private Equity and Fund Management business with Credit Suisse and Asia Growth Capital Advisers in India as MD and Head - India. Over the course of his career he has cultivated and managed over a hundred strong Corporate Relationships and has been involved in the creation of a retail customer base of more than two hundred thousand, in IL&FS lnvestsmart Ltd. He has served on the executive committee of the board of the National Stock Exchange of India Limited; also served as a member of the Corporate Governance Committee of the BSE Limited.

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.

Pravir Vohra

Mr. Pravir Kumar Vohra has been appointed as Additional Independent Director of the Company., effective August 1, 2018. Mr. Pravir Vohra is a postgraduate in Economics from St. Stephen's College, University of Delhi and a Certified Associate of the Indian Institute of Bankers. He began his career in banking with State Bank of India where he worked for over 23 years. He held various senior level positions in business as well as technology within the bank, both in India and abroad. His assignments included responsibility for the technology function for State Bank's branches in the US and Canada. He also headed the Bank's Forex Division at New Delhi. The late 1990s saw Mr. Vohra as Vice President in charge of the Corporate Services group at Times Bank Ltd. He was responsible for spearheading the bank's technology enabled services to corporate in areas like cash management, supply chain management and merchant banking. In January 2000, he moved to the ICICI Bank group where he headed a number of functions like the Retail Technology Group and Technology Management Group. In these capacities, he oversaw the deployment of technology across ICICI Bank's domestic & international operations and was instrumental in creating a future-ready, platform independent & scalable infrastructure. From 2005 till 2012 he was the President and Group CTO at ICICI Bank. His focus was to ensure a meaningful alignment of Technology with overall business goals and obtain the best from people, processes and information within the organization. The objective was to help ICICI Group remain agile, flexible and competitive. As a Group CTO, he played a key role in shaping the Bank's technology investments through repositioning strategies across both execution and product innovation. By leveraging both new and existing technologies, he consistently focused on increasing efficiency, reducing costs and supporting competitiveness, as well as creating differentiated products which enabled the enterprise to retain market relevance.

Veena Mankar