There are very few people, who despite being very successful, do not forget about those who have been a part of their journey. Vembu Vaidyanathan, the Managing Director and CEO of IDFC First Bank Ltd, is one such person. Earlier this year, the CEO generously gifted his equity shares worth ₹4.83 crores, to help his domestic help – including his driver, trainer, and other helpers are home and office – build their home. According to an exchange filing, the CEO donated about 3.7 percent of his holding, which would be about 900,000 shares in the private sector lender.
Interestingly, this is not the first time the banker has gifted hefty sums to the less fortunate multiple times in the past. In 2021, he gave away shares worth ₹2.43 crore to three of his employees. Before that, in October 2020 he donated ₹30 lakh to his math teacher Gurdial Saini, who had lent him some money thirty years ago to attend the interview at the Birla Institute of Technology.
Known for his philanthropic nature, V Vaidyanathan also pledged 38 percent of his stake at the IDFC bank in December 2018.