Board Of Directors

  • Mr. V. Vaidyanathan


  • Dr.(Mrs.) Brinda Jagirdar


  • Mr. Hemang Raja


  • Mr. Pravir Vohra


  • Dr. Sanjay Kumar

    Non-Executive Non-Independent Director

  • Mr. Sunil Kakar


  • Mr. Vishal Mahadevia


  • Mr. Aashish Kamat


  • Mr. Sanjeeb Chaudhuri



Mr. V. Vaidyanathan


With over two decades in financial services in India, V. Vaidyanathan has seen India through many lens – first as a banker (1990-2010, Citibank), then as an entrepreneur (2010-2019, Capital First) and a professional banker again (2019- date, after merging Capital First with IDFC Bank). He worked with Citibank Consumer Banking from 1990-2000, then set up ICICI Group's retail banking from 2000-2009 since its inception, built ICICI Bank's branch network to 1411 branches and 28 million customers, built a large CASA and retail deposits franchise, and built the retail lending businesses including mortgages, auto loans, credit cards and personal credit businesses to Rs. 1.35 trillion ($30 bn). He was appointed at the Board of ICICI Bank in 2006 at age 38. In 2009, he became the MD and CEO of ICICI Prudential Life Insurance Company in India.

In 2010, he quit ICICI Group for an entrepreneurial opportunity to acquire an NBFC with an idea to convert it to a bank focused on consumer and MSME lending. On acquiring equity stake, he shut down all non-core businesses like broking and real estate financing, and instead used the NBFC platform to build MSME and Consumer Financing businesses, based on new technologies and algorithms. Between 2010 to 2018, he grew the loan book from start-up stage to Rs. 29,600 crores (US$4.05 bn), grew the equity capital from Rs. 691 crores (US$118 mn) to Rs. 3,993 crores (US$600 mn), reduced Gross NPA from 5.28% to 1.94%, reduced Net NPA from 3.6% to 1%, acquired 7 million customers, got the long-term credit rating upgraded from A+ to AAA, turned around the company from losses of US$5 mn (2010) to profit of US$50 mn (2018), increased ROE from -6% to +15%, and increased the market cap 10 times from Rs. 780 crores (US$120 mn) to Rs. 8,200 crores (US$1.2 bn) in 8 years. Capital First was growing at a 5-year CAGR of loan growth of 30%, and 55% in PAT between 2013-2018.

Then, in order to secure a commercial banking license, he agreed to merge Capital First with IDFC Bank in December 2018 and took over as the MD and CEO of the merged entity. Since then in seven quarters, between December 2019 to September 2020, he has increased retail loan book from 13.16% pre-merger to over 60% (Rs. 59,860 crores, US$8.14 bn) of the total funded assets, increased Net Interest margin from 1.68% pre-merger to 4.57%, increased CASA from 8.68% to 40.37%, turned the bank into profitability, and is currently busy converting the bank into a world-class retail bank in India. The bank now has over 10 million customers and loan book of more than Rs. 1 lac crores (~US$14 bn). He believes India provides unlimited opportunity in financial services in India.

During his career, he and his organization have received a number of domestic and international awards including the prestigious CNBC Awaaz Entrepreneur of the year 2020, CNBC Asia’s "Innovative company of the year" India Business Leader Awards-2017, "Most Inspirational Leveraged Management Buyout, India 2018" by CFI Awards, "Entrepreneur of the Year" Award at Asia Pacific Entrepreneurship Awards 2017, "Transformational Leader 2018" by CFI Awards UK, "Financial Services Company of the Year, 2018 - VC Circle", "Outstanding contribution to Financial Inclusion, India, 2017" from Capital Finance International, London, "Most Promising Business Leaders of Asia" 2016 by Economic Times, 'Outstanding Entrepreneur Award' in Asia Pacific Entrepreneurship Awards 2016, Greatest Corporate Leaders of India- 2014, Business Today - India's Most Valuable Companies 2016 & 2015, Economic Times 500 India's Future Ready Companies 2016, Fortune India's Next 500 Companies 2016, Dun & Bradstreet India's Top 500 Companies & Corporates 2016 & 2015. During his prior stint, awards included "Best Retail bank in Asia 2001", "Excellence in Retail Banking Award" 2002, "Best Retail Bank in India 2003, 2004, and 2005" from the Asian Banker, "Most Innovative Bank" 2007, "Leaders under 40" from Business Today in 2009, and was nominated "Retail Banker of the Year" by EFMA Europe for 2008.

He is an alumnus of Birla Institute of Technology and Harvard Business School. He has run 23 half-marathons and 8 full marathons.

Dr.(Mrs.) Brinda Jagirdar


Dr. (Mrs.) Brinda Jagirdar, aged 65 years, is 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.

She has a brilliant academic record, with a Ph.D. in Economics from the Department of Economics, University of Mumbai, M.S. in Economics from the University of California at Davis, USA, M.A. in Economics from Gokhale Institute of Politics and Economics, Pune and B.A. in Economics from Fergusson College, Pune. She has attended an Executive Programme at the Kennedy School of Government, Harvard University, USA and a leadership programme at IIM Lucknow.

She has participated and presented papers at several seminars and conferences in India and abroad. She is regularly invited to make presentations and speak on topics relating to economy and banking at various fora including National Institute of Bank Management, Forum of Free Enterprise, business schools and colleges. She has contributed columns in business newspapers and business journals and is frequently invited to be a panellist on TV business channels.

Mr. Hemang Raja


Mr. Hemang Raja, aged 61 years, is 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 industry. 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. 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.

Mr. Pravir Vohra


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. Mr. Vohra oversaw IT strategy & innovation, enterprise architecture, process automation, group IT infrastructure and was responsible for leveraging technology synergies across ICICI Bank and its group companies. He also carried additional responsibilities for facilities management, infrastructure and administration; in this capacity he oversaw the roll out of new branches, ATMs, two state of the art data centers and a large 4 million square feet office facility at Hyderabad.

What is unique is his ability to evaluate technology from a business perspective, leveraging it to reduce costs or generate revenues combined with incredible foresight in an ever changing landscape. With a stint spanning close to four decades.

In the industry, Mr. Vohra has immense experience and knowledge in IT architecture, domain expertise in financial products, process re‐engineering, IT operations and strategy.

Post his retirement from ICICI Bank in 2012, he mentored start-ups in the payments space and, more recently, completed a 2 year assignment with New Development Bank, Shanghai. He also continues to serve on the Technology Advisory Committees of organizations like the Bombay Stock Exchange, NCDEX, Indian Clearing Corporation and NPCI etc. He also serves as an Independent Director on the Boards of Thomas Cook India Ltd., NCML Ltd. & Quess Corporation.

Mr. Vohra has served on numerous technology & functional committees set up by organizations such as the Central Board of Direct Taxes, the Unique Identification Authority of India (UIAI) as well as the Reserve Bank of India and the Indian Banking Association. He has also served as a nominee director on the boards of Loyalty Solutions & Research Pvt Ltd, ICICI Securities Ltd, Firstsource Solutions Ltd and as an Independent Director on MCX India Ltd and Goldman Sachs AMC (India) Ltd. Accolades won by Mr. Vohra include The Asian Banker Achievement Award for Technology & Operations in 2006 and the Symantec Asia South Visionary 2008. He was also one of the three CIOs of international banks to have featured on the Information Week's Global CIO 50 List for 2009.

He is passionate about leveraging the power of available and emerging technologies to solve real life business issues, improve operating efficiency, design new products and processes that would touch the lives of the Indian people.

Dr. Sanjay Kumar

Non-Executive Non-Independent Director

Dr. Sanjay Kumar belongs to 2003 batch of Indian Post & Telecom accounts and Finance Service. He has joined Department of Financial Service as Director on September 21, 2017. Prior to joining this Department, He worked in Department of Telecommunication (DoT) and Department of Post (DoP). In DoT, He dealt with the works related to Spectrum Usage Charges, License Finance and Universal Service Obligation Fund in various capacities. In DoP, as Internal Finance Advisor and Director Accounts, dealt with the works related to Finance advice, Accounts, Budget and Internal audit.

Dr. Kumar has been on the Board of Syndicate Bank, as a Government Nominee Director, from April 05, 2018 till March 31, 2020. He was also member of disciplinary committee constituted by the Council of the Institute of Actuaries of India.

Mr. Sunil Kakar


Mr. Sunil Kakar is the Managing Director & CEO of IDFC Limited. He started his career at Bank of America where he worked for 18 years in various roles, covering Business Planning & Financial Control, Branch Administration and Operations, Market Risk Management, Project Management and Internal Controls. As a CFO from 1996 to 2001, Mr. Kakar spearheaded the Finance function at Bank of America in India. After Bank of America, Mr. Kakar was the CFO at Max New York Life Insurance Company since 2001. 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 a key part of core group which led the successful development of the insurance business.

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 was also a member of IDFC Group's Management Committee. After the demerger of IDFC Ltd and IDFC Bank, he moved to the bank as one of the founding members that led the transition of IDFC into a universal bank. He was a member of the Executive Committee of the bank and led Strategic Planning & Budgeting, Finance & Accounts and Investor Relations at IDFC Bank. Mr. Kakar holds an MBA in Finance from XLRI and a degree in engineering from IIT Kanpur.

Mr. Vishal Mahadevia


Vishal Mahadevia is a Managing Director, Head of India, and member of the Executive Management Group. Prior to joining Warburg Pincus in 2006, 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 Gangavaram Port Limited and IDFC First Bank Limited. He received a B.S. in Economics with a concentration in Finance and a B.S. in Electrical Engineering from the University of Pennsylvania.

Mr. Aashish Kamat


Mr. Aashish Kamat 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 (IB) 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).

Mr. Sanjeeb Chaudhuri


Mr. Sanjeeb Chaudhuri is a Board member and Advisor to large commercial and non-profit organisations across Europe, the US and Asia.

He has over four decades of senior multinational business experience across global banks and consumer companies. He has deep knowledge of consumer and commercial markets for products and services across major developed and emerging markets of India, rest of Asia, Middle East, Africa and Europe. He was global head of the Citigold wealth management offering.

Mr. Sanjeeb has most recently been Regional Business Head for India and South Asia for Retail, Commercial and Private Banking and then Global Head of Brand and Chief Marketing Officer at Standard Chartered Bank.

Prior to that, Mr. Sanjeeb was CEO of Retail and Commercial Banking for Citigroup Europe, Middle East and Africa. Sanjeeb was one of the founders of the credit cards business for Citibank in India in the early nineties and was instrumental in rapid roll out of this category across multiple East and South East Asia, Middle East, Africa and Central European markets.

Before entering the financial services space, Sanjeeb held senior roles at Unilever, Colgate-Palmolive and Procter & Gamble.

His operating experience includes driving digital transformation at global banks across Europe, Asia, Middle East and Africa. Most recently, he has personally driven Standard Chartered Bank's global pivot to digital and mobile marketing and created innovative approaches to Return on Marketing Investment (ROMI) attribution. He has first-hand experience generating multi-million dollar efficiencies from simplification, offshoring and technology-based operating solutions. He is currently a Global Mentor at the Centre for Technology Management at Columbia School of Business, New York in where he advises Chief Technology and Chief Information Officers at large corporations globally to leverage technology for outstanding business results.

At Citibank and then at Standard Chartered, Sanjeeb was a key driver of significant technology investments in Analytics and Decision Management, Big Data, Cloud-based Computing, Operational Risk and Digital Assets' Management. He was one of the key supporters of the Standard Chartered Fintech Innovation Centre created in partnership with the Monetary Authority of Singapore.

In his current role advising Fintech and Marketing Technology organisations, Sanjeeb is working with some of the most innovative organisations globally creating cutting edge platforms in the payments, transfers, peer-to-peer lending, Marketing investments attribution, artificial intelligence, information and data security space. He has been a keen observer of Chinese Big Tech exemplified by the Alibaba/Ant Financial and the WeChat/Tencent ecosystem and advised on how these can be adapted to other markets like India.

Mr. Sanjeeb was a key driver of Standard Chartered Bank's global sponsorship of the United Nations Sustainability Goals in 2015 which reached 3 billion people worldwide with the UN’s Sustainability Goals message in 3 weeks. This was achieved through an innovative mix of online, social media and digital partnerships across sports, culture, non-profit and commercial organisations.

Mr. Sanjeeb's current portfolio includes Retail, Fin Tech, Internet of Things, Smart Cities and Marketing Tech businesses. He is an Independent Director and Audit, Nomination and Remuneration and CSR Committee member at Aditya Birla Group company, ABFRL, the largest fashion retailer in India with thousands of outlets and tens of thousands of employees.

He has been on the International Advisory Board of The Open University School of Business and Law, UK for the last 11 years. He is a visiting faculty on Business Strategy, Financial Services and New Age Marketing at Wharton School of Business and Judge Business School, Cambridge.

Mr. Sanjeeb has been Director of Citigroup Europe pie, Dublin and Supervisory Board and Audit Committee Member at Bank Handlowy, the third largest bank in Poland. He was also a Director and Audit Committee Member at Standard Chartered Securities Ltd, India.

Mr. Sanjeeb has an MBA in Marketing and has completed an Advanced Management Program. He is a featured speaker at premier global marketing and media events in Europe and Asia. He was listed among the Top 25 Media Visionaries in Asia Pacific in 2016.


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