IDFC FIRST Bank Re-appoints S Ganesh Kumar as Independent Director for Second Term
IDFC FIRST Bank's Board of Directors has approved the re-appointment of Mr. S Ganesh Kumar as Independent Director for a second three-year term from April 30, 2026 to April 29, 2029, subject to shareholder approval. Mr. Kumar, a former RBI Executive Director with over 30 years of experience, has played key roles in establishing India's payment infrastructure including NPCI and contributed to the Payment and Settlement Systems Act. The decision was made during a Board meeting on January 31, 2026, following Nomination and Remuneration Committee recommendations.
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IDFC FIRST Bank announced that its Board of Directors has approved the re-appointment of Mr. S Ganesh Kumar as an Independent Director for a second term. The decision was made during a Board meeting held on January 31, 2026, following recommendations from the Nomination and Remuneration Committee.
Re-appointment Details
The Board has approved Mr. Kumar's re-appointment for a second term spanning three consecutive years. His new tenure will commence from April 30, 2026 and continue until April 29, 2029, with both dates inclusive. The re-appointment is subject to approval by the Bank's shareholders.
| Parameter: | Details |
|---|---|
| Director Name: | Mr. S Ganesh Kumar |
| DIN: | 07635860 |
| Position: | Independent Director |
| Term Duration: | 3 consecutive years |
| Commencement Date: | April 30, 2026 |
| End Date: | April 29, 2029 |
| Retirement Liability: | Not liable to retire by rotation |
Professional Background
Mr. S Ganesh Kumar brings substantial experience to the Board, having served as Executive Director of the Reserve Bank of India for over three decades. His educational qualifications include an M.B.A., B.Sc., Diploma in Banking, B.G.L., and C.A.I.I.B.
During his tenure at RBI, Mr. Kumar's responsibilities encompassed:
- Complete oversight of Payment and Settlement Systems
- Creation and development of strategic plans for the Bank
- Management of external investments and foreign exchange reserves
- Association with the Institute for Development and Research in Banking Technology
Key Contributions to Financial Infrastructure
Mr. Kumar played instrumental roles in establishing several critical financial institutions and frameworks. He was involved in the creation of the National Payments Corporation of India, Reserve Bank Information Technology Private Limited, and Indian Financial Technology and Allied Services (IFTAS). His expertise extended to policy formulation, including association with the National Cyber Security Council of the Government of India and framing of the Payment and Settlement Systems Act.
His contributions to India's digital payment ecosystem include ideating, designing, and developing innovative technology-based retail payment systems, many of which are currently operated by the National Payments Corporation of India (NPCI).
Regulatory Compliance
The Bank confirmed that Mr. Kumar maintains no relationships with other Directors and is not debarred from holding directorial positions by SEBI or any other regulatory authority. The Board meeting commenced at 9:30 a.m. and concluded at 3:15 p.m., with the disclosure being uploaded on the Bank's website in compliance with SEBI Listing Regulations.
Historical Stock Returns for IDFC First Bank
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.13% | -0.74% | -1.14% | +18.87% | +39.72% | +77.08% |
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