Rajiv B Lall, non-executive chairman of IDFC First Bank, on Friday resigned with immediate effect, citing personal health issues.
The lender said Lall “has tendered his resignation as Part-Time Non-Executive Chairman from the Board of the Bank with immediate effect citing he has been dealing with his prolonged personal health issues for a while now.”
While Lall was the founder MD and CEO of the IDFC Bank since October 2015, he ceased to be the MD and CEO after the bank got merged with Capital First in December 2018. He took the role of non-executive chairman of the merged entity IDFC First Bank. Earlier, he was the CEO and then executive chairman of IDFC Ltd.
On July 20, The Indian Express reported that IDFC Bank (under Lall’s tenure as MD and CEO) had let out premium space in its South Mumbai office to Asia Society India Centre, a not-for-profit organisation, headed by Lall’s wife Bunty Chand, from 2015 to 2018, at a nominal rent of Re 1 a month.
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