Why IDFC First Bank’s CEO gifted shares worth Rs 30 lakh to former school teacher

Vaidyanathan qualified for the course and went on to do well professionally, but was never able to get back in touch with his teacher, who had moved homes. He finally discovered that his teacher was living in Agra and called him to express his thanks.

But then earlier this month, the bank made a regulatory filing to the stock exchanges. The bank said that Vaidyanathan had transferred his one lakh shares in the bank that he held to the Saini.

The filing said that Vaidyanathan had transferred the shares “as a gift, without any consideration as a token of gratitude for his teacher’s help to him at an earlier stage in his life”.

Since being shared online, the Facebook post has gone viral and prompted several reactions among netizens, with many saying it was a “beautiful story”.