IDFC First Bank Limited has received a letter dated July 22, 2021 from Mr. Sunil Kakar, tendering his resignation as a Non-Executive Non-Independent Director of the Bank with immediate effect. Further, based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Bank, has approved the appointment of Mr. Ajay Sondhi, as an Additional Director, in the category of Non-Executive Non-Independent Director of the Bank, effective from July 22, 2021. The appointment of Mr. Ajay Sondhi will be subject to the approval of the Shareholders at the next Annual General Meeting of the Bank. Mr. Ajay Sondhi is an Independent Director of IDFC Limited. Further, Mr. Ajay Sondhi is not related to any of the Directors of the Bank and is not debarred from holding the office of director virtue of any order passed by SEBI or any other Regulatory/Statutory authority. Mr. Sondhi was most recently Founder & CEO of Sentinel Advisors Pte Ltd.