Connect with us

Hi, what are you looking for?

Finance

CEO of India’s IDFC First Bank gives away Rp 7,609,289,500 worth of shares to his driver, helpers, and math teacher

Image Source: Youtube/IDFC FIRST Bank

The CEO of India’s IDFC First Bank, V Vaidyanathan, set a new benchmark of being a philanthropic boss by giving $530,000 or around Rp 7,609,289,500 worth of shares he owns to his driver, trainer, and helpers at home and office. As an added philanthropic bonus, Mr. V Vaidyanathan also gave 900,000 shares or 3.7% of his holding in the private sector lender.

The recipients will use the funds to buy homes, according to an exchange filing. The value of the holding is based on Monday’s closing price.

Mr. V Vaidyanathan, 54, has given roughly 38% of his stake since January 2018. It includes a generous gift to his former math teacher, who had lent Vaidyanathan Rs 500 when he was only a broke student and needed travel money to go to a premier school where he had won an admission.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Entertainment

A wedding photographer deleted all photos of the newlywed after the groom told him he could not take a break to eat and drink....

Entertainment

We already have love, but sometimes we cannot fully feel and receive it as long as we view it as painful. As a society,...

Current Affairs

The Light is a training center that claims to be a self-betterment organization focused on helping youths take charge of their life for a...

Current Affairs

Marvel’s Shang-Chi has revealed the lead single for the movie’s soundtrack, entitled “Lazy Susan”. There are two rappers from Indonesia under 88rising, Rich Brian...