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Bank CEO Thanks Former Teacher By Gifting Shares Worth Rs 30 Lakhs

Amisha Zalani
·2-min read

They say that what goes around comes around. Recently, MD and CEO of IDFC bank gifted his former math professor one lakh equity shares worth around Rs 30 lakhs held by him. Why, you ask? Vaidyanath simply wanted to thank his former professor for supporting him in his early days.

The MD & CEO of IDFC First bank is V.Vaidyanathan. I have met Vaidya a few times when he was at ICICI and found him to...

Posted by Peri Maheshwer on Tuesday, October 6, 2020

The story goes like this: When Vaidyanath got admission into BITS, he did not have the money to travel to the college to appear for the interview and complete the counselling formalities. Mr Gurdial Saini, his then maths teacher lent him Rs 500 to travel for the interview. The money took Vaidyanath a long way. He went on to complete his studies at BITS, Mesra and did well in his professional life.

Years later, Vaidyanath has finally found a way to give back.

In a Facebook post that has now gone viral, Peri Maheshwer writes about this:

"Vaidya searched for him to repay but Mr.Saini had moved jobs. Many years later, with the help of a former colleague, he got to know that Mr.Saini is in Agra, called him up, expressed his gratitude for the timely help."

This story has sparked countless reactions with social media users calling it a “beautiful gesture of highest order.”

Mr Saini found out about this gesture when the IDFC FIRST Bank made a regulatory filing to the stock exchanges, the notice of which read:

“Pursuant to Regulation 30 of the SEBI Listing Regulations read with Regulation 7(2) and 6(2) of the SEBI Insider Trading Regulations, we wish to inform you that V. Vaidyanathan has transferred 1,00,000 fully paid-up equity shares of IDFC FIRST Bank Limited held by him in his personal capacity to his former school teacher, Gurdial Saroop Saini, 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.”

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