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IDFC First Bank Outcome of Board meeting

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On 10 May 2019

announced that the in their meeting held on 10 May 2019 have approved the re-reappointment of as an Independent of 4 consecutive years with effect from 01 August 2019. ii) Based on the recommendation of the Nomination & Remuneration Committee, the Board approved the appointment of as an Independent of 4 years with effect from 10 May 2019, subject to approval of the shareholders of the and other applicable statutory/regulatory approvals. iii) The Board approved nabling resolution relating to issue of up to an amount not exceeding Rs 5000 crore placement basis for a period of one year from the conclusion of 5th AGM of the Bank, within the overall borrowing limits of the Bank, subject to approval of the shareholders of the and other applicable statutory/regulatory approvals. iv) The Board approved increase in ESOP Pool from 6% to 8% of the issued and paid up share capital of the Bank and modification of exercise period to the extent that stock options granted shall be capable of being exercised within a period of 3 years from the date of vesting of the respective employee stock options or such other period s may be determined by the and approved subsequent modification of 'ESOS - 2015' Scheme, subject to approval of the shareholders of the Bank.

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First Published: Sat, May 11 2019. 11:06 IST
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