The Reserve Bank of India (RBI) has acknowledged the right of Currant Sea Investments B.V. to appoint a non-executive director to the Board of Directors of IDFC FIRST Bank. This acknowledgement follows an amendment to an existing investment agreement. The appointment is for one non-executive director who will be liable to retire by rotation, effective September 18, 2025.
Director Appointment Acknowledged
IDFC FIRST Bank announced that the Reserve Bank of India (RBI) has acknowledged the right of Currant Sea Investments B.V. to appoint one non-executive director to the bank’s Board of Directors. This acknowledgement was communicated via a letter received on September 18, 2025.
Details of the Agreement
The director appointment stems from an amendment dated July 3, 2025, to the Investment Agreement originally dated April 17, 2025. This agreement was entered into between IDFC FIRST Bank and Currant Sea Investments B.V., which is an affiliate of Warburg Pincus. This amendment grants Currant Sea Investments B.V. the right to nominate one non-executive director.
Board Implications
The appointed director will serve as a non-executive member of the Board and will be subject to retirement by rotation, ensuring ongoing governance and oversight within IDFC FIRST Bank. This change reflects the investment agreement and provides Currant Sea Investments B.V. with representation on the Board.
Source: BSE
