IDFC First Bank MD and CEO V. Vaidyanathan has gifted close to Rs 4 crore worth of shares held by him in the bank to his driver, domestic help and fitness trainer.

V Vaidyanathan has gifted 9,00 shares, the bank has stated in a regulatory filing.

The 54-year-old CEO has gifted 3 lakh shares to his trainer Ramesh Raju; 2 lakh shares each to househelp Pranjal Narvekar and driver Algarsamy C Munapar; and 1 lakh shares each to office support staff Deepak Pathare and househelp Santosh Jogale.

Calculated at Monday's closing price of Rs 43.90 apiece on BSE, the value of the 9 lakh shares gifted by Vaidyanathan works out to over Rs 3.95 crore.

The five individuals who have been serving Vaidyanathan are not related to him and this is seen as act of philanthropy.

Earlier too, he had gifted shares in his personal capacity to some individuals unrelated to him.

Earlier in 2020 Vaidyanathan had made a similar gift to his former mathematics teacher, who had lent Rs 500 when he was a student and did not have the money to travel to a premier institute in which he had got admission.

Vaidyanathan has gifted around 38% of his stake since January 2018.