IDFC FIRST Bank Limited announced with deep sorrow the demise of Mr. Chinmay Dhoble, who held the key position of Head – Retail Liabilities and Branch Banking. A Senior Managerial Personnel (SMP) at the bank, Mr. Dhoble passed away on April 13, 2025, as per the official communication filed with stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In its statement, the bank expressed profound grief and extended heartfelt condolences to Mr. Dhoble’s family and loved ones. Describing him as a calm, motivated, and highly respected leader, the bank emphasized that he left an indelible mark on every project and initiative he undertook.

Mr. Dhoble played a pivotal role in managing and scaling the Retail Liabilities and Branch Banking operations of IDFC FIRST Bank. His contribution to the bank’s growth and customer-centric approach was significant and recognized across the industry.

As per the regulatory disclosure filed on April 14, 2025, the bank outlined the following details:

1. Reason for change: Death

2. Date of cessation: April 13, 2025

3. Brief profile: Not applicable

4. Relationship with directors: Not applicable

The official filing was signed by Satish Gaikwad, General Counsel and Company Secretary of the bank. It was addressed to both the National Stock Exchange (NSE) and the BSE Limited, with respective identifiers NSE Symbol: IDFCFIRSTB and BSE Scrip Code: 539437.

The bank also affirmed that it has a robust internal succession planning mechanism. A new leader will be appointed shortly from within the organization to take charge of the Retail Liabilities and Branch Banking vertical, ensuring business continuity and operational stability.

Mr. Dhoble’s demise comes as a significant loss, not only to the bank’s internal teams but also to its wide base of clients and stakeholders who benefited from his strategic vision and leadership. His professional ethics, managerial acumen, and personal warmth made him one of the most admired executives in the institution.

This development underscores the importance of leadership continuity in India’s banking sector, particularly in roles that interface directly with consumer banking and retail operations.

While the bank has not announced a specific successor as of this date, it is expected that someone from the internal talent pool will be elevated to the position in line with IDFC FIRST Bank’s internal policies and governance norms.

The SEBI Master Circular (SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024) requires listed entities to notify stock exchanges about any changes in senior leadership, especially under tragic circumstances such as this. IDFC FIRST Bank has complied promptly and transparently with this requirement.

In a time where stability, clarity, and resilience in leadership are paramount, this news brings both a moment of reflection and a reminder of the crucial human element in financial institutions.

As the bank and its stakeholders mourn the untimely loss of a senior leader, the industry also takes note of how institutions like IDFC FIRST Bank are adapting with maturity and preparedness to such unforeseen events.

IDFC FIRST Bank continues to operate with a strong leadership bench and has reiterated its commitment to uphold its strategic priorities, customer service standards, and growth momentum in the months ahead.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.