IDFC FIRST BANK LIMITED — Proxy Solicitation & Information Statement 2021

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IDFCFIRSTBANK/SD/226/2021-22

November 04, 2021

The Manager-Listing Department The Manager-Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (East) Dalal Street, Fort, Mumbai – 400 051. Mumbai – 400 001. NSE - Symbol – IDFCFIRSTB BSE- Scrip Code: 539437

Sub.: Submission of copy of newspaper advertisement for Postal Ballot Notice

Dear Sir / Madam,

We wish to inform that the Bank has issued a newspaper advertisement for Postal Ballot.

Enclosing a copy of Newspaper Advertisement dated November 04, 2021, published in ‘ Hindu Business Line ’ (electronic editions available) . The same is being made available on the Bank’s website www.idfcfirstbank.com.

Please take the above on record and acknowledge receipt of the same.

Thanking you,

Yours faithfully,

For IDFC FIRST Bank Limited

Digitally signed by SATISH ASHOK GAIKWAD SATISH DN: c=IN, o=Personal, title=6268, pseudonym=32ce1b94c8b644d2d28aa2a62 2d313b9493b089b, 2.5.4.20=d506d0806a3bdf5eb0d2137692e0c ASHOK 22af4c64e451e400f023db0b8bcf8b4b9d2, postalCode=400078, st=Maharashtra, serialNumber=edce8e92f33ff5ae8664e7ee9 88f4ffd60f2d8c56e4de31ba1262fd22fde198 GAIKWAD 7, cn=SATISH ASHOK GAIKWAD Date: 2021.11.04 22:32:32 +05'30' Satish Gaikwad Head - Legal & Company Secretary Encl.: as above

IDFC FIRST Bank Limited

Naman Chambers, C 32, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051. Tel: +91 22 7132 5500 Fax: +91 22 2654 0354 Registered Office: KRM Towers, 7th Floor, No.1, Harrington Road, Chetpet, Chennai - 600 031. Tel: +91 44 4564 4000 Fax: +91 44 4564 4022 CIN: L65110TN2014PLC097792 [email protected] www.idfcfirstbank.com

CHENNAI

NEWS 3

BusinessLine THURSDAY[•] NOVEMBER 4[•] 2021

COP 26 SUMMIT

Govt makes case for climate finance to attain goals, meets counterparts

Britain says it is increasing finance for poorer nations

Britain says it is The UK called on the world’s financial industry to increasing finance provide resources for for poorer nations greener investments that would help the world meet OUR BUREAU its climate goals. New Delhi, November 3 The Indian Minister also Environment Minister Bhu­ met Scotlands Minister of pender Yadav held bilateral Economy and Finance, Kate meetings with Ministers Forbes. from countries including “On behalf of the Indian Scotland and the UK on Wed­ delegation, thanked the nesday, on the sidelines of Scottish administration for the COP 26 Climate Change Climate finance cannot continue at the levels decided in 2009 and holding the event so profes­ Summit, highlighting In­ should be at least $1 trillion, says Yadav SHIV KUMAR PUSHPAKAR sionally and the excellent dia’s commitment to fight hospitality extended by the climate change and stress­ Office (FCDO). billion annual funding, people of Scotland,” Yadav ing on the necessity of ad­ The Indian Minister had promised to developing tweeted. equate finance from rich na­ pointed out, at a meeting of countries in 2009, for the Prime Minister Narendra tions to attain global climate Like­Minded Developing next five years. Modi has already made signi­ goals. Countries (LMDC) on Tues­ The UK government ficant commitments at the “India and the UK can play day, that climate finance can­ echoed India’s concerns COP 26, earlier this week. a crucial role in the fight not continue at the levels de­ about adequate finance at These include achieving car­ against climate change and cided in 2009. It should be at another event at the Sum­ bon neutrality by 2070, both countries agreed to least $1 trillion to meet the mit. achieving 500 GW installed work together to reach a goals of addressing climate capacity through non­fossil transparent and inclusive change and there should be Need for resources fuel sources by 2030, ful­ negotiated climate outcome a system to monitor climate UK Treasury chief Rishi filling 50 per cent of its en­ at Glasgow,” Yadav tweeted finance as there is for monit­ Sunak assured that his gov­ ergy requirements from re­ following his meeting with oring mitigation, he said. ernment was providing newables by 2030, reducing 1 Lord Tariq Ahmad, UK Minis­ India, Brazil, South Africa fresh financing to help billion tonne of carbon emis­ ter for South Asia, the United and China (BASIC countries), poorer countries deal with sions from the total projec­ Nations and the Common­ at the beginning of the Sum­ climate change, but he un­ ted emissions by 2030 and wealth at the Foreign, Com­ mit, had also asked for a derlined that public invest­ reducing carbon intensity by monwealth & Development road­map for providing $100 ment alone wasn’t enough. 45 per cent in its economy.

‘Cap GeM transaction charges to attract traders’

Piyush Goyal urges officials to guard against cartelisation, collusion

Piyush Goyal urges officials to needed to bring most appropri­ ate buyers and sellers together guard against cartelisation, collusion for transactions. Use of AI would also act as a watchdog against OUR BUREAU Seeking more transparency business malpractices like col­ New Delhi, November 3 in the system, Goyal said that lusion and cartelisation which Commerce and Industry Minis­ operations should be audited often sneak in online business ter Piyush Goyal has proposed regularly to ensure that all tech­ platforms,” the release said. that transaction charges for the nical and financial aspects of The pilot project to integrate GeM (Government e­Market) GeM stay strong all the time. He GeM with the Indian Railways E­ platform be reduced and asked officials to make GeM Procurement System (IREPS) capped to attract more traders. more user and will be launched by next month Goyal also cautioned officials commerce­friendly. Piyush Goyal, while the process of integrating against cartelisation and collu­ Commerce and Industry Min GeM with India Post and Min­ sion on GeM and asked them to What GeM does istry of Panchayati Raj is in pro­ stay alert, at a review of the func­ GeM is a government­owned organisations. gress, the GeM officials apprised tioning of GeM on Wednesday. company set up under the aegis The Minister also sought to the Minister. “The Minister asked the offi­ of the Department of Com­ promote the use of AI (artificial Goyal asked GeM authorities cials to make GeM more afford­ merce providing an online plat­ intelligence) in the operations to wrap­up the pending audit able and increase the volume of form for procurement of goods of GeM and simplify the system. by the Directorate of Standard­ business,” according to an offi­ and services by Central and “He said that as volume of oper­ isation Testing and Quality cial release. State government ations grow, AI would be Certification.

OUR BUREAU

TRAI to discuss tariffs for SMS, alerts via CAP platform

OUR BUREAU munications (DoT) allows SMS service providers (TSPs) The purpose of this consulta­

New Delhi, November 3 and cell broadcast free of cost through CAP platform during tion paper is to elicit stake­ The Telecom Regulatory Au­ only for a definite period and disasters/non­disasters. “How­ holders’ views on the tariff for thority of India (TRAI) on Wed­ for events where a specific re­ ever, there are occasions when SMS/cell broadcast dissemin­ nesday released a consultation quest for free of cost messages the government would like to ated by TSPs through CAP plat­ paper to discuss tariff­related comes from specific nodal send alert messages to the pub­ form during disasters/ non­dis­ issues for SMS and cell broad­ authorities. lic forewarning of a possible asters and to understand the cast alerts disseminated disaster or occasions where technical aspects that might through Common Alerting Specific occasions public has to be informed of have an impact on the cost of Protocol (CAP) platform dur­ The DoT had requested TRAI to special events such as holding the service. TRAI has invited ing disasters and provide tariff for SMS and Cell of relief/vaccine/medical written comments by Decem­ non­disasters. Broadcast alerts/messages to camps/specific law and order ber 1, and counter­comments The Department of Telecom­ be disseminated by telecom related situations,” it said. by December 15.

OUR BUREAU

CBIC moves to empanel IRS officers for Secretary/Addl Secretary posts

Officials question even as Special Secretary. Empanelment in 2021 ation by the CBIC dated level empanelment, eligibil­ However, eligible officials November 2, for Secretary ity criteria includes a min­ the merits of Secretary & Secretary Equivalent Additional Secretary do not seem to be very ex­ level empanelment, there imum of 25 years of service such a move cited move and do not see muchabout the present Date Service Batch No Date Service Batch 1993 No are two eligibility criteria – aminimum of 30 years ser­ in Group A and minimum of7 years’ in a post in the Level SHISHIR SINHA merit in this exercise. One Oct 23, 2021 IAS 1990 27 Oct 6, 2021 IAS 1994 42 vices in Group A and min­ 14 of pay matrix (₹1.44 lakh 1995 New Delhi, November 3 such officer said IAS officers imum of 2 years’ services in to ₹2.18 lakh) in the pay The Central Board of Indir­ belonging to the 1990 and 1985 1991 a post in the Level 15 of pay cadre. There are other condi­ ect Taxes & Customs (CBIC) 1991 batch had already been Oct 6, 2021 IAS 1987 12 Jul 6, 2021 IAS 1992 15 matrix (₹1.82 lakh to ₹2.24 tions for this post as well. has invited applications empanelled as Secretary and 1988 1993 lakh) or more. Apart from The year of examination (for from Group ‘A’ officers be­ Additional Secretary 1989 1994 these, there are other cri­ the applicant) should not be longing to the Indian Rev­ respectively. IPoS IPS, 1987 teria for consideration. The later than 1994 (1995 batch) enue Service – Custom & In­ “The 1989 batch of IAS is 1987 IIS, 1988 year of examination (for the and the applicant should direct Taxes (IRS­ C&IT) for already posted as Secretary. Feb 11, 2021 IAS 1988 40 Feb 6, 2021 IRS (IT), 1989 14 applicant) should not be have been empanelled as a appointment at the level of For other services you are 1989 IA&AS, 1990 later than 1989 (1988 batch), Joint Secretary. There are Secretary & Additional Sec­ making them eligible for Ad­ IDAS 1991 the applicant should have conditions related with CSS retary in the Government of ditional Secretary now,” he 1992 been empanelled at the Ad­ and residual service as well. India. said pointing out the differ­ IDAS, 1988 ditional Secretary level and The last date of sending Usually, officers from the ence in treatment. Feb 5, 2021 IFoS, 1986 3 Jan 13, 2021 IAS 1989 10 should also have had at least the application through on­ Indian Administrative Ser­ IRAS 1990 3 years experience under the line mode is November 5. vice (IAS) get the position of Questions raised Source: DoPT Central Staffing Scheme at IRS is one of the 19 services Secretary to the Government Another officer too raised the level of Deputy Secretary and posts (3 All India Ser­ of India. However, there are the issue of posting. “When to benefit you?” he asked tional Secretary) officers, the and above. The officer con­ vices, 12 Group A posts and 4 number of other positions you are already empanelled This is the second invita­ second one is for 1989 batch cerned should have at least Group B Posts) for which the in the Central government as Joint Secretary (JS) and Ad­ tion for the positions since (Secretary) and 1995 (Addi­ one year’s residual service. Union Public Service Com­ where officers are appointed ditional Secretary (AS) and July. While the first one was tional Secretary) batch mission (UPSC) conducts with pay and perks of Secret­ not suitably posted, then for the 1988 batch (Secret­ officers. Criteria for Addl Secy Civil Service Examination ary, Secretary Equivalent or how is this exercise is going ary) and 1994 batch (Addi­ According to a communic­ For Additional Secretary (CSE) every year.

UGRO Capital Q2 net profit down 80%

Refrain from routinely appealing against arbitration: Centre

Success rate of in arbitration/court cases has has considered both legal mer­ ults in huge financial losses to down 80% resulted in payment of heavy its and the practical chances of the government. Hence, in ag­ appeals against damages/compensation/addi­ success and after considering gregate, it is in public interest OUR BUREAU arbitration awards tional interest cost, thereby the cost of, and arising to take the risk of paying a sub­ Mumbai, November 3 causing more harm to the ex­ through, litigation/appeal/fur­ stantial part of the award U GRO Capital reported an 80 to be monitored chequer, in addition to tarnish­ ther litigation, as the case may amount subject to the result of per cent drop in its net profit ing the image of the govern­ be, it is satisfied that such litiga­ the litigation, even if in some for the second quarter of the PMANOJ ment,” it said. tion/appeal/further litigation rare cases of insolvency etc. re­ fiscal at ₹3.37 crore compared Mumbai, November 3 cost is likely to be financially covery of the amount in case of to ₹17.17 crore in the same The Centre has instructed pub­ Due consideration beneficial compared to accept­ success may become difficult,” period last fiscal. lic authorities to refrain from ner, but only when the case The procuring entity should ing the arbitration/court it said. For the quarter­ended “routinely” appealing against genuinely merits going for the monitor the success rate of ap­ award,” the General Instruc­ During operation of con­ September, its total revenue arbitration/court awards relat­ appeal and there are high pealing against arbitration tions said. tracts, issues and disputes jumped by 80.1 per cent to ing to disputes involving pub­ chances of winning in the awards. According to the govern­ arising due to lack of clarity in ₹62.7 crore from ₹34.82 crore a licly funded projects, unless court/higher court,” said the There should be a clear del­ ment, statistics have shown the contract become the root year ago. However, total ex­ there is a compelling case to do new General Instructions on egation to empower officials to that in cases where the arbitra­ cause for litigation. penses also shot up by 80.1 per so, including realistic probabil­ Procurement and Project Man­ accept arbitration/court or­ tion award is challenged, a “Litigation has adverse im­ cent on a year­on­year basis to ity of success in the court/ agement issued by the govern­ ders. A special board/commit­ large majority of cases are de­ plications on the timelines and ₹57.98 crore in the second higher court. ment on October 29. tee may be set up to review the cided in favour of the con­ overall cost of the project. Be­ quarter of the fiscal. Net in­ “In cases where there is a de­ “There is a perception that case before an appeal is filed tractor. “In such cases, the fore resorting to arbitration/ lit­ terest income for the second cision against Government/ such appeals are sometimes re­ against an order. amount becomes payable with igation, the parties may opt for quarter increased by 53 per Public Sector Enterprise (PSE), sorted to postpone the prob­ “The board/committee or interest, at a rate which is often mutual discussion, mediation, cent to ₹31.7 crore compared to the decision to appeal should lem and defer personal ac­ other authority deciding on far higher than the govern­ and conciliation for the resolu­ ₹20.7 crore in the second not be taken in a routine man­ countability. Casual appealing the matter shall clarify that it ment’s cost of funds. This res­ tion of disputes,” it added. quarter of last fiscal.

RBI to find model flaws in

RBI COMMITTEE

‘Performance of ARCs in management of stressed assets of banks, FIs still uneven’

OUR BUREAU Greening India’s Financial

Mumbai, November 3 System­NGFS, the RBI said it stressed assets of banks, FIs still uneven’ The Reserve Bank of India will build awareness about (RBI) on Wednesday pub­ climate­related risks among

OUR BUREAU demption is measured in terms The committee observed that assume that the problems of ARC lished its ‘Statement of Com­ regulated financial institu­

Mumbai, November 3 of the book value of the assets ac­ ARCs’ performance in ensuring sector are entirely of its own mak­ mitment to Support Green­ tions and spread knowledge The performance of asset recon­ quired. revival of businesses has also ing. In fact, the ageing of NPAs be­ ing India’s Financial System ­ about issues relating to cli­ struction companies (ARCs) in “This implies that banks and been poor. The data indicatethat fore their sale may be contribut­ Network for Greening the mate change and methods management of stressed assets of other investors could recover approximately 80 per cent of the ing to poor recovery. This gets Financial System (NGFS)’ to deal with them accord­ banks/financial institutions (FIs) only about 14 per cent of the recovery for the sector, so far, has further aggravated by lack of whereby it will explore how ingly. since inception in 2003 is still un­ amount owed by their borrow­ come through deployment of debt aggregation.” climate scenario exercises The central bank’s com­ even on several parameters, ac­ ers,” the committee headed by Su­ methods of reconstruction that can be used to identify vul­ mitment takes into account cording to a Reserve Bank of India darshan Sen, former Executive do not necessarily lead to revival Inadequate capital nerabilities in supervised national commitments, pri­ Committee report on the func­ Director, RBI, said. of business. Revival of stressed business typic­ entities’ (SEs) balance sheets orities and complexity of the tioning of asset reconstruction The total SRs issued reflects the “ARCs have rarely used meth­ ally requires additional funding and integrate climate­re­ financial system. companies. cost of acquisition for the ARCs ods such as change in or takeover which is difficult to come by for lated risks into financial sta­ vis-à-vis the book value of such of the management of the busi­ old NPAs. bility monitoring. BusinessLine Recovery financial assets. Redemption of ness of the borrower or conver­ “Inadequate capital at ARC Disclaimer: Readers are requested to verify Overall recovery made by the ARC SRs is a proxy for the amount re­ sion of debt into equity in a bor­ level and the regulatory prescrip­ Identifying vulnerabilities &themselves about the veracity of anmake appropriate enquiries to satisfy sector during FY04­FY13 was 68.6 covered from these accounts. rower’s company,” the panel said. tion limiting the extent of funds The central bank will also advertisement before responding to any per cent when measured in terms ARCs are required to resolve Rescheduling of payment of that could be raised, from ex­ identify vulnerabilities in published PUBLISHING PVT LTD., the Publisher &in this newspaper. THG of redemption of Security Re­ the assets within a maximum of debts was also involved only in ternal investors through securit­ SEs’ business models and Owner of this newspaper, does not vouchfor the authenticity of any advertisement ceipts (SRs) which are issued by eight years of acquisition of fin­ 19.9 per cent of the recovery made isation, seems to have made ARCs’ gaps in capabilities for or advertiser or for any of the advertiser’s ARCs as part of securitisation of ancial assets and redeem the SRs by ARCs. attempt at revival of businesses measuring and managing products and/or services. In no event canthe Owner, Publisher, Printer, Editor, assets acquired, as a percentage representing the assets. There­ The committee stated, “The even more difficult. ARCs’ lack of climate­related financial Director/s, newspaper/company Employees be of heldthis of total SRs issued, the report said. fore, the period after FY13 has SRs overall performance of ARC sec­ skill sets in turning around bor­ risks. responsible/liable in any manner However, the same comes down for which resolution is still un­ tor has left much to be desired. rowers cannot be ignored,” the As part of its Statement of whatsoever for any claims and/or damagesfor advertisements in this newspaper. to 14.29 per cent when the re­ derway. However, it would be incorrect to committee said. Commitment to Support CM YK

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