As you are aware, IDFC Limited (IDFC) is the promoter of IDFC FIRST Bank and is currently holding through its wholly owned subsidiary, IDFC Financial Holding Company Limited (FHCL) ~ 36.50 per cent equity in IDFC FIRST Bank. Under the 2013 guidelines of RBI, IDFC, as a promoter, was required to hold a minimum 40 per cent share-holding for a period of 5 years from commencement date of operations of the bank. This five-year lock-in period ended on September 30, 2020. RBI vide their letter dated July 20, 2021 has clarified that after the expiry of the lock-in period of 5 years IDFC Limited can exit as the promoter of IDFC FIRST Bank. A copy of this letter is attached herewith. (Annexure – I)