Chennai: Equitas Small Finance Bank’s board on Tuesday approved the appointment of whole-time director (executive director) Balaji Nuthalapadi as interim CEO, subject to approval from the Reserve Bank of India (RBI).
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Vasudevan’s relieving date will be decided after RBI approval for the interim CEO’s appointment and in consultation with him, according to a communication to the stock exchanges. The appointment follows the resignation of P N Vasudevan as MD and CEO. Nuthalapadi’s appointment will take effect from the date of RBI approval or any other date specified by the regulator. The board has initiated the process of identifying Vasudevan’s successor and will submit its recommendation to the RBI. Download the TOI App.