Transfers & Postings · BFSI
The Equitas SFB board approved the appointment on the recommendation of its Nomination and Remuneration Committee after Managing Director and CEO P. N. Vasudevan resigned.
✦ AI SUMMARY 30-second read
- Balaji Nuthalapadi, currently Whole-Time Director (Executive Director), is named interim CEO of Equitas Small Finance Bank, subject to RBI nod.
- The appointment follows the resignation of P. N. Vasudevan as Managing Director and CEO; the board has begun a search for a permanent successor.
- Nuthalapadi brings 28 years of experience at Citi, including as Managing Director and Head of India Citi Solutions Centers.
Why it matters: The appointment ensures leadership continuity at Equitas Small Finance Bank while a permanent successor to Vasudevan is identified.
This summary was generated by AI. Editors may review and update it.
Equitas Small Finance Bank Limited has named Balaji Nuthalapadi, its Whole-Time Director (Executive Director), as Interim Chief Executive Officer, subject to approval by the Reserve Bank of India.
The board approved the move on the recommendation of the Nomination and Remuneration Committee, following the resignation of P. N. Vasudevan as Managing Director and CEO. The appointment will take effect from the date of RBI approval, or such other date as the regulator may stipulate.
The appointment
Nuthalapadi has been credited with strengthening the bank's digital capabilities, technology upgrades and operational efficiency during his tenure as Whole-Time Director.
Before joining Equitas, he spent 28 years at Citi, where his roles included Managing Director and Head of India Citi Solutions Centers.
What happens next
The bank has assured a smooth leadership transition and said it has initiated the process to identify a permanent successor to Vasudevan.
The board placed on record its appreciation for Vasudevan's leadership and contributions during his tenure.
About the officer
Balaji Nuthalapadi
| New post | Interim Chief Executive Officer, Equitas Small Finance Bank Limited |
|---|---|
| Previous post | Whole-Time Director (Executive Director), Equitas Small Finance Bank Limited |
| Career so far | He spent 28 years at Citi, including as Managing Director and Head of India Citi Solutions Centers, before joining Equitas Small Finance Bank. |
| Notable work | He played a key role in strengthening the bank's digital capabilities, technology upgrades and operational efficiency. |
