Negative impactSector
Equitas SFB may identify new CEO sooner than a month, Vasudevan says no RBI nudge to quit
Economic Times 1 hr ago·29 Oct 2026, 2:45 pm
Equitas Small Finance Bank is actively searching for a new Managing Director and Chief Executive Officer. The bank expects to identify a successor within a month, potentially concluding the process even sooner. This follows the resignation of the current CEO, P N Vasudevan, who stepped down citing persistent investor concerns over a perceived conflict of interest involving his daughter's Non-Banking Financial Company (NBFC). Vasudevan clarified that he held a minimal 0.1 per cent stake in the bank and that his daughter had previously held a 1.5 per cent stake.
This leadership change is a key development for the bank as it seeks to stabilize its management structure and address investor apprehensions. For investors, the appointment of a new CEO is critical to restoring confidence and ensuring the bank's strategic direction remains clear. The market will closely watch the selection process and the new leader's ability to navigate the challenges highlighted by the recent governance issues.
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- Category: Sector.
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