Equitas SFB names Balaji Nuthalapadi interim CEO; shares jump 9%
The appointment needs RBI approval; founder P.N. Vasudevan quit last week over a perceived conflict of interest linked to his daughter's NBFC
1 of 5
Equitas Small Finance Bank's board has named whole-time director Balaji Nuthalapadi interim CEO, subject to RBI approval.
The shares rose nearly 9% to ₹57.25 on the NSE on Wednesday after falling about 27% in two sessions when P.N. Vasudevan announced his exit.
Vasudevan said investors saw a conflict of interest because his daughter co-promotes an NBFC; he said there was none in fact.