Equitas Small Finance Bank announced the appointment of Mr. Balaji Nuthalapadi as interim Managing Director & Chief Executive Officer, effective November 06, 2026. This follows the resignation of Mr. P. N. Vasudevan, whose services were relieved with immediate effect. The interim appointment is for a period of three months or until a regular MD & CEO is appointed.
Leadership Transition at Equitas Small Finance Bank
Equitas Small Finance Bank has officially announced a significant change in its top leadership. The Board of Directors, in a meeting held on November 06, 2026, approved the appointment of Mr. Balaji Nuthalapadi as the interim Managing Director & Chief Executive Officer (MD & CEO). This appointment is effective from November 06, 2026, and will last for a period of three months, or until a regular MD & CEO is appointed, whichever is earlier.
Resignation of Previous MD & CEO
The Board also took on record the letter dated November 5, 2026, from Mr. P. N. Vasudevan, the erstwhile MD & CEO, seeking to be relieved from his services. His request was approved, and he has been relieved from his duties with immediate effect. The Board expressed its sincere appreciation for Mr. Vasudevan’s leadership and contributions to the bank’s growth over the years.
Interim MD & CEO’s Profile
Mr. Balaji Nuthalapadi (DIN: 08198456), currently a Whole-Time Director (Executive Director) of the bank, will take on the interim leadership role. He has completed his post-graduation from the Indian Institute of Management (IIM) Ahmedabad and has over 28 years of extensive experience across various markets and functions, including global leadership roles at Citi. He has been serving as an Executive Director at Equitas Small Finance Bank since March 29, 2025.
Trading Window Closure
In accordance with the Bank’s Code of Conduct, the trading window for dealing in the securities of the Bank will remain closed for all designated persons and their immediate relatives on November 07, 2026, and November 08, 2026. The trading window is scheduled to reopen on November 09, 2026.
Source: BSE
