Equitas Small Finance Bank Limited board approves reappointment of MD and CEO

The Board of Directors of Equitas Small Finance Bank Limited at its Meeting held on December 27, 2021 had considered and approved the proposal for re-appointment of Mr Vasudevan P N (DIN: 01550885) as the MD & CEO of the Bank, for a further period of three years, with effect from July 23, 2022 up to July 22, 2025 (both days inclusive), subject to the approval of the Reserve Bank of India and the Shareholders of the Bank.

Mr Vasudevan Pathangi Narasimhan is the MD and CEO of our Bank. He holds a Bachelor's Degree in Science (Physics) from University of Madras. He is a qualified Company Secretary from the Institute of Company Secretaries of India. He has extensive experience in the financial services sector. He worked for about two decades in Cholamandalam Investment and Finance Company Limited, part of the Murugappa Group, where he joined as a Management Trainee and resigned as the Vice President and Head of Vehicle Finance. He has also served as the Executive Vice President and Head of Consumer Banking Group in Development Credit Bank Limited, for more than one and a half years. He was also the Chairman of the Managing Committee of the South India Hire Purchase Association for Fiscal 2006. He became Managing Director of erstwhile Equitas Finance Limited, now our Bank with effect from July 23, 2016. Prior to joining our Bank, he was the Managing Director of Equitas Holdings Limited.

Shares of Equitas Small Finance Bank Limited was last trading in BSE at Rs. 58.75 as compared to the previous close of Rs. 59.90. The total number of shares traded during the day was 34856 in over 521 trades.

The stock hit an intraday high of Rs. 60.95 and intraday low of 58.70. The net turnover during the day was Rs. 2059268.00.

Source : Equity Bulls

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EquitasSmallFinanceBank INE063P01018 EQUITASBNK Reappointment MD CEO