Equitas Small Finance Bank Share Price Rises 8.5%; Appoints Balaji Nuthalapadi as Interim CEO

Equitas Small Finance Bank has appointed Balaji Nuthalapadi as Interim Chief Executive Officer, subject to approval from the Reserve Bank of India (RBI), as per an exchange filing dated November 4, 2026.  

Its Board approved the appointment on November 3, 2026, following a recommendation from the Nomination and Remuneration Committee. This follows P. N. Vasudevan’s resignation as Managing Director and CEO. 

Nuthalapadi is currently a Whole-Time Director and Executive Director at the bank. His appointment will take effect from the date of RBI approval, or another date set by the regulator.  

Nuthalapadi’s Experience at Citi 

Before joining Equitas, Nuthalapadi worked at Citi for 28 years. His roles included Managing Director and Head of India Citi Solutions Centres, and Head of India Operations and Technology. 

His work covered asset sales, wealth management, re-engineering, consumer operations and technology. He held roles across Asia and the Europe, Middle East and Africa (EMEA) region. He also led the expansion of Citi’s Global Capability Centre operations in India. 

At Equitas, he has worked on the bank’s digital capabilities, technology and operational efficiency. 

Board Begins Search for Successor 

The Board has started the process of identifying a permanent successor to Vasudevan. It will submit its recommendation to the RBI under applicable regulatory requirements. 

Vasudevan’s relieving date will be decided after RBI approval of the interim appointment and in consultation with him. The Board has recorded its appreciation for his contribution and service during his tenure. 

About Equitas Small Finance Bank 

Equitas Small Finance Bank offers banking products and services to individuals, small and medium enterprises and corporates.  

Its lending strategy includes providing credit to unbanked and underbanked micro and small entrepreneurs. It also serves affluent and mass affluent customers. 

Read More: Emcure Pharmaceuticals Share Price Hits 10% Upper Circuit After Revised Guidance! 

Equitas Small Finance Bank Share Price Performance  

As of November 4, 2026, 1:30 pm, Equitas Small Finance Bank share price was trading at ₹57.13, an 8.51% increase from the previous closing price. 

Conclusion  

The bank noted that its focus on its business objectives and customer relationships would continue. Nuthalapadi’s appointment remains subject to RBI approval, while the Board’s search for a permanent successor is underway. 

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