Equitas Small Finance Bank looks to submit list of prospective MD candidates in a month

Kolkata: Equitas Small Finance Bank is looking to complete the process of submitting a list of prospective MD & CEO to the regulator within a month or so, top bank officials said Thursday.

A team of four independent directors has been tasked to oversee the search process and shortlist candidates, officials said at a conference call held to provide a management update following the sudden departure of MD & CEO PN Vasudevan.

"Both internal and external candidates can be considered," they said. Hiring agencies have been engaged towards this end.


Vasudevan stepped down amid concerns over a perceived conflict of interest related to his daughter, who is a co-promoter of a non-banking financial company.

The Reserve Bank of India on November 6 approved the appointment of Balaji Nuthalapadi as the interim chief executive officer. He has been appointed for three months from November 06 or until the appointment of a regular head, whichever is earlier.