Business

RBI Reappointed P Vasudevan as Managing Director and CEO of Equitas Small Finance Bank

The Reserve Bank of India (RBI) has granted another term to P Vasudevan as Managing Director and CEO of Equitas Small Finance Bank on June 16th. This is the second time Vasudevan is appointed on this particular postion. Vasudevan’s term will be of 3 years and it will start from July 23, 2023 to July 23, 2026. The bank has shared this information to exchange in a filing on Friday.

Also read-Adipurush Brings Positive Hopes to Bollywood’s Box Office Fortunes in Q2

Vasudevan Stepped Down From His Position

Vasudevan has expressed his desire to step down from his position in May. Reason behind this was Vasudevan’s intent to work for social welfare through his Public Charitable Trust, but In December 2022, the bank announced that Vasudevan will remain as MD and CEO of the bank.

Equitas Small Finance Bank’s plan-

Equitas Small Finance Bank is planning to apply for a universal bank license with the central bank. Talking about this plan Vasudevan said, ‘’ We are keen to work on this and are waiting for the regulator’s approval. This is something we have on cards, and once we get the Reserve Bank of India’s (RBI) approval, we will apply for the same’’.
Vasudevan is the founder of Equitas and has been associated with the organization since 2007. In 2016, under his leadership, Equitas Small Finance Bank was converted into a bank

Pragati Vajpai

Recent Posts

PM Modi Announces Sending Lord Buddha’s Relics To Thailand

PM Modi announced that India will send relics of Lord Buddha, discovered in Gujarat’s Aravalli…

7 hours ago

PM Modi Shares Highlights From Bangkok: A Vibrant Welcome, Community Connect, & The Ramayan!

Prime Minister Narendra Modi highlighted the deep cultural ties between India and Thailand during his…

7 hours ago

Judicial Strength At Risk, Says Delhi HC Bar Association On Justice Singh’s Transfer

The Delhi High Court Bar Association has raised concerns over Justice Chandra Dhari Singh’s transfer…

8 hours ago

PM Modi: Thailand Key To India’s ‘Act East’ Policy & Indo-Pacific Vision

Prime Minister Narendra Modi, during his visit to Bangkok, highlighted Thailand's strategic importance in India's…

8 hours ago

Thailand Releases Commemorative Stamp Showcasing 18th-Century Ramayan Murals During PM Modi’s Visit

Thailand unveiled a commemorative stamp featuring 18th-century Ramayan mural paintings, marking the first day of…

9 hours ago

Centuries-Old Bonds Strengthen As India-Thailand Deepen Partnership: PM Modi

PM Modi and Thai PM Paetongtarn Shinawatra elevate India-Thailand ties to a strategic partnership in…

9 hours ago