By CNBC-TV18 Jun 16, 2022 12:02:29 AM IST (Published)
"We wish to inform that pursuant to the Bank’s application vide its letter dated May 23, 2022, RBI has approved the proposal to re-appoint Vasudevan P N as the Managing Director & Chief Executive Officer of the bank, for a period of one year with effect from July 23, 2022," the bank said in a regulatory filing.
Chennai-based Equitas Small Finance Bank (ESFB) on Wednesday said the Reserve Bank of India (RBI) has approved the re-appointment of Vasudevan P N as the managing director and chief executive officer of the bank for one year.
"We wish to inform that pursuant to the Bank’s application vide its letter dated May 23, 2022, RBI has approved the proposal to re-appoint Vasudevan P N as the Managing Director & Chief Executive Officer of the bank, for a period of one year with effect from July 23, 2022," the bank said in a regulatory filing.
Earlier in May this year, ESFB founder and CEO Vasudevan had asked the lender to look for his successor as he wanted to step down to pursue ''a distinct set of goals''. He is also the managing director of Equitas, which began as a microfinance institution in 2007 and was later converted into a bank in 2016.