Equitas SFB chief PN Vasudevan quits over conflict 'perception', shares slide

Equitas Small Finance Bank MD and CEO PN Vasudevan has resigned, citing a persistent perception of conflict of interest because his daughter co-promotes an RBI-licensed NBFC. He said there are no transactions between the bank and the NBFC, but investors kept raising the issue. The board has asked him to stay on until a successor is found. The stock closed 12.39% lower at ₹56.99.