CURRENT AFFAIRS

Detailed explanation-1: -Vasudevan’s current term as MD, CEO expires on July 22, 2023 and the board of Equitas Small Finance Bank has decided to renew his term for a further period of 3 years with effect from July 23, subject to approval from the Reserve Bank of India, the lender said.

Detailed explanation-2: -PN Vasudevan, MD & CEO, Equitas Small Finance Bank.

Detailed explanation-3: -Reserve Bank of India has okayed Equitas Small Finance Bank’s proposal to reappoint MD and CEO Vasudevan P N for one year. In a letter to ESFB last month, Vasudevan expressed his desire to quit but did not gave a timeline.

Detailed explanation-4: -Managing Director & CEO. Mr. Anshul Swami is a seasoned banking professional with rich experience in Product & Portfolio management, Driving- lending initiatives in the digital space, Rural branch banking, Deal evaluation, Business planning & implementation, Operations, Sales and Underwriting.

Detailed explanation-5: -Baskar Babu Ramachandran is the Managing Director and Chief Executive Officer of the Bank.