Equitas Small Finance Bank shares rose over 9.5% on November 4 after the lender announced Balaji Nuthalapadi as its interim CEO.
"Equitas Small Finance Bank Limited announced on 3 November 2026 that its Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, has approved the appointment of Balaji Nuthalapadi, currently serving as a WholeTime Director (Executive Director) of the Bank, as its Interim Chief Executive Officer (CEO), subject to the approval of the Reserve Bank of India (RBI)," the lender said in a stock exchange filing.
As Executive Director at Equitas Small Finance Bank Limited, Balaji Nuthalapadi has played a pivotal role in enhancing digital capabilities, upgrading technology and improving operational efficiency, the lender added.
At 11:45 am on November 4, Equitas SFB shares were trading 9.6% higher at Rs 57.72 apiece.
Prior to joining Equitas Small Finance Bank Limited, he was with Citi for 28 years and served as Managing Director and Head of India Citi Solutions Centers and Head of India Operations and Technology. He worked in multiple geographies across Asia & EMEA in roles spanning asset sales, wealth management, re-engineering, consumer operations and technology and Global Capability Center leadership where he led the scale-up of Citi’s global hubs in India.