Equitas Small Finance Bank CEO Resigns Over Daughter’s Business
PN Vasudevan resigned as managing director and CEO, citing a potential conflict-of-interest overhang related to his daughter promoting a non-bank entity. The bank’s shares fell 20% on Thursday.
Mumbai, Oct. 29 -- Shares of Equitas Small Finance Bank crashed 20% on Thursday, after managing director and chief executive officer PN Vasudevan resigned citing "overhang" of potential conflict of interest from his daughter promoting a non-bank entity.In a letter to the bank's chairman and board o…