Equitas Small Finance Bank Ramps Up Tech Leadership with New Executive Director Appointment

Equitas Small Finance Bank, India’s second-largest small finance bank, has taken a significant step toward digital transformation by appointing Balaji Nuthalapadi as the Executive Director – Technology and Operations, effective 29 March 2025. This strategic move, approved by both the Reserve Bank of India (RBI) and the Bank’s Board, underscores Equitas’ commitment to a tech-led growth journey. With Balaji’s deep expertise in banking operations and digital innovation, the bank aims to reinforce its operational efficiency, drive financial inclusion, and accelerate its digital-first vision.

Key Highlights

New Appointment

  • Balaji Nuthalapadi appointed as Executive Director – Technology and Operations at Equitas Small Finance Bank.

Effective Date

  • The appointment came into effect on 29 March 2025.

Approval Received

  • Appointment approved by the RBI and Bank’s Board.

Background & Expertise

  • Former MD & Head of Centralised Controls Testing Execution at Citi Bank.
  • Built a 1,100-member team for global controls testing in India.
  • Previously MD & Head of Operations and Technology for Citi South Asia.
  • Holds an MBA from IIM Ahmedabad.
  • 20+ years of experience in operations, digital banking, and wealth management.

Role at Citi

  • Played a major role in expanding Citi’s global hubs in India and led operations across India and Southeast Asia.

Strategic Vision at Equitas

  • Driving digital transformation.
  • Enhancing customer experience.
  • Boosting operational efficiency.
  • Supporting the bank’s mission of financial inclusion and social impact.

CEO’s Statement

  • MD & CEO Vasudevan P N emphasized that Balaji’s passion for digital banking and social impact aligns with the bank’s mission.
Summary/Static Details
Why in the news? Equitas Small Finance Bank Ramps Up Tech Leadership with New Executive Director Appointment
Rank in India Second-largest small finance bank
New Appointment Balaji Nuthalapadi
Designation Executive Director – Technology and Operations
Appointment Effective Date 29 March 2025
Approvals RBI and Bank’s Board
Previous Role MD & Head – Centralised Controls Testing, Citi Bank
Team Led at Citi 1,100+ members in India
Past Role at Citi MD & Head – Operations & Technology, Citi South Asia
Shivam

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