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