Events though, have conspired to land P. N. Vasudevan, MD & CEO of Equitas Small Finance Bank, where he is today. His company, Equitas, announced a lending rate of 25.5% when others gave loans for a flat rate of 12-13%. “But, their flat rate was effectively 35-40% on a reducing balance.” His biggest challenge was when his own field staff came to him seeking to change the messaging to a flat rate of interest. Becoming a bankBut why did he choose to become a small finance bank (SFB)? Though the holding company is technically the promoter of the bank, the holding company is publicly held.

Source: The Hindu January 06, 2019 16:52 UTC