Equitas SFB shares down 27% in 2 days as CEO quits over conflict of interest with daughter's firm

Equitas Small Finance Bank shares crashed over 27% in two days after its CEO, PN Vasudevan, announced he was resigning after a decade. Vasudevan, who quit in 2022 but was asked to stay by the bank's board, resigned citing conflict-of-interest concerns as his daughter Varshini runs Unico Housing Finance, an unlisted NBFC. "Sometimes perceptions are stronger than reality," he said.