Equitas Small Finance Bank has announced a significant change in its leadership structure, designating Ms. Smitha Kumar as Senior Management Personnel (SMP) effective October 1, 2025. This move comes as part of the bank's internal restructuring to enhance its management capabilities.

New Role and Responsibilities

Ms. Kumar, who currently serves as the Head of Customer Experience at Equitas Small Finance Bank, will continue in this role while taking on additional responsibilities as an SMP. The bank's decision to elevate her position is a result of changes in its internal reporting structure, reflecting the importance of customer experience in the bank's strategic vision.

Extensive Industry Experience

With over 26 years of rich experience in Service Delivery and Customer Experience across the Banking, Financial Services, and Insurance (BFSI) sector, Ms. Kumar brings a wealth of knowledge to her expanded role. Her expertise spans various aspects of customer-centric banking operations, making her a valuable asset to the bank's senior management team.

Recognition and Achievements

Throughout her career, Ms. Kumar has been recognized for her innovative approach to customer experience. Her initiatives have garnered awards in numerous forums, highlighting her ability to drive transformation in banking services. This track record of success positions her well for her new responsibilities within the bank's leadership.

Impact on Bank Operations

The appointment of Ms. Kumar as an SMP is expected to further strengthen Equitas Small Finance Bank's focus on customer-centric strategies. Her extensive experience and proven track record in transforming customer experiences are likely to play a crucial role in shaping the bank's future initiatives and enhancing its competitive edge in the small finance banking sector.

Regulatory Compliance

In compliance with regulatory requirements, Equitas Small Finance Bank has duly informed the National Stock Exchange of India Limited and BSE Limited about this appointment. The bank has emphasized that this change is part of its ongoing efforts to align its management structure with its strategic goals and to enhance its operational efficiency.

As Equitas Small Finance Bank continues to evolve in the competitive banking landscape, the elevation of Ms. Smitha Kumar to the Senior Management Personnel role underscores the bank's commitment to leveraging experienced leadership to drive customer satisfaction and overall growth.

Equitas Small Finance Bank has announced significant changes in its senior management team, with new appointments in critical roles set to take effect on September 12, 2025.

New Head of Internal Audit

Mr. Vikas Jagdish Jajoo will assume the position of Head of Internal Audit at Equitas Small Finance Bank. With this appointment, Jajoo will also join the bank's Senior Management team. His term is set for three years, commencing from the date he takes charge.

Jajoo brings a wealth of experience to his new role, boasting nearly three decades in internal audit and risk management. His impressive credentials include:

• Chartered Accountant (ICAI)
• Cost Accountant (ICWA)
• Certified Internal Auditor (IIA, Florida)

Prior to joining Equitas, Jajoo held positions at several notable financial institutions, including:

• Fusion Finance Limited
• IndusInd Bank Limited
• SBI Card
• Spandana Sphoorty Financial Limited

Transition in Vigilance Leadership

Concurrent with Jajoo's appointment, Mr. V S Sivapprakash, who previously served as the Head of Internal Audit, will transition to a new role as the Head of Vigilance. This change will also take effect on September 12, 2025. As part of this move, Sivapprakash will step down from his position in the Senior Management team.

Regulatory Compliance

The bank has made these announcements in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The changes have been duly reported to the National Stock Exchange of India Limited and BSE Limited.

These strategic shifts in leadership roles at Equitas Small Finance Bank underscore the institution's commitment to maintaining robust internal audit and vigilance functions, which are crucial for ensuring the bank's operational integrity and regulatory compliance.