Mumbai, Nov 9 (SocialNews.XYZ) Equitas Small Finance Bank on Monday said that the Reserve Bank of India (RBI) has lifted the restrictions imposed on the bank, including on opening of new branches.
The Central bank had also directed a freeze on the remuneration of the MD and CEO of the bank at the level that existed on September 6, 2019, which has now been withdrawn.
The restrictions were removed after Equitas Small Finance Bank got listed on exchanges earlier in the month.
"We accede to your request for lifting the following regulatory restrictions imposed on Equitas Small Finance Bank Limited (ESFB) vide our letter dated September 6, 2019," RBI said in its communication to ESFB.
Shares of the bank on the BSE were at Rs 32.70, lower by 0.61 per cent from its previous close.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz