RBI lifts restrictions on Equitas Small Finance Bank

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on the remuneration of the MD and CEO of the bank at the level that existed on September 6, 2019, which has now been withdrawn.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.