Equitas Small Finance Bank has imposed a fine on its VicePresident - Internal Audit, N. Ganesan, for violation of insider trading norms.
In a regulatory filing, the bank said that the Ganesan, adesignated person, had sold 1,000 shares during trading window closure periodand also entered into contratrade on November 2020.
"The violation was brought to the notice of the DisciplinaryAction Committee (DAC) of the bank, which levied on the violating DesignatedPersons, a penalty of an amount equivalent to 10 per cent of the value ofshares traded in violation of the SEBI Regulations and Internal Code ofConduct," it said.
Equitas Small Finance Bank was among the several companieswhich launched their IPO amid the pandemic. Equitas launched its IPO inOctober.
Around 3.00 p.m., its shares were trading at Rs 37.15, higherby 1.78 per cent from its previous close.