Ujjivan Small Finance Bank CEO steps down due to health issues; Carol Furtado named acting chief

Ujjivan Small Finance Bank

01/09/2026 09:54

MUMBAI, Sept 1 (Reuters) - India's Ujjivan Small Finance Bank UJJI.NS said on Tuesday that Chief Executive Sanjeev Nautiyal has stepped down from his role with immediate effect due to health issues and would retire from the bank at the end of November.
The lender has appointed Executive Director Carol Furtado as acting CEO, subject to central bank approval, it said in a stock exchange filing.
Here are some details:
Ujjivan said Nautiyal, who served as CEO since July 2024, had submitted his request for early retirement on August 31 with a three-month notice period, which was approved by the bank's board.
Nautiyal will remain on leave until November 30, when he will retire from the bank.
The board will begin the process of identifying a permanent successor and submit its recommendation to the Reserve Bank of India in due course, it said.
Ujjivan has been seeking to transition from a small finance bank to a universal lender, a move that would allow it to operate with a broader banking mandate.
The RBI returned its universal bank application in April and asked it to reapply after further diversifying its loan portfolio.

 (Reporting by Ashwin Manikandan; Editing by Sonia Cheema)
 ((Ashwin.Manikandan@thomsonreuters.com;))