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

Ujjivan Small Finance Bank

01/09/2026 15:02

Adds details on central bank approval in paragraph 2
MUMBAI, Sept 1 (Reuters) - India's Ujjivan Small Finance Bank UJJI.NS said on Tuesday that CEO 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 Reserve Bank of India approved the appointment of Executive Director Carol Furtado as interim CEO from September 1, the company said late Tuesday.
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 RBI 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 Ujjivan's universal bank application in April and asked it to reapply after further diversifying its loan portfolio.

 (Reporting by Ashwin Manikandan and Urvi Dugar; Editing by Sonia Cheema and Shreya Biswas)
 ((Ashwin.Manikandan@thomsonreuters.com;))