Ujjivan SFB MD & CEO Sanjeev Nautiyal Resigns; Carol Furtado Appointed Acting MD & CEO

Ujjivan Small Finance Bank Limited (USFB) has announced a significant change in its leadership. Mr. Sanjeev Nautiyal, the Managing Director & Chief Executive Officer (MD & CEO) of the Bank, has expressed his desire for early retirement due to health issues. His request was considered and approved by the Board of Directors on September 01, 2026.

Mr. Nautiyal will be on leave from September 01, 2026, until his retirement from the Bank on November 30, 2026. He will cease to be the MD & CEO and Key Managerial Personnel effective September 01, 2026. The Board acknowledged Mr. Nautiyal's contributions over his 2+ year tenure, highlighting the Bank's progress in areas such as secured book growth, deposit franchise, digital capabilities, and risk management.

Following the recommendation of the Nomination and Remuneration Committee, the Board has approved the appointment of Ms. Carol Furtado, the current Executive Director (Whole-Time Director), as the acting MD & CEO of the Bank, effective September 01, 2026. This appointment is subject to the approval of the Reserve Bank of India. Ms. Furtado is a seasoned banker with over three decades of experience and has been a key member of the leadership team.

The Bank's established leadership development and succession planning initiatives are expected to ensure a seamless transition. The Board will commence the process of identifying a permanent successor to Mr. Nautiyal and will submit its recommendation to the Reserve Bank of India in due course. The Board meeting concluded at 11:44 AM on September 01, 2026.