Ujjivan Small Finance MD Nautiyal resigns for health reasons, Furtado acting MD
This story was originally published at 14:19 IST on 1 September 2026
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--Sanjeev Nautiyal will not be MD, CEO of Ujjivan Small Finance Bank from Tue
--Ujjivan Small Finance Bank appoints Carol Furtado as acting MD, CEO
--Ujjivan Small Fin Bank board in process of finding successor to S Nautiyal
NEW DELHI – Sanjeev Nautiyal has resigned as managing director and chief executive officer of Ujjivan Small Finance Bank, the lender informed the exchanges. The bank's board approved Nautiyal's request for early retirement in view of his health issues. He will be on leave with effect Tuesday until the expiry of his notice period on Nov. 30. He, however, ceases to be managing director and chief executive officer with effect from Tuesday, the bank said.
The board also approved the appointment of Carol Furtado, currently executive director, as acting managing director and chief executive officer with effect from Tuesday, subject to approval from the Reserve Bank of India. Furtado is a key member of the leadership team that had laid the foundation of Ujjivan Small Finance Bank.
Further, the bank said it will initiate the process of identifying a successor to Nautiyal and submit its recommendation to the RBI in due course. For the June quarter, the bank's net profit rose to INR 3.17 billion from INR 1.03 billion for the year-ago period. At 1318 IST, the lender's shares traded at INR 68.14 apiece on the National Stock Exchange, down 1.4%. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Vaishali Tyagi
Edited by Rajeev Pai
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