Ujjivan SFB CEO Sanjeev Nautiyal Retires Early

Sanjeev Nautiyal, the Managing Director and Chief Executive Officer of Ujjivan Small Finance Bank, has opted for early retirement due to health concerns. His resignation took effect on September 1, 2026.

Nautiyal submitted his early-retirement request to the bank on August 31, providing three months' notice. The board approved his request, citing his health issues, and he ceased to be the MD, CEO, and key managerial personnel from September 1.

The bank's board acknowledged Nautiyal's leadership and contribution during his tenure of over two years. Under his leadership, the bank made significant progress, including growth in its secured loan book, a healthier deposit franchise, and improvements in risk management and internal controls.

Following Nautiyal's resignation, the bank appointed Executive Director Carol Furtado as the acting MD and CEO. Furtado's appointment is subject to approval from the Reserve Bank of India. She has over three decades of banking experience and has been part of the leadership team that helped establish and develop Ujjivan.

Furtado has contributed to the bank's business growth, transformation, and organizational development in her current role as executive director and whole-time director. The board approved her appointment based on a recommendation from the Nomination and Remuneration Committee.

The bank has begun the process of identifying a permanent successor to Nautiyal. The recommendation will be submitted to the RBI in due course. The lender expressed confidence in its leadership team's ability to manage requirements, navigate challenges, and support the bank's future growth during the transition period.

The bank's leadership-development initiatives and succession-planning framework are expected to maintain smooth operational continuity. The board acknowledged the importance of a seamless transition and expressed confidence in the team's ability to drive the bank's growth.

Ujjivan Small Finance Bank's decision to appoint an interim CEO is seen as a strategic move to ensure continuity and stability. The bank's shares will likely be closely watched by investors and analysts as the transition unfolds.

In the coming months, the bank will focus on identifying a permanent successor and ensuring a smooth transition. The leadership team's ability to manage the bank's operations and drive growth will be critical during this period.

The bank's future growth and success will depend on its ability to navigate the challenges and opportunities in the small finance bank sector. With a strong leadership team and a well-planned succession strategy, Ujjivan Small Finance Bank is well-positioned to achieve its goals and objectives.

The development is significant for the banking sector, particularly for small finance banks. The appointment of an interim CEO and the search for a permanent successor will be closely watched by industry experts and analysts. The bank's ability to maintain stability and drive growth during the transition period will be critical to its success.

In conclusion, Sanjeev Nautiyal's early retirement and Carol Furtado's appointment as interim CEO mark a significant development for Ujjivan Small Finance Bank. The bank's ability to navigate the transition period and identify a permanent successor will be critical to its future growth and success.