World · India Bureau
Ujjivan Small Finance Bank CEO steps down citing health concerns
Sanjeev Nautiyal has sought early retirement from his position as Chief Executive Officer of Ujjivan Small Finance Bank on medical grounds. Executive Director Carol Furtado will assume interim leadership of the institution.
LSN India ·
Ujjivan Small Finance Bank announced that Sanjeev Nautiyal, its Chief Executive Officer, has requested early retirement citing health-related reasons. The decision marks a significant transition at the helm of the Bengaluru-based lender, which serves underserved segments of the Indian financial market.
Carol Furtado, currently serving as Executive Director of the bank, will step into the interim chief executive role effective immediately. Furtado brings considerable experience in banking operations and has been closely involved in the institution's strategic initiatives.
The bank did not specify a timeline for appointing a permanent successor to the CEO position. Nautiyal's departure comes as the small finance banking sector continues to navigate evolving regulatory requirements and competitive pressures in India's fintech-driven landscape.
Ujjivan SFB, which received its banking license in 2015, has established itself as a significant player in microfinance and lending to micro, small and medium enterprises across India. The leadership transition is expected to be managed smoothly given the interim arrangement in place.