RBI approves appointment of Sanjeev Nautiyal as MD & CEO of Ujjivan Small Finance Bank

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Reserve Bank of India approved the appointment of Sanjeev Nautiyal
as the Managing Director and Chief Executive Officer of Ujjivan Small Finance Bank from July 1. Nautiyal, who retired as the former Deputy MD of the State Bank of India (SBI), has been designated for a period of three years.

The small lender said that Nautiyal will join the bank much prior to taking charge as the MD and CEO in the position of the interim president of the bank. “The appointment of Mr. Nautiyal as the MD and CEO will be subject to the approval of shareholders at the ensuing Annual General Meeting of the bank,” the lender said.

Following his appointment, Sanjeev Nautiyal said, “It is indeed an honour to join Ujjivan, whose mission, to be a leading mass market bank, is embedded in its philosophy of building better lives for everyone. The transformation of Ujjivan from an NBFC-MFI to a very successful bank makes it ready to chart new frontiers of financial and digital inclusion. I look forward to working with Team Ujjivan and all the stakeholders.”

Currently, he is the independent director of the Life Insurance Corporation of India (LIC), in addition to acting as an advisor to various organisations. He is a banker with strategic domain expertise in retail, small and medium enterprises (SME), financial inclusion, operations, HR, international banking, and treasury, with a career lasting over three decades.

Upon the appointment of Nautiyal, Chairman of Ujjivan SFB, Banavar Anantharamaiah Prabhakar said, “I am delighted that RBI has approved the appointment of Mr. Nautiyal. I welcome him to the Ujjivan family. He is a strategic retail banker with all-round experience in both the domestic and international markets. His expertise across the banking spectrum in creating and nurturing strong institutions with customers at the forefront makes him the natural choice to lead Ujjivan into the future.”

Nautiyal will work to replace the bank’s MD and CEO, Ittira Davis, who is being relieved a few months prior to his original term expiration. Davis will work with Nautiyal to ensure a smooth transition.

Ujjivan SFB began operations in February 2017 and currently serves over 85 lakh customers through its 752 branches and 22,000+ employees, spread across 26 states and union territories in India. The gross loan book stands at ₹29,779 crore with a deposit base of ₹31,650 crore as of March 31, 2024, the company said in a release.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow