Ujjivan Small Finance Bank Managing Director and Chief Executive Officer Sanjeev Nautiyal has resigned effective September 1, 2026, citing health reasons. The Board approved his early retirement request submitted on August 31, 2026.

Executive Director Carol Furtado assumes the role of acting MD & CEO immediately, subject to Reserve Bank of India approval. Nautiyal will remain on leave until November 30, 2026, serving out his three-month notice period before fully retiring from the bank.

Leadership Transition

The Board cited Nautiyal’s significant contributions during his tenure of over two years. Key achievements highlighted include growth in the secured loan book, expansion of the deposit franchise, and enhancements to digital capabilities and risk management frameworks.

Furtado, a seasoned banker with more than three decades of experience, joins the leadership team that built Ujjivan Small Finance Bank. Her background spans business strategy, operations, and institutional functions. The Board noted her role in driving business growth and organizational development in her existing capacity as Executive Director.

Succession Planning

The Board confirmed that established leadership development initiatives ensure operational continuity during this transition. It plans to identify a permanent successor for Nautiyal and submit recommendations to the RBI in due course.

This intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting concluded at 11:44 am on September 1, 2026.

Ujjivan Small Finance Bank has appointed Vikas Agrawal as its Business Head - MSME, effective September 1, 2026. The appointment brings a seasoned banking leader with over 25 years of experience to head the bank's micro, small and medium enterprise vertical.

Leadership appointment details

Agrawal is a Chartered Accountant who began his career at Bank of Rajasthan and UTI Bank. He subsequently spent over two decades at ICICI Bank in diverse leadership roles. During his tenure at ICICI Bank, he led the national MSME Product portfolio, introducing new product lines and simplified credit processes designed to enable faster decision-making. He also led the national Gold Loan Product, introducing a technology-enabled workflow in 2015 that continues to be used by over 20,000 users across ICICI Bank branches.

The appointment was disclosed to stock exchanges pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated July 11, 2023, last updated on January 30, 2026.

Agrawal's background includes extensive experience across MSME, business banking, retail banking, credit, product and distribution. His track record includes building high-performing teams and driving product innovation.