Utkarsh Small Finance Bank appointed Manmohan Shetty as Chief Financial Officer and Key Managerial Personnel effective September 19, 2026. The Bank’s Board of Directors approved the appointment following recommendations from the Audit Committee and the Nomination and Remuneration Committee.

The decision was taken during a Board meeting held on Saturday, September 19, 2026. The meeting commenced at 10:00 am and concluded at 9:10 pm. The disclosure was made pursuant to Regulations 30 and 51 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

Mr. Shetty joins the Bank on a full-time employment basis. His appointment marks a key leadership addition to the Bank’s senior management team. The Board confirmed that there are no relationships between directors inter-se regarding this appointment.

Professional Profile

Mr. Shetty brings over two decades of experience across banking, non-banking financial companies (NBFCs), and financial services. He is a Chartered Accountant and holds a degree in Commerce from Mumbai University.

His career includes leadership roles at Viksit Capital, Barclays Bank, and Lehman Brothers. His expertise spans controllership, budgeting, planning and analysis, treasury, compliances, and financial management. This background aligns with the Bank’s requirements for robust financial oversight and strategic planning.

The disclosure is available on the Bank’s website at www.utkarsh.bank.in . Muthiah Ganapathy, Company Secretary and Compliance Officer, signed the communication.

Utkarsh Small Finance Bank has approved the issuance of Non-Convertible Debentures (NCDs) worth up to ₹300 crore through a private placement. The Capital Structuring & Fund Raise Committee (CSFRC) of the Board sanctioned the move on September 11, 2026.

NCD issuance details

The bank plans to raise funds via Rated, Listed, Unsecured, Subordinated, Redeemable, Lower Tier II bonds. The issuance comprises a base issue of ₹200 crore and an oversubscription option (green shoe) of up to ₹100 crore, bringing the total aggregate value to ₹300 crore. Each debenture will have a face value of ₹1,00,000.

The NCDs are unsecured and carry no charge over the bank's assets. Interest will be paid quarterly at a rate of up to 11.75% per annum. The securities are proposed to be listed on the Wholesale Debt Market segment of BSE Limited.

This approval falls within the borrowing limits previously approved by the Board of Directors under Section 180(1)(c) of the Companies Act, 2013, during its meeting on June 20, 2026. The initial Board resolution had permitted the issuance of up to ₹500 crore in Tier II bonds during FY27. This current tranche represents a portion of that broader mandate, subject to receipt of in-principle approval from BSE Limited and other necessary regulatory clearances.

The bank intends to utilize the electronic book mechanism on the Electronic Book Provider platform for the issuance, in compliance with SEBI NCS Master Circular guidelines.