Utkarsh Small Finance Bank has announced a key leadership appointment with Mr. Ritesh Kumar joining as Chief Compliance Officer effective December 31, 2025. The appointment, disclosed under Regulation 30, marks a strategic addition to the bank's senior management team as Kumar brings over two and a half decades of comprehensive banking experience.

Appointment Details

The bank has structured the appointment as a full-time employment arrangement, with Kumar set to assume his responsibilities at the end of December 2025. The appointment does not involve any inter-directorial relationships, maintaining the independence of the compliance function within the organization.

Professional Qualifications

Mr. Kumar brings an impressive academic and professional credential portfolio to his new role. His educational foundation includes a Bachelor of Science degree from Bangalore University and an MBA from Patna University. He has further strengthened his banking expertise through the Certified Associate of Indian Institute of Bankers (CAIIB) qualification and a Post Graduate Diploma in Banking & Finance from the National Institute of Bank Management (NIBM), Pune.

His specialized certifications demonstrate deep expertise in risk management and financial services:

• Certification in Risk in Financial Services from Indian Institute of Banking & Finance (IIBF), Mumbai
• Certification in Risk in Financial Services from Chartered Institute for Securities & Investment (CISI), London
• Certificate in Market Risk Capital Charges-Internal Models & Regulatory Approaches from NIBM, Pune
• Certificates in Trade Finance and SME Financing from IIBF

Extensive Banking Experience

Kumar's 25-year banking career spans multiple prestigious institutions and diverse functional areas. He commenced his professional journey with Canara Bank as a Probationary Officer, where he gained foundational experience across branch banking, credit operations, treasury functions, and trade finance activities.

Subsequently, he expanded his expertise in risk management during his tenure with IDBI Bank Limited and Doha Bank QPSC, where he spent approximately 15 years specializing in risk management functions. His role at Doha Bank QPSC included serving as Chief of Internal Vigilance, demonstrating his capability in oversight and compliance functions.

Recent Leadership Experience

Most recently, Kumar served as Deputy Chief Compliance Officer at DCB Bank Limited, where he demonstrated comprehensive oversight capabilities across multiple compliance domains. His responsibilities encompassed the assurance function, compliance advisory services, compliance monitoring systems, and compliance testing procedures. This experience positions him well to lead Utkarsh Small Finance Bank's compliance initiatives and ensure adherence to regulatory requirements.

The appointment reflects Utkarsh Small Finance Bank's commitment to strengthening its compliance framework with experienced leadership as the institution continues to grow in the competitive small finance banking sector.

Utkarsh Small Finance Bank 's Board of Directors has approved significant leadership appointments following its meeting held on December 13, 2025. The Board's decisions, made based on recommendations from the Nomination and Remuneration Committee (NRC), include the permanent appointment of Ms. Suchita Chatterjee as Head-Internal Audit and the re-appointment of Mr. Ajay Kumar Kapur as Independent Director for a second term.

Key Board Appointments

The Board meeting, which commenced at 10:00 a.m. (IST) and concluded at 07:15 p.m. (IST), approved two crucial appointments pursuant to Regulation 30 of SEBI Listing Regulations:

Leadership Profile: Ms. Suchita Chatterjee

Ms. Suchita Chatterjee brings substantial expertise to her permanent role as Head-Internal Audit, forming part of the bank's Senior Management team. Her appointment was approved on the recommendation of the Audit Committee. Her educational qualifications include:

• Master's in Business Administration from Calcutta University
• LLB from Utkal University

She possesses over 20 years of prior work experience in the audit function across various financial institutions, including:

• Ujjivan Small Finance Bank Limited
• IndusInd Bank
• Various microfinance institutions including Bharat Financials

Director Re-appointment Details

Mr. Ajay Kumar Kapur (DIN: 00108420) received Board approval for re-appointment as Independent Director for a second term spanning three consecutive years from March 02, 2026 to March 01, 2029 (both days inclusive). This re-appointment remains subject to shareholder approval.

Professional Background

Mr. Kapur holds a bachelor's degree in engineering (industrial engineering) from the University of Roorkee, now known as Indian Institute of Technology, Roorkee. His extensive professional experience includes associations with:

• Punjab Tractors Limited
• Industrial Development Bank of India
• India SME Technology Services Limited
• SIDBI

Currently, he serves as an advisor to the United Nations Industrial Development Organization, bringing valuable international perspective to the bank's board.

Regulatory Compliance

The Board confirmed that Mr. Ajay Kumar Kapur is not debarred from holding the office of director by any order of SEBI or other authorities. Additionally, he is not disqualified from holding the office of director pursuant to provisions of Section 164 of the Companies Act, 2013. The disclosure has been made available on the bank's website at www.utkarsh.bank.in .

Strategic Implications

The permanent appointment of Ms. Chatterjee as Head-Internal Audit strengthens the bank's risk management and compliance framework, while Mr. Kapur's re-appointment ensures continuity in independent oversight and strategic guidance. These leadership decisions position Utkarsh Small Finance Bank to maintain robust governance standards while pursuing its growth objectives in the competitive small finance banking sector.