Utkarsh Small Finance Bank has formally notified stock exchanges about the resignation of its Chief Human Resource Officer, Mr. Hitain Sharma, effective February 27, 2026, after the close of business hours. The bank submitted the regulatory disclosure under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Resignation Details

Sharma submitted his resignation letter on December 1, 2025, citing personal reasons and his desire to pursue other career opportunities. The resignation concludes his tenure of over 6 years with the bank, during which he served as the Chief Human Resources Officer.

Regulatory Compliance

The bank has fulfilled its disclosure obligations by notifying both BSE Limited (Scrip Codes: 543942, 958095, 959644, 968226, 975790) and the National Stock Exchange of India Limited (Symbol: UTKARSHBNK). The formal communication was signed by Company Secretary & Compliance Officer Muthiah Ganapathy and includes detailed annexures as per SEBI requirements.

Professional Acknowledgment

In his resignation letter addressed to the MD & CEO, Sharma expressed sincere gratitude for the support and guidance provided during his tenure. He described his role as Chief Human Resources Officer as "one of the most enriching career stints" in his professional journey, highlighting the positive experience gained while serving the organization.

Corporate Communication

The complete disclosure documentation, including annexures and the resignation letter, has been made available on the bank's official website at www.utkarsh.bank.in . The bank's registered and corporate office is located at Utkarsh Tower, NH-31 (Airport Road) Sehmalpur, Kazi Sarai, Harhua, Varanasi, Uttar Pradesh.

Utkarsh Small Finance Bank Limited has received a significant regulatory approval for its proposed amalgamation scheme with Utkarsh CoreInvest Limited. The bank announced on February 13, 2026, that it has received the National Company Law Tribunal (NCLT) order dated February 11, 2026, which schedules crucial meetings for stakeholder approval of the merger.

NCLT Order Details

The NCLT Allahabad Bench has directed the bank to conduct two separate meetings on March 28, 2026, as part of the amalgamation approval process. Both meetings will be held through video conferencing, reflecting the modern approach to corporate governance proceedings.

Background of Amalgamation Scheme

The amalgamation process involves Utkarsh Small Finance Bank Limited as the transferee company and Utkarsh CoreInvest Limited as the transferor company. The joint application was initially filed with the NCLT on December 26, 2025, under sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

The scheme requires approval from both equity shareholders and unsecured creditors (excluding non-convertible debenture holders) before it can proceed to the final stages of implementation.

Regulatory Compliance and Transparency

The bank has ensured full compliance with regulatory requirements by making the NCLT order publicly accessible through the tribunal's official website. The order has been uploaded on the NCLT e-filing portal, demonstrating the bank's commitment to transparency in the amalgamation process.

Utkarsh Small Finance Bank has also confirmed that all relevant disclosures will be made available on its official website at www.utkarsh.bank.in , ensuring stakeholders have easy access to important information regarding the merger proceedings.

Next Steps

The bank is currently awaiting the certified copy of the NCLT order. The upcoming meetings on March 28, 2026, will be crucial for determining stakeholder sentiment regarding the proposed amalgamation scheme. The approval from both equity shareholders and unsecured creditors will be essential for the successful completion of the merger process.