Carol Furtado appointed as Interim CEO of Ujjivan Small Finance Bank

Ujjivan Small Finance Bank Limited has announced that the Reserve Bank of India (RBI) has approved the appointment of Carol Furtado, Executive Director of the Bank, as Interim Chief Executive Officer (CEO).

Furtado will assume the role with effect from September 1, 2026, for a period of three months or until a regular Managing Director and CEO is appointed, whichever is earlier. Her appointment follows the early retirement of Sanjeev Nautiyal as MD and CEO on health grounds. The bank has initiated the process of identifying his successor and will submit its recommendation to the RBI.

Furtado is a seasoned banker with nearly three decades of experience across retail banking and NBFCs. She has been associated with Ujjivan since its earlier journey as an NBFC-MFI and has played a key role in its transformation into a small finance bank. In her leadership roles, she has been involved in business growth, operations, people management, transformation and organisational development.

The RBI granted its approval through a letter dated September 1, 2026. Furtado will serve as Interim CEO for a period of three months from September 1, 2026, or until the appointment of a regular Managing Director & Chief Executive Officer (MD & CEO), whichever is earlier.

Furtado’s appointment comes as the Bank moves towards appointing a regular MD & CEO. The appointment of the interim CEO has received the necessary regulatory approval from the central bank.