Archive · 2 Sep 2026
Ujjivan Shares Fall as RBI Approves Interim CEO Furtado
Ujjivan Small Finance Bank has appointed Carol Furtado as its temporary chief executive.
The Reserve Bank of India approved her appointment for three months.
She took over after Sanjeev Nautiyal decided to retire early for health reasons.
Nautiyal will formally leave the bank on November 30.
The bank says it will search for a permanent leader.
Ujjivan recently reported strong profits and growth in deposits and loans.
Even so, its shares fell almost 5% when the market opened on September 2.
The bank’s shares have still gained over the past year.
The Reserve Bank of India approved Carol Furtado as Ujjivan Small Finance Bank’s interim CEO for three months from September 1, 2026.
Furtado replaced Sanjeev Nautiyal, who sought early retirement citing health reasons and will formally leave on November 30.
Ujjivan reported a net profit of Rs 317 crore for the quarter ended June 2026.
Deposits rose 24.6% year-on-year to Rs 48,129 crore, while the gross loan book increased 28.9% to Rs 42,903 crore.
The bank’s shares fell nearly 5% at the September 2 market opening, after declining 12.62% over one month but gaining 44.12% over one year.
- Who
- Ujjivan Small Finance Bank, Carol Furtado, Sanjeev Nautiyal, and the Reserve Bank of India.
- What
- The Reserve Bank of India approved Carol Furtado as interim CEO after Sanjeev Nautiyal’s early-retirement decision.
- When
- Approval came on September 1, 2026; Nautiyal will formally retire on November 30.
- Where
- At Ujjivan Small Finance Bank; the share-price movement was reported at market opening.
- Why
- Nautiyal sought early retirement citing health reasons, while the bank begins the process of selecting a permanent successor.
Bank’s Continuity Case
Market Reaction
Leadership transition
Bank’s Continuity Case
Ujjivan Small Finance Bank said its succession planning and leadership-development processes would help manage the transition without disruption.
Market Reaction
The bank’s shares fell nearly 5% at the September 2 market opening following the leadership change.
Recent financial performance
Bank’s Continuity Case
The bank reported a Rs 317 crore quarterly net profit, record pre-provision operating profit of Rs 548 crore, and strong deposit and loan-book growth.
Market Reaction
Despite those reported results, the shares were down 12.62% over the previous month, although they remained up 44.12% over the previous year.
- Interim CEO
- Carol Furtado
- Regulatory approval
- Reserve Bank of India approval on September 1, 2026
- Interim tenure
- Three months or until a permanent Managing Director and CEO is appointed, whichever comes earlier
- Outgoing CEO
- Sanjeev Nautiyal, who will formally retire on November 30
- Q1 FY27 net profit
- Rs 317 crore
- Deposits
- Rs 48,129 crore, up 24.6% year-on-year
- Gross loan book
- Rs 42,903 crore, up 28.9% year-on-year
- Share performance
- Down nearly 5% at September 2 opening; down 12.62% over one month and up 44.12% over one year