Archive · 1 Sep 2026
Ujjivan SFB CEO Sanjeev Nautiyal Retires Early on Health Grounds
Sanjeev Nautiyal is leaving his leadership job at Ujjivan Small Finance Bank earlier than planned because of health problems.
The bank accepted his request for early retirement.
He stopped being the bank’s CEO and managing director on September 1, 2026.
He will stay on leave until November 30, 2026, when his notice period ends.
Carol Furtado, an experienced bank executive, will temporarily lead the bank.
Her appointment still needs approval from the Reserve Bank of India.
The bank will search for a permanent new leader.
Ujjivan said it expects its business plans to continue during the change.
Ujjivan Small Finance Bank approved CEO Sanjeev Nautiyal’s early retirement request because of health issues.
Nautiyal ceased to be managing director, CEO and key managerial personnel on September 1, 2026.
He will remain on leave until his notice period ends on November 30, 2026.
Executive Director Carol Furtado was appointed acting MD and CEO, subject to Reserve Bank of India approval.
The bank will seek a permanent successor while saying it remains on track to meet its FY27 guidance.
- Who
- Sanjeev Nautiyal, Ujjivan Small Finance Bank’s outgoing MD and CEO; Carol Furtado, its appointed acting MD and CEO.
- What
- Nautiyal is retiring early on health grounds, while Furtado is taking interim leadership.
- When
- Nautiyal’s early-retirement request was submitted on August 31, 2026; the leadership change took effect September 1, 2026, and his notice period ends November 30, 2026.
- Where
- At Ujjivan Small Finance Bank; the announcement was made through an exchange filing.
- Why
- Nautiyal cited health issues. The bank is beginning a search for his permanent successor.
- Outgoing CEO
- Sanjeev Nautiyal
- Reason for retirement
- Health issues
- Effective leadership change
- September 1, 2026
- Notice period ends
- November 30, 2026
- Acting MD and CEO
- Carol Furtado, subject to Reserve Bank of India approval
- Share-price reaction
- Ujjivan Small Finance Bank closed 5.4% lower at Rs 65.37 on the NSE
- Succession timeline
- The bank said it would recommend a permanent successor to the Reserve Bank of India within the next three to four months
