RBI greenlights Sanjeev Nautiyal as CEO of Ujjivan Small Finance Bank
The Reserve Bank of India (RBI) has approved the appointment of Sanjeev Nautiyal as the managing director (MD) and chief executive officer (CEO) of Ujjivan Small Finance Bank, as per an official exchange filing on May 4, Saturday. Nautiyal, who brings over three decades of extensive banking experience, is scheduled to assume his new role starting July 1, 2024, for a tenure of three years.
Before his appointment at Ujjivan Small Finance Bank, Nautiyal held prominent positions in the banking sector, serving as Deputy Managing Director for Financial Inclusion & Micro Markets at SBI and as MD & CEO of SBI Life Insurance. He currently serves as an Independent Director at Life Insurance Corporation and provides advisory services to various organizations.
Reserve Bank of India (RBI) “greenlights” refers to its approval or authorization for various entities or activities in the Indian financial sector. Here are some recent examples:
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Granting licenses to companies to operate as payment aggregators. This allows them to process online payments for merchants. Fintech giant Groww recently received such approval for its UPI platform [RBI Greenlights Groww as Payment Aggregator].
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Giving the go-ahead for acquiring stakes in banks. The RBI has guidelines for this to ensure the ‘fit and proper’ status of the investors [Green light must before stake buy in banks: RBI].
Nautiyal holds a Bachelor’s degree in Arts and a Master’s degree in Business Administration. Additionally, he is a Certified Associate of the Indian Institute of Bankers.
His appointment comes as the current MD & CEO, Ittira Davis, prepares for an early release from his term, with Nautiyal expected to assume an interim position as President ahead of his official start date. Davis will assist in facilitating a smooth transition process.