Ujjivan SFB CEO Sanjeev Nautiyal Retires Early, Carol Furtado Takes Interim Charge

Mumbai: Ujjivan Small Finance Bank's CEO Sanjeev Nautiyal has announced he will retire early due to health concerns, leading to the appointment of Executive Director Carol Furtado as interim CEO. Furtado's tenure began on September 1, 2026, pending RBI approval. Nautiyal submitted his retirement request on August 31, giving the bank three months' notice.

The board accepted his request, citing his health issues. Nautiyal will remain on leave until his notice period ends on November 30, after which he will retire from the bank. The bank acknowledged his leadership and contributions over his two-year tenure, noting the progress made under his guidance, including growth in secured loans, a stronger deposit base, improved digital capabilities, and better risk management.

Furtado, with over three decades of banking experience, joins the leadership team that helped establish and develop Ujjivan. She has contributed to business growth, transformation, and organizational development in her current role. The board approved her appointment following a recommendation from the Nomination and Remuneration Committee.

Ujjivan Small Finance Bank will now begin searching for a permanent successor to Nautiyal, with its recommendation to be submitted to the RBI. The lender stated that its leadership-development initiatives and succession-planning framework would ensure smooth operational continuity during the transition. The board expressed confidence in the leadership team's ability to manage the challenges and support the bank's future growth.