RBI okays panel running Ujjivan SFB

New Delhi: The Reserve Bank of India (RBI) has given Ujjivan Small Finance Bank the go-ahead to form a special committee of directors to oversee the bank’s operations in the absence of an MD and CEO.

In a regulatory filing, the Bengaluru based lender said the RBI in a Sept. 15 letter has approved the constitution of 'Special Committee of Directors' with three independent directors as its members

Last month, Ujjivan SFB had appointed Carol Furtado to take charge as officer on special duty (OSD) till Sept. 30, following the resignation of Nitin Chugh as MD and CEO. Furtado will take charge as the interim CEO from October.

Ujjivan SFB its board, in parallel, will evaluate suitable candidates for the MD & CEO position, and submit two names to the RBI.