Ujjivan Small Finance Bank Limited Announcement: Appointment of new Part-Time Chairman and Additional Directors on the Board

March 13, 2021, Bengaluru: Ujjivan Small Finance Bank Limited’s board has passed a resolution for the appointment of Mr. Ittira Davis as the new Part-Time Chairman of the Bank, subject to the approval of Reserve Bank of India (RBI). The Bank has also appointed Mr. Rajesh Kumar Jogi, Mr. Harish Devarajan and Dr. Umesh Bellur as Additional Directors. 

Mr. Ittira Davis will serve as the Additional Director (Non-Executive, Non-Independent) and Part-time Chairman of the Bank subject to approval of RBI. Previously, he had held the position of MD & CEO in the Bank’s holding company, Ujjivan Financial Services Limited. Mr. Davis is a veteran banker with over 40 years of banking experience. He has been associated with Ujjivan since 2015, wherein he was instrumental in the formation and transition of the Bank.

Mr. Rajesh Kumar Jogi has been appointed as an Additional Director (Non-Executive, NonIndependent) of the Bank. He is a seasoned risk management professional. Mr. Jogi has over 27 years of experience in banking, which includes a 10 years stint with NatWest Group India (erstwhile Royal Bank of Scotland) and 17 years with Citibank N.A.

Mr. Harish Devarajan has been appointed as an Additional Director (Independent) of the Bank. Mr.Devarajan has more than 35 years of experience in the corporate and consulting sectors and has been associated with TVS Sundram Fasteners Ltd and Hindustan Unilever Ltd. He was also on the Board of Bank of India.

Dr. Umesh Bellur has been appointed as an Additional Director (Independent) on the Board. Dr. Bellur is a professor in the Department of Computer Science and Engineering at IIT Bombay and also the Chairman of the said Department and has been a visiting researcher at Informatica and Nutanix Inc. in California.

The Board of the Bank has always consisted of Directors with a diverse mix of experience in various sectors. The Bank has specifically focused on ensuring strong corporate governance and this has been evident from the recent proactive induction of the new directors, who will further enhance the quality of the management with their extensive industry experience.

The other Directors on the Board of the Bank are Mr. Nitin Chugh (MD & CEO), Independent Directors Mr. Mahadev Lakshminarayanan, Mr. Nandlal Sarda, Mr. Prabal Kumar Sen, Mr. Umang Bedi and Mrs. Rajni Mishra and Non-Executive & Non-Independent Directors, Ms. Mona Kachhwaha and Ms. Chitra K Alai (Nominee Director).

About Ujjivan Small Finance Bank Limited

Ujjivan Small Finance Bank Limited is a subsidiary of Ujjivan Financial Services Ltd. The Bank commenced operations as a Small Finance Bank with effect from February 1, 2017 post transfer of business undertaking by Ujjivan Financial Services Ltd. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India. It is also included in the Second Schedule to the Reserve Bank of India Act, 1934.