Nautiyal submitted his request on August 31, seeking retirement with a three-month notice period. The bank’s board approved the request at its meeting on September 1.
Nautiyal has ceased to be the MD & CEO and Key Managerial Personnel of the bank with effect from September 1. He will remain on leave during the notice period and will retire from the bank on November 30, 2026.
Nautiyal had served as the bank’s MD & CEO for over two years.
The board has appointed Carol Furtado, currently an Executive Director and Whole-Time Director at Ujjivan Small Finance Bank, as acting MD & CEO with effect from September 1, subject to approval from the Reserve Bank of India (RBI).
Furtado has more than three decades of banking experience across business, strategy, operations, people and institutional functions. She has been part of Ujjivan’s leadership team and has held her current executive director role at the bank.
The bank said its board will begin the process of identifying Nautiyal’s successor and will submit its recommendation to the RBI in due course.The board also placed on record its appreciation for Nautiyal’s contribution during his tenure. According to the bank, his stint saw progress in areas including the secured loan book, deposits, digital and analytics capabilities, and risk management and internal controls.
First Published: Sept 1, 2026 12:51 PM IST
