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The board of Ujjivan Small Finance Bank has appointed Carol Furtado as Officer on Special Duty.
“She will be handling the day-to-day operations of the bank from August 26, and will be serving the bank as OSD until outgoing Managing Director and CEO Nitin Chugh is in office. Post-September 30, 2021, she will take charge as the Interim CEO subject to RBI approval,” Ujjivan SFB said in a statement on Wednesday. The board of Ujjivan SFB, in parallel, will evaluate suitable candidates for the MD and CEO position, and submit two names to RBI for approval, it further said.
‘Portfolio quality’
“We do not foresee any near-term major issues in the portfolio quality of the bank. With the provision coverage ratio of 75 per cent, the highest in the industry, we are very well positioned. The bank is undertaking an independent portfolio quality and process audit. We look towards streamlining the provisioning policy,” said Samit Ghosh, Common Director on Ujjivan SFB and Ujjivan Financial Services.
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