Unity Small Finance Bank (USFB) has appointed Inderjit Camotra, as its Managing Director & Chief Executive Officer.

The Bank, in a statement, said: “His appointment has been approved by the Reserve Bank of India (RBI) and Unity Bank’s Board.”r Prior to this appointment he was interim CEO of the Bank.

Camotra has over 25 years of experience as a Banker in leadership positions at Standard Chartered Bank, ANZ and Citibank, it added.

Jaspal Bindra, Executive Chairman, Centrum Group said, “ The banking business is highly competitive and dynamic and I am confident that with his leadership and proven track record, the Bank will achieve significant growth.”

USFB has been promoted by Centrum Financial Services (Centrum Group) with Resilient Innovations (BharatPe) as joint investor. The Bank commenced operations in November 2021, with a capital infusion of about ₹1,100 crore, total assets of about ₹2,400 crore and an active customer base of over 2 lakh.

The amalgamation of the scam-hit Punjab and Maharashtra Co-operative Bank with USFB came into force with effect from the date of the notification of the “Scheme of Amalgamation” -- January 25, 2022. All the branches of the PMC Bank started functioning as branches of Unity Small Finance Bank Ltd. with effect from this date.