RBI approves Ittira Davis as the MD and CEO of Ujjivan Bank

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The Reserve Bank of India has approved  the appointment of Ittira Davis as the new Managing Director (MD) and Chief Executive Officer (CEO) of the Ujjivan Small Finance Bank  for one year.

The Ujjivan  bank  board had nominated Ittira Davis for a three years term. However, the RBI approved only a one year term for him. 

Under section 35 B of the Banking Regulation Act 1949, Private banks , Foreign banks, Local Area banks, Payment Banks, Small Finance Banks have to seek the prior  approval of RBI before appointing MD, CEO or part time Chairperson in the bank.

Headquarters of Ujjivan Small Finance Bank : Bengaluru