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
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