RBI Re-approves MDs and CEOs for Small Finance Banks

The Reserve Bank of India (RBI) has re-approved the appointments of Inderjit Camotra and Govind Singh as MDs and CEOs of Unity Small Finance Bank and Utkarsh Small Finance Bank, respectively, reflecting their effective leadership in expanding their banks’ operations and reach.

Re-appointment of Inderjit Camotra

• Position: Managing Director (MD) and Chief Executive Officer (CEO) of Unity Small Finance Bank (Unity SFB)
• Term: Two years
• Achievements Under Leadership:
  • Deposit base: Over ₹8,000 crore
  • Loan book: Over ₹8,500 crore
  • Network: About 400 banking outlets and offices across 21 States and UTs in India
• Previous Role: Executive Director at Centrum Financial Services Ltd/CFSL
• Background:
  • RBI granted in-principle approval for CFSL to set up Unity SFB in June 2021.
  • Licence issued in October 2021; operations commenced in November 2021.
  • BharatPe holds 49% stake, CFSL holds 51%.

Re-appointment of Govind Singh

• Position: Managing Director (MD) and Chief Executive Officer (CEO) of Utkarsh Small Finance Bank (Utkarsh SFB)
• Effective Date: September 21, 2024
• Term: Three years
• Current Term: Until September 20, 2024
• Board Approval: Granted on January 27, 2024