The Reserve Bank of India (RBI) has reaffirmed its confidence in the leadership of Inderjit Camotra and Govind Singh by re-approving their appointments as Managing Directors (MDs) and Chief Executive Officers (CEOs) of Unity Small Finance Bank (Unity SFB) and Utkarsh Small Finance Bank (Utkarsh SFB), respectively. This move underscores their effective stewardship in expanding their banks’ operations and reach.
Inderjit Camotra’s Re-appointment at Unity SFB
Inderjit Camotra will continue to serve as the MD and CEO of Unity SFB for a further two years. Under his leadership, the bank has achieved significant milestones, including:
- Building a deposit base of over ₹8,000 crore.
- Growing a loan book exceeding ₹8,500 crore.
- Expanding its network to about 400 banking outlets and offices across 21 States and Union Territories in India.
Before his tenure at Unity SFB, Camotra was the Executive Director at Centrum Financial Services Ltd (CFSL). Notably, the RBI granted in-principle approval for CFSL to establish Unity SFB in June 2021, with the official license issued in October 2021, and operations commencing in November 2021. Currently, BharatPe holds a 49% stake in Unity SFB, while CFSL holds 51%.
Govind Singh’s Re-appointment at Utkarsh SFB
Govind Singh has been re-appointed as the MD and CEO of Utkarsh SFB, with his new term effective from September 21, 2024, for three years. His current term will continue until September 20, 2024, with board approval granted on January 27, 2024.
Singh’s leadership has been pivotal in steering Utkarsh SFB towards substantial growth and operational success. His re-appointment is seen as a testament to his strategic vision and the bank’s robust performance under his guidance.
The RBI’s decision to re-appoint these seasoned leaders is expected to further strengthen the operational capabilities and growth trajectories of both Unity SFB and Utkarsh SFB, reinforcing their roles in the Indian financial landscape.
