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Nitin Chugh appointed MD of Ujjivan Small Finance Bank

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KOLKATA: Ujjivan Small Finance Bank has roped in HDFC Bank’s digital banking head Nitin Chugh as its next managing director and chief executive officer. Chugh will join Ujjivan in August and will work closely with current MD Samit Ghosh for “a smooth transition” before taking over the baton from him on December 1. Ghosh is slated to retire on November 30.

“Nitin’s inclusion will help us chase our ambition to become a mass market bank with digital push,” Ghosh told ET.

“We aim to scale up from 4 million customers to 40 million in seven years’ time and this cannot be done without technology adaption. He will bring in a lot of value to the table,” Ghosh, who will be 70 on November 30, said.

The RBI has approved the appointment which is for a period of three years.

Chugh, a career banker with over 25 years of experience, worked in HDFC Bank since April 2001, and has experience in retail banking sales and distribution, virtual relationship management and digital / direct marketing.

Source: Economic Times