The Reserve Bank has given its go-ahead to Ujjivan Small Finance Bank (SFB) to form a special committee of directors to oversee operations in the absence of an MD and CEO. The Reserve Bank of India (RBI) in a letter dated September 15, 2021, has approved the constitution of 'Special Committee of Directors' with three independent directors as its members, Ujjivan SFB said in a regulatory filing on Thursday. The committee will «oversee the operations and administration of the bank in the absence of the Managing Director and CEO with effect from September 16, 2021,» it said. Last month, the Bengaluru-based company had appointed old hand Carol Furtado to take charge as officer on special duty (OSD) till September 30, 2021, following the resignation of Nitin Chugh as MD and CEO. She will take charge as the interim CEO from October. «The board of Ujjivan SFB, in parallel, will evaluate suitable candidates for the MD & CEO position, and submit two names to RBI for approval,» the lender . Read more