CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The Reserve Bank of India (RBI) has re-approved Inderjit Camotra and Govind Singh's nominations as MDs and CEOs of Unity Small Finance Bank and Utkarsh Small Finance Bank, respectively, citing their successful leadership in increasing their banks' operations and reach.
Reappointment Of Inderjit Camotra
Position- Managing Director (MD) and CEO of Unity Small Finance Bank (Unity SFB).
Term- Two Years
Achievements under Leadership-
Deposit base- above Rupees 8,000 crore.
Loan book- More than Rupees 8,500 crore
Network- Around 400 banking branches and offices across 21 states and union territories in India.
- Previous Position- Executive Director at Centrum Financial Services Ltd/CFSL.
Background
The RBI gave CFSL in-principle approval to establish Unity SFB in June 2021.
Licence was given in October 2021, and operations began in November 2021.
BharatPe has 49%, while CFSL owns 51%.
Govind Singh Is Re-Appointed
Position- Managing Director (MD) and CEO of Utkarsh Small Finance Bank.
Effective date- September 21, 2024.
Term- 3 years
Current Term- till September 20, 2024.
Board approval- granted on January 27, 2024.
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