Nitin Chugh will take over the post from December 1, 2019. The bank has received the approval of its application for Chugh's appointment, from the Reserve Bank of India (RBI) on May 14, 2019. Nitin Chugh will join the bank by August 2019 as President and will work closely with Samit Ghosh, existing MD and CEO to ensure a smooth transition.

The RBI has approved the appointment which is for a period of three years. The appointment is subject to the approval of shareholders at the ensuing Annual General Meeting of the Bank. Chugh is a career banker with over an experience of 25 years. He worked in HDFC Bank since April 2001 and has experience in retail banking sales and distribution, virtual relationship management and digital/direct marketing.

The Bengaluru-based small finance bank has already applied to the Reserve Bank of India for approval to appoint Mr. Chugh as the managing director and chief executive officer. His illustrious and path breaking track record associated with exceptional leadership and values make him the right choice to take Ujjivan Small Finance Bank to its destined journey of becoming a leading mass market bank. The appointment of Nitin Chugh is subjected to the approval of the shareholders at the final Annual General Meeting of the Bank associates.

Prior to being in association with HDFC Bank, he worked with Standard Chartered Bank where he majorly worked in vehicle finance. However, he started his career with HCL, HP, and Xerox Corporation on different managerial and sales roles.