The Reserve Bank of India (RBI) has approved the appointment of Sanjeev Nautiyal as the managing director and chief executive officer of Ujjivan Small Finance Bank.

Nautiyal, who has over three decades of extensive banking experience, will serve at Ujjivan for a period of three years, effective 1 July.                                                                                                             

Ittira Davis, the current MD & CEO, will assist Nautiyal in facilitating a smooth transition process.

In the interim, Nautiyal will hold the position of President, the bank said in an exchange filing.

"The appointment of Mr. Nautiyal as the MD & CEO will be subject to the approval of shareholders at the ensuing annual general meeting of the bank," it added.

Nautiyal earlier served as deputy MD for financial inclusion & micro markets at the State Bank of India (SBI) and as MD & CEO of SBI Life Insurance. 

He currently serves as an independent director at Life Insurance Corporation (LIC) and provides advisory services to various organisations.

"It is indeed an honour to join Ujjivan, whose mission, to be a leading mass market bank, is embedded in its philosophy of building better lives for everyone. The transformation of Ujjivan from an NBFC-MFI to a very successful bank, makes it ready to chart new frontiers of financial and digital inclusion. I look forward to working with Team Ujjivan and all the stakeholders," said Nautiyal.

Banavar Anantharamaiah Prabhakar, chairman of Ujjivan SFB, said Nautiyal is a strategic retail banker with extensive experience in both domestic and international markets.