Ujjivan Small Finance Bank names Carol Furtado as Executive Director

Ujjivan Small Finance Bank has named Carol Furtado as Executive Director, effective May 1, 2024. The decision was approved by the Reserve Bank of India (RBI), marking a strategic move for the bank as it seeks to enhance its operational prowess and strategic direction.

Furtado’s tenure with Ujjivan SFB dates back to its inception, where she has held pivotal roles, including Chief Human Resource Officer, Head of Operations and Service Quality, and Chief Business Officer (CBO). Her comprehensive experience spans over 29 years in the banking sector, specifically in Retail Banking and NBFC domains.

Recognized for her expertise in business leadership, banking operations, credit management, human resources, and service quality, Furtado has been instrumental in Ujjivan’s transformative journey from an NBFC-MFI to a Small Finance Bank. Her contributions have been pivotal in securing Ujjivan’s status as a certified great place to work.

Prior to her tenure at Ujjivan, Furtado has held esteemed positions at the ANZ group, Bank Muscat, and Centurion Bank Ltd. Her outstanding professional commitment was acknowledged in 2009 when she was honored with the Financial Women’s Association award by Women’s World Banking.

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Furtado holds a post-graduate degree from Mount Carmel Institute of Management, Bangalore, and has undergone strategic leadership programs at esteemed institutions like the Indian Institute of Management, Ahmedabad, and Harvard Business School, Boston.

Her appointment underscores Ujjivan SFB‘s commitment to fostering top-tier talent and driving sustainable growth in the dynamic landscape of Indian finance. The bank anticipates seeking shareholders’ approval at its upcoming 8th Annual General Meeting (AGM), further solidifying its strategic direction under her leadership.