SBI Appoints Ex-Ujjivan Small Finance Bank CEO Nitin Chugh As DMD

State Bank of India (SBI) has appointed former Ujjivan Small Finance Bank CEO Nitin Chugh as Deputy Managing Director (DMD) to drive digital banking operations. He has been appointed for an initial term of three years, sources said.

Prior to this appointment, Chugh was CEO and managing director of Ujjivan Small Finance Bank. He joined there from HDFC Bank where he served as the Group Head of Digital Banking. Chugh, who joined Ujjivan Small Finance Bank in 2019, quit the bank in September last year citing personal reasons.

SBI had invited applications for the position in December. According to public notice by SBI, the position would be responsible for envisioning, developing, and executing of bank’s digital banking strategy and business plan for imparting digital knowledge/skills in a constructive, empowering, and collaborative way.

Earlier, the bank had hired Chief Finance Officer (CFO) from the private sector. An e-mail sent to SBI in this regard did not elicit any immediate response.

(PTI)