Ujjivan Small Finance Bank said HDFC Bank’s Nitin Chugh will join as president by August 2019 and take over as managing director and chief executive officer (MD and CEO)narendra
Ujjivan Small Finance Bank said HDFC Bank’s Nitin Chugh will join as president by August 2019 and take over as managing director and chief executive officer (MD and CEO) from December for a period of three years. The Reserve Bank of India gave its approval for the appointment on 14 May, Ujjivan said in a filing with stock exchanges on Friday.
Chugh will take over from MD and CEO Samit Ghosh, whose tenure ends on 30 Nov, which is the date of his attaining the age of 70 years. Bengaluru-based Ujjivan said that the two executives will work closely to ensure a smooth transition. Ghosh said Chugh, who currently serves as group head of digital banking at HDFC Bank, would bring his experience in retail and digital banking to the firm. “His illustrious track record, combined with exceptional leadership and values, makes him the right choice,” Ghosh added.
Chugh said he was looking forward to working with Ujjivan’s team to achieve “its mission of financial inclusion”. Shares of Ujjivan’s parent Ujjivan Financial Services were trading 2.9% down at Rs 311.6 apiece at the time of publication.
A graduate from the National Institute of Technology, Kurukshetra, Chugh has worked with Standard Chartered Bank and Xerox Corp.
Ujjivan Small Finance Bank, which started operations in February 2017, has over 460 branches, 187 asset centres and 275 banking outlets. It has over 12,000 employees. In November 2018, the World Bank’s International Finance Corporation (IFC) announced plans to invest up to $50 million (around Rs 350 crore then) debt in Ujjivan Small Finance Bank to help expand its outreach to low-income borrowers and strengthen its balance sheet.
In February, VCCircle reported that South- and Southeast Asia-focused private equity firm Creador had made Ujjivan Financial Services Ltd its biggest bet in India after increasing its stake to 9.9% by spending about $28 million (around Rs 200 crore then). In 2017, Creador had picked up a five per cent stake in the company.
Heartiest congratulations to Our alumnus Dheeraj Sharma (BT/CE/2011) has secured AIR 561 in UPSC Civil Services Examination 2018narendra
Our alumnus Dheeraj Sharma (BT/CE/2011) has secured AIR 561 in UPSC Civil Services Examination 2018.
Heartiest congratulations and all the best Sir. We are so proud of you!!
Heartiest Congratulations to alumnus Gauravjeet Singh (BT/ME/2008) for securing AIR 318 in UPSC Civil Services Examination 2018. We wish him all the best for his future endeavours!narendra
Heartiest Congratulations to alumnus Gauravjeet Singh (BT/ME/2008) for securing AIR 318 in UPSC Civil Services Examination 2018. We wish him all the best for his future endeavours!
Congratulations Alumnus Pawan Munjal, Chairman, Hero MotoCorp for being facilitated with Special Achievement Award for his outstanding contributions to Golf in Asia. Indian golfer Shiv Kapur presented this award during Asian Tour’19. Mr. Munjal has been supporting the Hero Indian Open for 14 years, along with the Hero Women’s Indian Open, the Hero Challenge series on the European Tour and the Hero World Challenge on the PGA Tour. He graduated from NIT Kurukshetra with a bachelor’s degree in Mechanical Engineering in 1976.
NIT Kurukshetra Alumni (1966–71 batch) have donated 27 lacs to their Alma Mater. This is the first time that a batch has donated such a large amount of money. The money pledged will be deployed to provide scholarships for deserving students. On behalf of the Institute and the Alumni Association, we express our heartfelt gratitude to the batch of 1966-71 for this support. We are confident that the Institute will get unstinting aid from its alumni in its future endeavors.
Our alumnus Vice Admiral Gurtej Singh Pabby, Indian Navy, was confered with the Distinguished Alumni Awardnarendra
NIT Kurukshetra witnessed the Silver Jubilee Reunion Celebrations of Batch 1993-1997 on 24th and 25th of December.
The meet kick-started with warm hugs and a savoury breakfast at institute guest house followed by registrations. The alumni could be seen smiling in reminiscence, as they walked past the familiar avenues of their alma mater. This was followed by fun gaieties at Apollo canteen and OAT in the evening followed by a gala dinner.
The alumni gathered at the Senate Hall on following morning for a formal celebration. Prof. Pankaj Chandna, President NITKAA welcomed the august gathering and informed of the various initiatives by the association. Dr. Satish Kumar, Hon’ble Director, NITK was the chief guest. He shed light on the changed curriculum, and the multiple discussions which led to the same. An MoU was signed between the institute and Think Global Consulting (TGC) which is a venture of Mr. Tirthankar Goyal, an alum from the ’93 batch. The Director felicitated all alumni and congratulated them for their successful life ventures. A few alumni expressed their ideas for a further strengthening of institute alumni connect and ways for developing a more comprehensive curriculum. The excitement and zeal was clearly evident on the bright nostalgic faces.
After the lunch at the guest house, the alumni parted their ways again, not before making the promises of being in touch and meeting again soon.
In the continuum of Institute’s effort to strengthen the bond between Alumni and its Alma Mater, NIT Kurukshetra Alumni association facilitated the Silver Jubilee graduation celebrations for 1989-1993 batch on December 22-23, 2018 at the institute. More than 110 alumni from India, USA and UK enthusiastically participated in the meet, rejuvenating the old and forming a lot of new memories. The batch of 1989-1993 gave a financial contribution of Rs. 11 lakhs to the Alumni Association for carrying out its various activities in the Institute in due course of time. It has also been decided to establish a memorial in the memory of the 9 students we lost in Patiala tragedy in 1990. On behalf of the Institute and the Alumni Association, we express our heartfelt gratitude to the batch of 1989-93 for this support.