RBI approves re-appointment of Camotra as Unity SFB chief for 2 years

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The Reserve Bank of India (RBI) has approved the re-appointment of Inderjit Camotra as MD and CEO of Unity Small Finance Bank for two years.

Under his leadership, the bank has built a deposit base of over ₹8,000 crore, a loan book of over ₹8,500 crore and a network of about 400 banking outlets and offices across 21 States and UTs in India, per a Unity SFB statement.

Prior to being appointed as head of Unity SFB, Camotra was Executive Director with Centrum Financial Services Ltd/CFSL (Promoter Entity of Unity Bank).

RBI had granted in-principle approval to CFSL to set up an SFB as a part of the revival/reconstruction of the erstwhile Punjab and Maharashtra Co-operative Bank in June 2021. The licence to set up the SFB was issued in October 2021. The bank commenced operations in November 2021. BharatPe acquired a 49 per cent stake in Unity SFB while CFSL holds 51 per cent .