Chugh will join Ujjivan in August and will work closely with current MD & CEO Samit Ghosh for “a smooth transition” before taking over the baton from him on December 1. Ghosh is slated to retire on November 30.
“Nitin’s inclusion will help us chase our ambition to become a mass market bank with digital push,” Ghosh told ET.
“We aim to scale up from 4 million customers to 40 million in seven years time and this cannot be done without technology adaption. He will bring in a lot of value to the table,” Ghosh, who will be 70 on November 30.
Reserve Bank of India has approved the appointment which is for a period of three years, Ujjivan said in a regulatory filing to stock exchanges.
Chugh, a career banker with over 25 years of experience behind his belt, worked in HDFC Bank since April 2001. He has experience in retail banking sales and distribution (credit cards, retail assets, branch and phone banking), virtual relationship management and digital / direct marketing.
Chugh holds a Bachelor of Technology degree and has a Post-Graduate Diploma in Management.