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

The Reserve Financial institution of India (RBI) has permitted the re-appointment of Inderjit Camotra as MD and CEO of Unity Small Finance Financial institution for 2 years.

Below his management, the financial institution has constructed a deposit base of over ₹8,000 crore, a mortgage ebook of over ₹8,500 crore and a community of about 400 banking shops and workplaces throughout 21 States and UTs in India, per a Unity SFB assertion.

Previous to being appointed as head of Unity SFB, Camotra was Govt Director with Centrum Monetary Companies Ltd/CFSL (Promoter Entity of Unity Financial institution).

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