Pursuant to SEBI Listing Regulations, the Board of Directors of Utkarsh Small Finance Bank Limited held a meeting on June 20, 2026, which commenced at 10:00 a.m. IST and concluded at 07:30 p.m. IST. The Board inter-alia considered and approved the following matters:

1. Tier II Capital Raise

  • Approved issuance of Unsecured, Subordinated, Redeemable, Tier II bonds in the form of Non-Convertible Debentures.
  • Aggregate amount: Up to ₹500 crore.
  • Issuance method: Private placement basis, in one or more tranches.
  • Purpose: Part of additional Tier II Capital.
  • Conditions: Subject to regulatory/statutory approvals and any other necessary approvals.
  • Authority: Within the borrowing limit(s) provided under Section 180(1)(c) of the Companies Act, 2013.

2. Annual General Meeting

  • The 10th Annual General Meeting (AGM) of the Bank will be held on Tuesday, August 04, 2026 at 02:30 p.m. Indian Standard Time (IST).
  • Format: Video Conferencing (VC).
  • The Notice convening the AGM and the Annual Report for FY 2025–26 will be dispatched to shareholders in due course in compliance with statutory requirements.

3. Appointment of Whole Time Director

  • Appointed Mr. Sarjukumar Pravin Simaria (DIN: 02436025) as an Additional Director in the category of Whole Time Director (Executive Director).
  • Appointment is liable to retire by rotation.
  • Term: 3 consecutive years with effect from June 22, 2026 to June 21, 2029 (both days inclusive).
  • Basis: Pursuant to recommendation of Nomination and Remuneration Committee (NRC) and approval received from Reserve Bank of India (RBI).
  • Final approval: Subject to shareholder approval.

4. Relinquishment of CFO Role

  • In compliance with RBI approval for his appointment as Whole Time Director, Mr. Sarjukumar Pravin Simaria relinquished his position as Chief Financial Officer (CFO) of the Bank.
  • Effective: Close of business hours on June 20, 2026.
  • Reason: Regulatory requirement to step down from CFO role prior to assuming charge as Whole-Time Director.
  • Mr. Simaria confirmed no material reasons for this change other than the regulatory requirement.

5. Director Profile

  • Mr. Sarjukumar Pravin Simaria is a seasoned finance professional with over three decades of post-qualification experience.
  • Previously served as Chief Financial Officer across diverse segments of financial services including Banking, Insurance, NBFCs, and Asset Management (Mutual Funds).
  • Has overseen businesses in Broking, Wealth Management, Asset Reconstruction, and Investment Banking.
  • Qualifications: Chartered Accountant (1992) and Commerce degree from Sydenham College of Commerce & Economics, University of Mumbai.
  • Bank-specific contributions: Played pivotal role in strengthening the Bank's financial architecture and capital strategy over past 3.5 years. Successfully steered the Bank through its IPO (which witnessed over 100 times subscription) and recently led the Bank's ₹950 crore capital raise.

6. Additional Disclosures

  • Mr. Sarjukumar Simaria is not debarred from holding the office of director by virtue of any SEBI or other authority order.
  • No relationship exists between directors inter-se.
  • The disclosure is available on the Bank's website: www.utkarsh.bank.in.