Ujjivan Small Finance Bank appoints Biswamohan Mahapatra as part-time chairman

Ujjivan Small Finance Bank on Tuesday (28 April) said it appointed Biswamohan Mahapatra as part-time chairman (non-executive) of the bank for three years from 28 April 2020.

Biswamohan Mahapatra has been on the board of the bank since January 2017 as an independent director. He holds a Master of Arts degree from Jawaharlal Nehru University, New Delhi, Master of Science in Managernent Degree from Arthur D. Little Management Education Institute, Cambridge, United States of America and Master of Business Administration from Delhi University. He retired as an executive director of RBI in August 2014. The announcement was made post trading hours yesterday, 28 April 2020.

On the technical front, the stock's RSI (relative strength index) stood at 44.359. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading below its 50-day moving average (DMA) placed at Rs 37.58 and above its 200-day moving average (DMA) placed at Rs 21.34.

Ujjivan Small Finance Bank is spread across 24 states and union territories end March 2019. The bank has strong 4.94 million customers base operated from 552 banking outlets end September 2019.

Shares of Ujjivan Small Finance Bank gained 0.85% to Rs 29.55 on BSE. The stock traded in the range of Rs 28.80 to Rs 30 so far.

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