The Reserve Bank of India has approved the appointment of former Comptroller and Auditor General (CAG) Vinod Rai as chairman of Unity Small Finance Bank. Rai, after his retirement as the CAG, headed the Banks Board Bureau, the body that advises the government on top-level appointments at public sector lenders and ways to address bad loans, as its chairman, Unity Small Finance Bank said in a statement. Unity has veteran banking, such as Basant Seth, ex-CMD of Syndicate Bank and deputy MD of Sidbi; and Subhash Kutte, former chairman of RBL Bank, as board members.
