His appointment will come into effect from Friday (September 10, 2021).
Ujjivan Financial said Barnwal will continue to be the company secretary (CS) and key managerial personnel (KMP) of the company.
His elevation comes as former head Carol Furtado assumed charge as the CEO of subsidiary last month.
He has corporate experience of over 17 years. Before joining Ujjivan, he was associated with SMC Capitals Ltd as associate vice-president and CS.
Ujjivan said Barnwal’s corporate and investment banking experience and active interactions with regulators, among others, and long association with Ujjivan will continue to add value to his larger role and responsibility as the company’s CEO.
He holds 6,000 equity shares (0.005 per cent stake) of the company, it said.
Shares of the company on Thursday closed at Rs 157.20 apiece on the BSE, up 9.81 per cent from the previous close.