New Delhi (30.09.2025): The government on Tuesday appointed new Managing Directors and CEOs for two prominent public sector lenders, Union Bank of India and Central Bank of India, following recommendations from the Financial Services Institutions Bureau (FSIB). The appointments, cleared by the Appointments Committee of the Cabinet (ACC), are for a period of three years.
Asheesh Pandey to Head Union Bank of India:
In a significant leadership change, Asheesh Pandey, currently an Executive Director at Bank of Maharashtra, has been appointed as the new MD & CEO of Union Bank of India. He takes over from A. Manimekhalai, who superannuated on June 2, 2025.
Pandey's appointment is for a three-year term, and his service tenure until June 2031 gives him a strong possibility of securing successive extensions, a move that is expected to provide stability and long-term vision to the bank.
Kalyan Kumar Takes Charge at Central Bank of India:
Simultaneously, the ACC has also cleared the appointment of Kalyan Kumar as the MD & CEO of Central Bank of India. Kumar, who is currently an Executive Director at Punjab National Bank (PNB), succeeds M. V. Rao, following his retirement.
Kumar's term is also for three years, with a service tenure extending until January 2029. Like Pandey, this long residual service makes him a strong candidate for potential extensions, allowing for sustained leadership.
Both appointments were the outcome of a rigorous selection process conducted by the FSIB, the government's headhunting agency for top management positions in state-owned financial institutions. The FSIB had interviewed a pool of candidates before recommending Pandey and Kumar for the top positions at the respective banks, a process that has now culminated in a formal notification from the government.
