Union Bank and Central Bank are appointed new MD and CEOs by government

Overview of Appointments

• New leadership of two leading state-owned banks has been endorsed by the Appointments Committee of the cabinet (ACC), which is led by the Prime Minister.
• The appointments are made to last three years.

Appointment Specifics

• Union Bank of India
  • New MD & CEO: Asheesh Pandey
  • Presently working as the Executive Director of Bank of Maharashtra.
• Central Bank of India
  • New MD & CEO: Kalyan Kumar
  • Present Post: Punjab National Bank (PNB): Executive Director.
  • Succeeds: M. V. Rao on superannuation in July.

Selection Process

• The appointments are in line with the recommendations of the Financial Services Institutions Bureau (FSIB) on May 30, 2025.
• The most important body is the FSIB which is headed by the former secretary of the DoPT Bhanu Pratap Sharma and is tasked with appointment of the best executives in the financial institutions of the government.