- Asheesh Pandey appointed MD & CEO of Union Bank of India for three years.
- Kalyan Kumar named MD & CEO of Central Bank of India, effective July 2025.
- Appointments cleared by Appointments Committee of Cabinet based on FSIB recommendations.
The Government of India has appointed Asheesh Pandey as the new Managing Director and Chief Executive Officer
of Union Bank of India for a tenure of three years. Pandey, currently Executive Director at Bank of Maharashtra,
will take charge of his new role with immediate effect.
His appointment was approved by the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister
Narendra Modi, following the recommendation of the Financial Services Institutions Bureau (FSIB).
In a parallel move, Kalyan Kumar, Executive Director at Punjab National Bank (PNB), has been appointed
as the MD & CEO of Central Bank of India for a three-year term. He will assume charge after the superannuation
of the current chief, M. V. Rao, in July 2025. These appointments fill leadership vacancies created by
earlier retirements.
Selection Process
The appointments were finalised after careful evaluation by a high-level selection panel that included
Animesh Chauhan (former Chairman & MD of Oriental Bank of Commerce),
Deepak Singhal (former RBI Executive Director), and
Shailendra Bhandari (former MD of ING Vysya Bank).
Profiles of the New Appointees
- Asheesh Pandey: Brings extensive banking experience from leadership roles across PSBs. Expected to drive
strategic growth and operational efficiency at Union Bank. - Kalyan Kumar: With years of senior management experience at PNB, he is set to lead Central Bank of India
towards improved performance and stability.
These appointments highlight the government’s focus on strengthening public sector banks with experienced leadership
to support India’s financial sector growth. Both leaders are expected to play a crucial role in maintaining momentum
and stability in two of India’s important state-run lenders.
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