Who Are the New Leaders of Union Bank and Central Bank of India?
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Synopsis
In a significant leadership shift, Asheesh Pandey and Kalyan Kumar have been appointed as MD and CEO of Union Bank and Central Bank of India, respectively. This article delves into their backgrounds, the approval process, and the implications for the banking sector.
Key Takeaways
- Asheesh Pandey appointed as MD and CEO of Union Bank of India.
- Kalyan Kumar takes the helm at Central Bank of India.
- Both appointments are for a three-year term.
- The approval was granted by the Appointments Committee of the Cabinet.
- Shirish Chandra Murmu appointed as a Deputy Governor of the Reserve Bank of India.
New Delhi, Sep 30 (NationPress) The government has officially announced the appointment of Asheesh Pandey as the Managing Director and Chief Executive Officer of Union Bank of India, and Kalyan Kumar as the latest head of Central Bank of India. Both individuals will serve in their respective roles for a term of three years.
The Appointments Committee of the Cabinet, led by Prime Minister Narendra Modi, endorsed these appointments.
Pandey, who is presently functioning as the Executive Director of Bank of Maharashtra, is set to begin his role as MD and CEO of Union Bank of India for a three-year period starting from the date he takes office.
In a similar vein, Kalyan Kumar, who is the Executive Director at Punjab National Bank, will assume the position of MD and CEO at Central Bank of India following the retirement of the current head, M.V. Rao, in July.
The Financial Services Institutions Bureau (FSIB) had put forward recommendations for both Pandey and Kumar on May 30. This bureau is chaired by Bhanu Pratap Sharma, a former Secretary in the Department of Personnel and Training.
Additionally, the government has appointed Shirish Chandra Murmu as a Deputy Governor of the Reserve Bank of India for a three-year duration.
Murmu's appointment was also ratified by the Appointments Committee of the Union Cabinet and is set to take effect from October 9. He will take over from M. Rajeshwar Rao, whose prolonged service concludes on October 8.
Murmu is currently serving as Executive Director at the RBI, overseeing the Department of Supervision.
As per regulatory requirements, the RBI is mandated to have four Deputy Governors: one from the commercial banking sector, two from within the bank itself, and one economist.
The remaining Deputy Governors include Swaminathan J, Poonam Gupta, and T. Rabi Sankar.
Rao has held his position for five years. He was appointed Deputy Governor for an initial three-year term in 2020, followed by two one-year extensions in 2023 and 2024.
Point of View
I emphasize that these appointments reflect the government's commitment to enhancing leadership within our financial institutions. Both Asheesh Pandey and Kalyan Kumar bring substantial expertise to their roles, which is crucial for navigating the challenges and opportunities in India's dynamic banking landscape.
NationPress
30/09/2025
Frequently Asked Questions
Who has been appointed as MD and CEO of Union Bank?
Asheesh Pandey has been appointed as the MD and CEO of Union Bank of India.
What is the term length for the new appointments?
Both Asheesh Pandey and Kalyan Kumar will serve a term of three years.
Who is taking over as the head of Central Bank of India?
Kalyan Kumar has been appointed as the new head of Central Bank of India.
What position did Shirish Chandra Murmu get?
Shirish Chandra Murmu has been appointed as a Deputy Governor of the Reserve Bank of India.
Who approved the recent appointments?
The Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi, approved the recent appointments.
