The Government of India is preparing to appoint new Managing Directors and Chief Executive Officers (MD & CEO) for Union Bank of India and Central Bank of India, with both top posts lying vacant for months.
The Union Bank of India has been without a full-time MD & CEO since June 3, 2025, following the retirement of A. Manimekhalai. Similarly, MV Rao demitted office as head of Central Bank of India on July 31, 2025.
According to reports, the Department of Financial Services (DFS) has recommended a reshuffle under which Kalyan Kumar, Executive Director at Punjab National Bank, is likely to take charge of Union Bank of India, while Lalit Tyagi, currently Executive Director at Bank of Baroda, is expected to head Central Bank of India.
The likely appointments, however, mean a setback for Asheesh Pandey, Executive Director at Bank of Maharashtra, who has once again been dropped from the race despite being recommended earlier by the Financial Services Institutions Bureau (FSIB).
On May 30, 2025, FSIB had proposed Pandey for Union Bank of India and Kalyan Kumar for Central Bank of India. But the DFS appears to have reworked the assignments, switching Kumar to Union Bank and moving Tyagi to Central Bank.
The final orders on the appointments are expected soon.
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