New MDs for Union Bank and Central Bank of India Announced by Government

The Government of India has appointed new Managing Directors (MDs) and Chief Executive Officers (CEOs) for Union Bank of India and Central Bank of India. Such leadership changes are significant for aspirants of government and banking exams, as they can influence banking policies, strategic directions, and relevant current affairs topics.

New MDs for Union Bank and Central Bank of India Announced by the Government

The Appointments Committee of the Cabinet, chaired by the Prime Minister, approved the appointments for a three-year term. Asheesh Pandey is now the Managing Director and CEO of Union Bank of India, while Kalyan Kumar takes over as MD and CEO of Central Bank of India. Both appointments began in September 2025 and were made to fill crucial leadership positions after the previous heads completed their terms.

Asheesh Pandey: Union Bank of India

• Asheesh Pandey brings over 27 years of experience in various top banks, including Corporation Bank and Bank of Maharashtra.
• He played a key role in digital transformation efforts, such as digital lending and introducing new banking technologies.
• Pandey’s educational background includes a degree in Mechanical Engineering and postgraduate management qualifications in finance and marketing.
• His appointment is seen as a move towards further strengthening Union Bank’s digital footprint and customer-centric operations.

Kalyan Kumar: Central Bank of India

• Kalyan Kumar is a senior banker with vast experience, including as Executive Director at Punjab National Bank and more than two decades at Union Bank of India.
• He has contributed significantly to business process transformation, credit monitoring, and operational efficiency.
• Kumar holds a postgraduate degree in science and is a Certified Associate of the Indian Institute of Bankers, with additional certifications in SME finance, IT security, and trade finance.
• His leadership is expected to enhance the Central Bank’s growth and operational discipline.

Key Takeaways for the exam

These new appointments reflect the government’s focus on strong leadership and digital innovation in public sector banks, signalling likely changes in policies and customer service approaches in the coming years.

• Asheesh Pandey appointed MD and CEO of Union Bank of India with nearly 30 years of banking experience, emphasizing digital innovation and strategic growth.
• Kalyan Kumar named MD and CEO of Central Bank of India, bringing strong expertise in operational efficiency and business transformation.
• Both appointments were approved by the Appointments Committee of the Cabinet, chaired by the Prime Minister, for a three-year term.
• Pandey has a background in mechanical engineering, an MBA, and several banking certifications, with prior roles including Executive Director at Bank of Maharashtra.
• Kumar’s experience includes senior leadership at Punjab National Bank and a focus on credit monitoring and operational excellence.
• These leadership changes aim to promote digital transformation, improve customer service, and drive competitive growth in public sector banks.
• The selection process involved prominent banking and government veterans, ensuring merit-based appointments.
• Candidates preparing for government and banking exams should note these appointments as part of current affairs and banking sector updates.

Key Members of FSIB and ACC Along with Their Credentials

The Financial Services Institutions Bureau (FSIB) is led by Bhanu Pratap Sharma, a former Secretary of the Department of Personnel and Training (DoPT).

The FSIB also features several part-time expert members:

• Animesh Chauhan – Former Chairman & Managing Director of the erstwhile Oriental Bank of Commerce.
• Deepak Singhal – Ex-Executive Director at the Reserve Bank of India (RBI).
• Shailendra Bhandari – Former Managing Director of ING Vysya Bank.

Major Achievements or Initiatives Led by Newly Appointed MDs

The information on the FSIB panel and the proven track record of the new MDs offers readers a deeper understanding, useful both for banking exam preparation and for insights into the management of financial institutions.

Asheesh Pandey – Union Bank of India

• Brings over 27 years of banking experience, including leadership roles at Corporation Bank, Bank of Maharashtra, and as Executive Director at Bank of Maharashtra prior to joining Union Bank.
• Instrumental in implementing digital banking solutions, enhancing platforms for digital lending and introducing advanced banking technologies to improve customer experience.
• Applied his expertise in finance and marketing to boost operational efficiency and support strategic growth.
• His appointment is expected to accelerate Union Bank’s digital initiatives and strengthen customer-focused services.

Kalyan Kumar – Central Bank of India

• Veteran banker with senior roles including Executive Director at Punjab National Bank and extensive experience at Union Bank of India spanning two decades.
• Known for driving business process improvements, credit monitoring, and operational efficiency.
• Holds certifications in SME finance, IT security, and trade finance, contributing to stronger risk management practices.
• His leadership is projected to support Central Bank of India’s growth, streamline operations, and enhance credit delivery systems.