Govt Names Asheesh Pandey MD of Union Bank, Kalyan Kumar to Lead Central Bank of India

The government has approved new leadership for two major public sector banks, appointing Asheesh Pandey as MD and CEO of Union Bank of India and Kalyan Kumar as MD and CEO of Central Bank of India. Both executives have been selected for a term of 3 years, aiming to strengthen institutional management in the public banking sector.

Asheesh Pandey to Lead Union Bank of India

Asheesh Pandey, who previously served as Executive Director at Bank of Maharashtra, has been appointed as the MD and CEO of Union Bank of India. His 3-year term begins from the date he assumes charge. With a strong background in retail, operational banking, and digital transformation, Pandey brings valuable experience to his new role at one of India's key nationalised banks.

Kalyan Kumar Joins as Head of the Central Bank of India

Kalyan Kumar, currently Executive Director at Punjab National Bank (PNB), has been approved to take over the top position at Central Bank of India following the retirement of M V Rao in July 2025. His appointment is also for a period of 3 years. Kumar’s leadership credentials span core banking operations and digital innovation, positioning him well to guide Central Bank through its next growth phase.

Read More: Government Appoints Shirish Chandra Murmu as RBI Deputy Governor for 3-Year Term!

Selection Process and FSIB's Role

The Financial Services Institutions Bureau (FSIB) recommended both appointments on May 30, 2025. The FSIB, headed by Bhanu Pratap Sharma, plays a central role in selecting leadership for public financial institutions. Other FSIB members include former banking veterans from leading public and private institutions, ensuring a balanced screening process.

Cabinet Committee Approval

These appointments were approved by the Appointments Committee of the Cabinet, led by the Prime Minister. The decisions are part of the government’s continuous efforts to inject fresh talent into public sector banks. The 3-year tenure offers a stable window for policy execution and operational reform under new leadership.

Conclusion

The appointments of Asheesh Pandey and Kalyan Kumar mark a significant step in strengthening leadership at Union Bank of India and Central Bank of India. Backed by extensive professional experience and a robust selection process, both banks are poised for enhanced stability and strategic growth during their tenure.

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