Asheesh Pandey Union Bank CEO and Kalyan Kumar Central Bank India appointed as MD & CEOs for three years, strengthening public sector bank leadership and digital banking initiatives.

Government Appoints Asheesh Pandey and Kalyan Kumar as MD & CEOs of Union Bank and Central Bank of India

In a significant move to strengthen leadership within the public sector banking space, the Government of India has appointed Asheesh Pandey as the Managing Director (MD) and Chief Executive Officer (CEO) of Union Bank of India, and Kalyan Kumar as the MD and CEO of Central Bank of India. Both appointments are for a tenure of three years, effective from the date of assumption of charge.

Asheesh Pandey: A Seasoned Banker Takes Charge

Asheesh Pandey, previously serving as the Executive Director at Bank of Maharashtra, brings over 27 years of experience in the banking sector. His career commenced at Corporation Bank in Mumbai, and he has held various senior positions, including Chief General Manager and Chief Operating Officer at Union Bank of India. Pandey is a mechanical engineer with a postgraduate degree in management, equipping him with a robust technical and strategic foundation

His appointment marks a return to Union Bank, where he is expected to lead the bank towards enhanced digital banking initiatives, financial inclusion, and MSME support. Union Bank, headquartered in Mumbai, is one of the country’s leading public sector banks, with operations extending overseas to the UAE, Australia, the UK, and Malaysia.

Kalyan Kumar: New Leadership at Central Bank of India

Kalyan Kumar, the Executive Director of Punjab National Bank, has been appointed as the MD and CEO of Central Bank of India. He succeeds M.V. Rao, who retired in July 2025. Kumar’s extensive experience in the banking sector positions him well to steer Central Bank towards greater operational efficiency and customer-centric services.

The Central Bank of India, established in 1911, is one of the oldest and largest commercial banks in India. Under Kumar’s leadership, the bank aims to enhance its digital banking services and expand its reach to underserved regions.

Significance of the Appointments

These appointments are pivotal in the context of India’s evolving banking landscape. The government’s decision to appoint experienced professionals to lead major public sector banks underscores its commitment to strengthening the banking sector’s leadership. Both Union Bank and Central Bank play crucial roles in the financial inclusion agenda, and the new leadership is expected to drive initiatives that align with national economic goals.

Why This News Is Important

Strengthening Public Sector Bank Leadership

The appointments of Asheesh Pandey and Kalyan Kumar to the top positions in Union Bank and Central Bank of India, respectively, are strategic decisions aimed at reinforcing the leadership of public sector banks. With their extensive experience and proven track records, both leaders are expected to bring stability and direction to their respective institutions.

Alignment with Government’s Financial Inclusion Goals

Union Bank and Central Bank of India are integral to the government’s financial inclusion initiatives. The new leadership is anticipated to accelerate efforts in expanding banking services to underserved and unbanked populations, thereby contributing to the broader economic development objectives.

Impact on Banking Sector Reforms

The appointments reflect the government’s ongoing efforts to reform and modernize the banking sector. Under the guidance of experienced professionals, both banks are likely to implement innovative solutions, enhance digital banking capabilities, and improve customer service standards.

Historical Context

The Financial Services Institutions Bureau (FSIB), a body responsible for recommending appointments to top positions in public sector banks, recommended Asheesh Pandey and Kalyan Kumar for the MD and CEO roles in May 2025. The Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi, approved these recommendations, leading to the official appointments in September 2025.

Union Bank of India, established in 1919, has undergone significant transformations, including the merger with Andhra Bank and Corporation Bank in 2020. Similarly, Central Bank of India, founded in 1911, has a rich legacy and continues to play a pivotal role in the nation’s banking sector.

Key Takeaways from “Government Appoints Asheesh Pandey and Kalyan Kumar as Bank CEOs”

No.	Key Takeaway
1.	Asheesh Pandey appointed MD & CEO of Union Bank of India for three years.
2.	Kalyan Kumar appointed MD & CEO of Central Bank of India for three years.
3.	Both appointments approved by the Appointments Committee of the Cabinet.
4.	Pandey brings over 27 years of banking experience, including leadership roles at Union Bank.
5.	Kumar succeeds M.V. Rao at Central Bank of India, aiming to enhance operational efficiency.

Asheesh Pandey Union Bank CEO

FAQs: Frequently Asked Questions

1. Who has been appointed as the MD and CEO of Union Bank of India?
Asheesh Pandey has been appointed as the Managing Director and Chief Executive Officer of Union Bank of India for a tenure of three years.

2. Who is the new MD and CEO of Central Bank of India?
Kalyan Kumar has been appointed as the MD and CEO of Central Bank of India, succeeding M.V. Rao.

3. What is the tenure of Asheesh Pandey and Kalyan Kumar in their new positions?
Both appointments are for a tenure of three years, effective from the date they assume charge.

4. What is Asheesh Pandey’s previous experience in the banking sector?
He has over 27 years of experience, having served as Executive Director at Bank of Maharashtra, and held senior positions at Union Bank of India and Corporation Bank.

5. Which government body approves the appointments of MD and CEOs in public sector banks?
The Appointments Committee of the Cabinet (ACC), chaired by the Prime Minister of India, approves these appointments based on FSIB recommendations.

6. Why are these appointments important for public sector banks?
They bring experienced leadership to key banks, aiming to improve operational efficiency, digital banking, and financial inclusion initiatives.

7. When was Union Bank of India originally established?
Union Bank of India was established in 1919 and underwent mergers with Andhra Bank and Corporation Bank in 2020.

8. When was Central Bank of India established?
Central Bank of India was established in 1911 and is one of the oldest commercial banks in India.

9. What are the expected focus areas for the new bank CEOs?
Enhancing digital banking services, promoting financial inclusion, supporting MSMEs, and increasing operational efficiency.

10. Who did Kalyan Kumar succeed as the MD and CEO of Central Bank of India?
He succeeded M.V. Rao, who retired in July 2025.