Executive Directors Appointed in PSBs 2025 including Canara Bank, Union Bank, PNB, and Indian Bank. Learn about tenure, key roles, FSIB recommendations, and exam-relevant banking updates.
Government appoints new Executive Directors in multiple banks — Strengthening PSU banking leadership
Strategic appointment of five new Executive Directors (EDs)
The Government of India has appointed five new Executive Directors (EDs) across key Public Sector Banks (PSBs), effective 24 November 2025 for a standard tenure of three years.
The new appointees are:
- Sunil Kumar Chugh — ED, Canara Bank (previously Chief General Manager at Punjab National Bank)
- Amresh Prasad — ED, Union Bank of India (also from PNB)
- Prabhat Kiran — ED, Bank of Maharashtra (was CGM at Canara Bank)
- Mini TM — ED, Indian Bank (from Bank of Baroda)
- Amit Kumar Srivastava — ED, Punjab National Bank (PNB), previously serving as Group Chief Risk Officer at PNB
What prompted the reshuffle
This leadership reshuffle is part of the government’s ongoing efforts to reinforce governance, risk management, and strategic oversight within public sector banks. With increasing challenges like non-performing assets (NPAs), regulatory compliance, and the need for digital transformation, the new EDs are expected to strengthen decision-making at the executive level.
The appointments also reflect the role of the Financial Services Institutions Bureau (FSIB), which recommended 11 candidates for ED positions after a thorough selection process — among whom these five EDs were selected subject to vacancies in 2025–26.
Implications for PSBs and banking sector reforms
With seasoned professionals now in top executive roles, the concerned banks may witness stronger oversight on credit quality, improved risk governance, and a sharper focus on digital and retail banking reforms. This move is expected to help accelerate ongoing reforms, enhance operational efficiency and compliance frameworks, and restore public confidence in PSBs.
Moreover, as these appointments come from within the PSB ecosystem — mostly elevating Chief General Managers and senior officers — it signals continuity and internal talent growth rather than external changes, which may help maintain institutional stability.
Why this News is Important
This development matters significantly for competitive-exam aspirants — especially those preparing for banking, general awareness, and current affairs sections — because:
- It reflects the latest leadership changes in major Public Sector Banks (PSBs), which are often asked in banking-awareness or general-knowledge questions.
- It shows the government’s push for improved governance and reforms in the banking sector, highlighting strategic directions that can shape future policies — relevant for aspirants of civil services, banking, and defence exams.
- Understanding such appointments helps aspirants appreciate the internal working and hierarchical structure of Indian banking — knowledge of which can be helpful for bank-recruitment exams like PO/Clerk, or for general-awareness in broader exams (SSC, Railways, etc.).
- It underlines the role of institutional mechanisms like the FSIB and the government’s oversight via the Ministry of Finance, useful for understanding how administrative decisions are made — a common theme in exams like IAS/PCS.
- For macro-economic and civics-related topics, such news signals ongoing reforms and the health of public financial institutions — relevant for questions on Indian economy, banking sector reforms, and governance.
Historical Context
Public Sector Banks in India have periodically undergone leadership reshuffles to ensure that experienced bankers occupy strategic positions for better governance and performance. In recent years, the government has emphasized banking reforms, including consolidation of PSBs, strengthening risk management practices, improving credit oversight, and pushing digitization.
To streamline appointments in PSBs, the FSIB (set up in 2022) was given the mandate to recommend eligible senior officers for top leadership roles such as Executive Directors, MDs, and CEOs.
Earlier, in 2023, a batch of 12 EDs was approved across various state-owned banks, signalling a systematic approach to refreshing leadership at executive levels.
The current round of appointments (2025) is a continuation of this process, aiming to ensure that banks have competent leadership to navigate evolving challenges — from digital transformation and regulatory compliance to credit risk and economic headwinds.
Thus, this move is not an isolated event but part of a broader, ongoing reform trajectory in India’s banking sector to bolster institutional robustness and adapt to changing economic demands.
Key Takeaways from This News
| S.No. | Key Takeaway |
|---|---|
| 1 | As of 24 November 2025, the Government of India appointed five new Executive Directors across major PSBs for a three-year term. |
| 2 | The new EDs are Sunil Kumar Chugh (Canara Bank), Amresh Prasad (Union Bank of India), Prabhat Kiran (Bank of Maharashtra), Mini TM (Indian Bank), and Amit Kumar Srivastava (PNB). |
| 3 | The appointments aim to strengthen governance, risk management, credit oversight, and support reforms such as digital and retail banking transformation. |
| 4 | The process was guided by the FSIB, which shortlisted senior officers from PSBs and sent recommendations to the Appointments Committee of the Cabinet. |
| 5 | For exam-aspirants (banking, SSC, civil services), these names and changes are important current affairs data that may appear in banking awareness or general-knowledge questions. |
FAQs: Frequently Asked Questions
Q1: Who are the newly appointed Executive Directors in Public Sector Banks as of November 2025?
A1: The Government of India appointed five new Executive Directors: Sunil Kumar Chugh (Canara Bank), Amresh Prasad (Union Bank of India), Prabhat Kiran (Bank of Maharashtra), Mini TM (Indian Bank), and Amit Kumar Srivastava (Punjab National Bank).
Q2: What is the tenure of the newly appointed Executive Directors?
A2: The tenure of the newly appointed EDs is three years.
Q3: What is the role of the Financial Services Institutions Bureau (FSIB) in these appointments?
A3: FSIB recommends senior officers from PSBs for top positions, including Executive Directors, after evaluating their experience, performance, and eligibility.
Q4: Why are these Executive Director appointments significant for students preparing for competitive exams?
A4: These appointments reflect key developments in the Indian banking sector and are often asked in banking awareness, general knowledge, and current affairs sections of exams like IBPS, SBI PO/Clerk, SSC, Railways, and civil services exams.
Q5: What are the main objectives of these appointments in Public Sector Banks?
A5: The appointments aim to strengthen governance, enhance risk management, improve credit oversight, accelerate digital transformation, and ensure operational efficiency in PSBs.
Q6: Which banks received new Executive Directors in this round of appointments?
A6: Canara Bank, Union Bank of India, Bank of Maharashtra, Indian Bank, and Punjab National Bank received new EDs.
Q7: From which banks were these EDs promoted?
A7: Sunil Kumar Chugh and Amresh Prasad were from Punjab National Bank, Prabhat Kiran from Canara Bank, Mini TM from Bank of Baroda, and Amit Kumar Srivastava from PNB.
Q8: How does this reshuffle reflect government banking reforms?
A8: It demonstrates the government’s focus on improving governance, digitalization, risk management, and overall operational efficiency of Public Sector Banks.
Some Important Current Affairs Links
