On September 30, 2025, Appointments Committee of the Cabinet (ACC), Government of India (GOI), chaired by Prime Minister (PM) Narendra Modi approved the appointment of Asheesh Pandey as Managing Director (MD) and Chief Executive Officer (CEO) of Union Bank of India (UBI) and Kalyan Kumar as MD & CEO of Central Bank of India (CBI) for a period of three years with effect from the date of assuming their offices.
- The appointments were recommended by the Financial Services Institution Bureau (FSIB) on May 30, 2025.
- With this move, Asheesh Pandey will succeed A. Manimekalai, whose tenure ended in June 2025, and Kalyan Kumar will replace Matam Venkata (M.V.) Rao, who retired in July 2025
Exam Hints:
- What? Approval of appointments
- Approver: ACC chaired by PM Narendra Modi
- Designation: MD & CEO
- Appointment 1: Asheesh Pandey (UBI)
- Succeed: A. Manimekalai
- Appointment 2: Kalyan Kumar (CBI)
- Succeed: Matam Venkata (M.V.) Rao
- Recommendation: FSIB
About Asheesh Pandey:
In UBI: He began his banking career in Corporation Bank in Mumbai (Maharashtra). Later he joined UBI and worked as Chief General Manager (CGM) and Chief Operating Officer (COO). He led process re-engineering, automation, and digitization and played a key role in establishing insurance and Mutual Fund (MF) businesses at UBI.
In BOM Subsidiaries: He also served as the Chairman of the Maharashtra Executor & Trustee Company Limited, a wholly owned subsidiary of BOM, and as a President & Trustee representing Bank in Gramin Mahila Va Balak Vikas Mandal (GMBVM), a Trust of BOM.
About Kalyan Kumar:
In UBI: In 1995, he began his banking career as a Rural Development Officer in UBI, where he served in various capacities, including Branch Head (Including Very large branches), Faculty at Staff Training Centres, Principal of the Staff College, and CGM Human Resources (HR).
Supervision & Control: He led the amalgamation of Andhra Bank and Corporation Bank into UBI which took effect on April 1, 2020. He led HR projects such as “Union Bhavishya”, a leadership program, “Union Prerna”, a digital HR transformation program, and contributed to business process transformation, vigilance, and credit monitoring.
Initiatives launched: He launched “PNB Udaan”, a HR Transformation with clear Key Result Areas (KRAs), “PNB Palaash” an Environment, Social, and Governance (ESG) initiative. He spearheaded Business Acquisition & Relationship Division.
Leadership: He was the Chairman of PNB Gilts Limited and PNB Cards & Services Limited. He also serves as a Board Member of the India Infrastructure Finance Company Limited (IIFCL), nominated by a Scheduled Commercial Bank (SCB) and a Nominee Member of the Management Development Institute (MDI).
About Central Bank of India (CBI):
Chief Executive Officer (CEO) – Matam Venkata (M.V.) Rao
Headquarters – Mumbai, Maharashtra
Established – 1911
Tagline – Central to You Since 1911
