Leadership Transition: Asheesh Pandey and Kalyan Kumar Take Charge of Major Indian Banks

Asheesh Pandey has become the MD and CEO of Union Bank of India, while Kalyan Kumar has been appointed as the head of Central Bank of India. These appointments, approved for three years, mark a strategic leadership transition in significant Indian financial institutions, aiming to drive growth and adaptation.

In a significant reshuffle in India's banking sector, Asheesh Pandey has been appointed as the Managing Director and Chief Executive Officer of Union Bank of India. His tenure commences immediately, following his recent role as Executive Director of the Bank of Maharashtra.

The Appointments Committee of the Cabinet, led by the Prime Minister, has given the green light for these leadership changes, setting them for an initial three-year period.

Kalyan Kumar, previously with Punjab National Bank, is set to lead the Central Bank of India post the retirement of MV Rao this July, as recommended by the Financial Services Institutions Bureau.

(With inputs from agencies.)