UBI CMD's tenure extended

The Government has asked Mr M.V. Nair to continue as Chairman and Managing Director of Union Bank of India for three more months or until further orders. Mr Nair was appointed as CMD of the bank on April 1, 2006, for a period of five years and his term ended on Thursday. However, even after completing the five-year tenure, he has one more year to go to superannuate. An order granting Mr Nair a year's extension is likely in a week, said a senior bank official.