The Appointments Committee of the Cabinet (ACC) has approved three names to head three public sector banks.
A Manimekhalai, Executive Director at Canara Bank, has been appointed Managing Director and Chief Executive Officer of Union Bank of India for three years. She is eligible for an extension of service, after a performance review, for two years or until attaining the age of superannuation (March 31, 2026). She will replace G Rajkiran Rai.
Ajay Kumar Srivastava, Executive Director at Indian Overseas Bank, has been appointed MD and CEO for three years. He would be eligible for an extension, after a review of his performance, for two years or until superannuation (October 31, 2027), according to an order issued by the Department of Personnel and Training (DoPT). He will replace Partha Pratim Sengupta..
Swarup Kumar Saha, Executive Director at Punjab National Bank, has been appointed MD and CEO of Punjab & Sind Bank for three years. He will replace S Krishnan. Saha will be eligible for an extension, after a review of his performance, for two years or until superannuation (February 28, 2027).