Asheesh Pandey, Kalyan Kumar Appointed Bank CEOs for 3 Years

In a significant leadership reshuffle in India’s banking sector, the government has appointed Asheesh Pandey as the Managing Director and CEO of Union Bank of India, and Kalyan Kumar as the MD and CEO of Central Bank of India. Both appointments are for a three-year term, following the approval of the Appointments Committee of the Cabinet (ACC).

Who Are the Appointees?

Asheesh Pandey

Previously serving as Executive Director at Bank of Maharashtra, Asheesh Pandey brings experience in banking operations and credit management. He will now take over as the CEO of Union Bank of India, one of India’s largest public sector banks.

Kalyan Kumar

Currently the Executive Director at Punjab National Bank (PNB), Kalyan Kumar will succeed M.V. Rao as the CEO of Central Bank of India upon Rao’s superannuation in July 2025.

Selection Process and FSIB’s Role

The appointments were recommended by the Financial Services Institutions Bureau (FSIB) on May 30, 2025. FSIB, headed by Bhanu Pratap Sharma, plays a key role in identifying leadership talent for public sector financial institutions.

Other FSIB members involved in the selection process include,

• Animesh Chauhan, former chairman of Oriental Bank of Commerce
• Deepak Singhal, former Executive Director at RBI
• Shailendra Bhandari, former MD of ING Vysya Bank

These appointments reflect the government’s focus on stronger governance and leadership within public sector banks.

Strategic Importance

The leadership changes come at a time when Indian public sector banks are,

• Navigating through global financial headwinds
• Enhancing digitization and customer service frameworks
• Preparing for increased credit growth amid India’s expanding economy

With both Pandey and Kumar bringing substantial banking experience, these appointments are expected to aid in streamlining operations, improving asset quality, and enhancing profitability.

Quick Points

• Asheesh Pandey: MD & CEO, Union Bank (from Bank of Maharashtra)
• Kalyan Kumar: MD & CEO, Central Bank of India (from PNB)
• Term: 3 years
• Approved by: Appointments Committee of the Cabinet
• Recommended by: FSIB (May 30, 2025)