Government Appoints New Executive Directors in Multiple Banks

In a significant move, the Government of India has appointed five new Executive Directors (EDs) across leading Public Sector Banks (PSBs) to strengthen the management and operational leadership. The appointments took effect on November 24, 2025, and each is set for a three-year tenure. This reshuffle reflects the government’s continued push for performance-oriented leadership in public sector banking, in line with broader reforms to improve governance and efficiency.

New Executive Director Appointments

1. Sunil Kumar Chugh – Canara Bank

Previously Chief General Manager (CGM) at Punjab National Bank, Chugh has been appointed as ED at Canara Bank. He brings a wealth of experience in banking operations, compliance, and financial management.

2. Amresh Prasad – Union Bank of India

Also a CGM at Punjab National Bank, Prasad will now serve as ED at Union Bank of India, enhancing the leadership bench at one of India’s key state-run banks.

3. Prabhat Kiran – Bank of Maharashtra

Kiran, currently serving as CGM in Canara Bank, has been elevated to Executive Director at Bank of Maharashtra, bringing deep insight from his previous roles in credit and corporate banking.

4. Mini TM – Indian Bank

Mini TM, CGM at Bank of Baroda, has been appointed as ED at Indian Bank. With decades of experience in branch operations and retail banking, she is expected to add value to Indian Bank’s transformation strategy.

5. Amit Kumar Srivastava – Punjab National Bank

Srivastava, who was the Group Chief Risk Officer at PNB, has now been promoted as Executive Director in the same bank. His background in risk and compliance aligns well with the growing importance of prudent risk governance in banking.

Appointment Details

• Effective Date: November 24, 2025
• Tenure: Three years
• Appointing Authority: Government of India (Ministry of Finance)
• Banks Involved: Canara Bank, Union Bank of India, Punjab National Bank, Indian Bank, Bank of Maharashtra

Significance of These Appointments

These leadership changes are expected to,

• Strengthen strategic decision-making at the executive level
• Support the implementation of reform initiatives in public sector banks
• Enhance risk management and credit oversight across institutions
• Drive forward digital and retail banking reforms

With ongoing challenges such as NPAs, regulatory compliance, and digital transformation, these appointments are critical for maintaining institutional stability and policy continuity.

Strategic Reinforcement in Banking Leadership

The appointment of these seasoned professionals to key executive roles underlines the government’s approach to banking sector leadership — prioritising experience, risk-awareness, and operational efficiency.

For competitive exam aspirants, these names and designations are important for current affairs, especially in banking awareness and general knowledge sections.

Static Facts

• Sunil Kumar Chugh – ED, Canara Bank (from PNB)
• Amresh Prasad – ED, Union Bank (from PNB)
• Prabhat Kiran – ED, Bank of Maharashtra (from Canara Bank)
• Mini TM – ED, Indian Bank (from Bank of Baroda)
• Amit Kumar Srivastava – ED, Punjab National Bank (promoted within PNB)
• Tenure: 3 years
• Effective Date: November 24, 2025
• Announced by: Ministry of Finance, Government of India

National News

India Debuts at WorldSkills Asia 2025 with 23-Member Contingent

For the first time, India has officially joined the WorldSkills Asia Competition, sending a 23-member contingent to Chinese Taipei on November 24, 2025. Coordinated by NSDC and WorldSkills India, the team will compete in 21 skill categories including mechatronics, CNC milling, web development, and cloud computing, reflecting India’s push to become the “Skill Capital of the World”. The initiative highlights the government’s focus on vocational excellence, global skill recognition, and future-ready workforce development, while providing Indian youth exposure to international standards and opportunities to showcase Skill India Mission achievements.

NCW Launches 14490: New 24×7 Short Helpline for Women in Distress

The National Commission for Women (NCW) has launched a new 24×7 toll-free short helpline 14490 to provide instant support to women facing violence, harassment, or distress across India. The helpline connects callers to legal aid, counselling, and law enforcement, ensuring quick intervention during emergencies. As part of NCW’s mission to enhance women’s safety and accessibility, 14490 is easy-to-remember, operational nationwide, and supports assistance for domestic violence, sexual harassment, cybercrime, and mental health, aligning with Digital India and women-centric development initiatives.

State News

Pralhad Joshi Inaugurates Pellet Plant, Lays Foundation of Bio-Ethanol Facility in Haryana

Union Minister Pralhad Joshi inaugurated a pellet plant and laid the foundation for the K2 Bio-Ethanol plant in Rewari, Haryana, aiming to convert crop residue into biomass pellets and ethanol. The pellet plant will produce 240 tonnes per day, supporting the E20 Mission and Net Zero 2070 goals while creating rural jobs and additional farmer income. The initiative promotes clean energy, co-firing in thermal plants, and carbon emission reduction, reflecting the government’s focus on sustainable development and Haryana’s infrastructure transformation.

Union Ministers Inaugurate Skill India Centre in Baghpat

On 24 November 2025, a new Skill India Centre (SIC) was inaugurated in Baraut, Uttar Pradesh by Ministers Ashwini Vaishnaw and Jayant Chaudhary, aiming to provide industry-relevant skill development to rural and semi-urban youth, especially women. The centre will train 600 candidates in electronics, IT-ITeS, and digital operations, operating on a hub-and-spoke model with modern labs and smart classrooms. Implemented by NSDC and Redington Foundation, the initiative promotes Aatmanirbhar Bharat, local employment generation, and prepares a digitally skilled, future-ready workforce, contributing to India’s broader Digital India and skilling ecosystem goals.

Banking News

India’s Growth Momentum Strengthens on Festive Demand & Resilient Consumption: RBI Bulletin

The RBI’s November 2025 Bulletin reports that India’s economy gained momentum in October, driven by strong festive-season demand, resilient rural consumption, and recent GST rate cuts, even as global headwinds persist. While most indicators showed strength, some sectoral variations emerged—electricity demand fell due to weather shifts, diesel consumption dipped, and digital payments moderated. A major highlight was the sharp drop in headline inflation to 0.3%, with core inflation easing to ~4.3%, supported by food-price deflation and favourable base effects. The RBI noted that combined fiscal, monetary, and regulatory measures are fostering a virtuous cycle of investment and growth, although external risks such as high global valuations and trade uncertainty still require close monitoring.

Government Appoints New Executive Directors in Multiple Banks

The Government of India has appointed five new Executive Directors (EDs) across major Public Sector Banks effective 24 November 2025, strengthening leadership in line with ongoing banking reforms. The new appointees include Sunil Kumar Chugh (Canara Bank), Amresh Prasad (Union Bank of India), Prabhat Kiran (Bank of Maharashtra), Mini TM (Indian Bank), and Amit Kumar Srivastava (Punjab National Bank). All will serve three-year tenures, bringing expertise in risk management, credit, operations, and compliance, with the aim of boosting strategic decision-making, governance, and digital transformation across the PSB ecosystem.

Economy News

S&P Forecasts 6.5% GDP Growth for India in FY2025-26

Standard & Poor’s (S&P) projects India’s economy to grow 6.5% in the current fiscal year and 6.7% in the next, citing expected tax cuts and monetary easing to support consumption-driven growth. India’s real GDP expanded 7.8% in Q1, the fastest in five quarters, while the RBI forecasts 6.8% growth for the year. S&P also noted that a potential India-US trade agreement could boost investor confidence and benefit labour-intensive sectors through improved market access and stability.

Sports News

Italy Clinches Fourth Davis Cup Title with Dominant Victory Over Spain

Italy claimed its 4th Davis Cup title and an unprecedented third consecutive championship by defeating Spain 2-0 in the 2025 Davis Cup Final. Matteo Berrettini set the tone with a straight-sets win over Pablo Carreno Busta, followed by a stunning comeback from Flavio Cobolli against Jaume Munar, sealing the victory without needing the doubles match. With this triumph, Italy becomes only the second nation after the USA to achieve a Davis Cup hat-trick, adding to its previous wins in 1976, 2023, and 2024, and solidifying its status as a modern tennis powerhouse.

5th Khelo India University Games Begin at Jaipur’s Sawai Mansingh Stadium

The 5th Khelo India University Games (KIUG) were inaugurated on 24 November 2025 at Sawai Mansingh Stadium, Jaipur, celebrating India’s youth sporting talent and Rajasthan’s cultural heritage. Opened by CM Bhajan Lal Sharma and Union Sports Minister Mansukh Mandaviya, the event will see 7,000 participants, including 5,000+ athletes from 230+ universities, competing across 23 sports from November 24–December 5 in seven Rajasthan cities. Hosting KIUG for the first time, Rajasthan showcases a statewide sporting festival aligned with India’s vision to nurture emerging talent and strengthen the national sports ecosystem.

Science & Technology News

India Launches BIRSA 101: First Indigenous CRISPR Gene Therapy for Sickle Cell Disease

India has launched its first indigenous CRISPR-based gene therapy, BIRSA 101, to treat Sickle Cell Disease (SCD), particularly affecting tribal communities in Chhattisgarh, Madhya Pradesh, Odisha, Jharkhand, and Maharashtra. Unveiled by Science and Technology Minister Dr. Jitendra Singh, the therapy offers a potential one-time cure by correcting the genetic mutation, making treatment affordable compared to costly global alternatives. Developed through public-private partnerships including the Serum Institute of India, BIRSA 101 supports the National Sickle Cell Elimination Mission, aiming to screen, diagnose, and treat millions, and marks a milestone in India’s genomic medicine and tribal health initiatives.

Importamt days News