Reserve Bank of India (RBI) has approved the appointment of R Vijay Anandh as the new Managing Director and Chief Executive Officer (MD & CEO) of City Union Bank. The decision was communicated through an RBI letter dated February 9, 2026, and the appointment will take effect from May 1, 2026. This marks a leadership transition at one of India’s prominent private sector banks.
RBI Approval for Vijay Anandh as MD & CEO
- The Reserve Bank of India has granted approval for R Vijay Anandh to take charge as MD & CEO of City Union Bank for a three-year term starting May 1, 2026.
- The bank disclosed this information through an exchange filing. The appointment, however, will be subject to the approval of shareholders, as per regulatory norms governing senior management appointments in banks.
Remuneration Approved by RBI
- According to RBI’s approval letter, Vijay Anandh’s remuneration has been fixed at ₹2.50 crore per annum, including perquisites.
- The pay structure is a fixed compensation, aligning with RBI guidelines on executive remuneration in private sector banks.
- This clarity on compensation reflects regulatory emphasis on transparency and governance in bank leadership appointments.
Professional Experience of R Vijay Anandh
- R Vijay Anandh brings with him over 28 years of banking experience, spanning risk management, portfolio analysis, credit appraisal, and retail banking.
- Before joining City Union Bank, he worked at RBL Bank as Business and Collections
- Head for Retail Asset Products, where he closely worked with the bank’s top leadership.
- His wide exposure across banking functions positions him well to lead CUB in a competitive financial environment.
Career Growth Within City Union Bank
- Vijay Anandh joined City Union Bank as Executive President in 2023 and was elevated to the role of Executive Director (ED) in 2024.
- His internal progression reflects the bank’s focus on leadership continuity and institutional knowledge.
- His appointment as MD & CEO ensures a smooth transition and stability in management, which is often viewed positively by regulators and investors.
Outgoing MD & CEO and Leadership Transition
- The current MD & CEO, N Kamakodi, has been serving City Union Bank since May 2011.
- His tenure will conclude on April 30, 2026, marking nearly 15 years of leadership.
- The appointment of Vijay Anandh ensures that the leadership transition is planned well in advance, maintaining operational continuity.
City Union Bank and RBI’s Role
- City Union Bank is one of India’s oldest private sector banks, with a strong regional presence and a focus on retail and MSME banking.
- The RBI, as the banking regulator, plays a critical role in approving senior management appointments to ensure financial stability, governance standards, and depositor confidence. Such approvals are closely watched in banking-related current affairs.
Question
Q. Who has been approved by the RBI as the new MD & CEO of City Union Bank from May 2026?
A. N Kamakodi
B. R Vijay Anandh
C. Sashidhar Jagdishan
D. Murali Natarajan