Asheesh Pandey & Kalyan Kumar Proposed As MD For Union Bank & Central Bank By FSIB

The Financial Services Institutions Bureau (FSIB) has recommended Asheesh Pandey and Kalyan Kumar for the roles of Managing Director (MD) at Union Bank of India and Central Bank of India, respectively.

Pandey will succeed A. Manimekhalai, whose tenure ends next month, and Kumar will succeed M.V. Rao after his retirement in July.

Pandey has over 24 years of experience in banking, covering credit, treasury, foreign transactions, marketing, and operations. He began his career at Corporation Bank in Mumbai and later joined Union Bank of India, where he helped establish the bank’s insurance and mutual fund business. He served as Regional Head for Rajasthan State and led the Credit Monitoring and Restructuring Department, introducing data analytics, predictive modelling, robotic process automation, and machine learning for credit portfolio management. As Chief General Manager and Chief Operations Officer of the merged entity, Pandey led process re-engineering, automation, and digitisation efforts. He guided the implementation of initiatives such as WhatsApp Banking, e-Nomination, Video KYC, digital document execution, robotic automation, doorstep banking, and several operational technology solutions.

Kumar currently serves as Chairman of PNB Gilts Ltd and PNB Cards & Services Ltd and holds Board positions at MDI Society, IIFCL, and NIBSCOM. Since joining Punjab National Bank as Executive Director, he has overseen profit and loss across business, support, and control functions. Kumar leads digital transformation, strategic management, and HR initiatives, including ‘PNB Udaan’ and ‘PNB Palaash’, focusing on growth, sustainability, and operational improvements. He started his career at Union Bank in 1995 and has served in various roles, including branch head, training college principal, and Chief General Manager of HR. Kumar holds a postgraduate degree in science from Rajendra Prasad Agriculture University and is a Certified Associate of the Indian Institute of Bankers (CAIIB), with additional certifications in trade finance, SME finance, IT security, and KYC-AML.

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