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Govt extends tenure of 8 EDs in various public sector banks

AnyFans 2025-09-20

By Our Bureau

The government has extended the tenures of eight executive directors (EDs) of various public sector banks in a clear signal that it wants stability of tenure for top bankers, who are charged with the responsibility of managing the affairs of these banks.

The EDs whose tenures have been extended are: Nitesh Ranjan and Ramasubramanian S (both Union Bank of India), M Paramasivam (Punjab National Bank), Joydeep Dutta Roy (Indian Overseas Bank), Malladi Venkat Murali Krishna (Central Bank of India), Rajendra Kumar Saboo (UCO Bank) and Lalit Tyagi and Sanjay Vinayak Mudaliar (both Bank of Baroda).

The tenures of Ranjan, Roy, Saboo and Tyagi as ED have been extended by three years. Mudaliar has got an extension of about 31 months, till his superannuation. The other three EDs have got an extension of less than two years, till their superannuation — Ramasubramanian (aout 19 months, Paramasivam (about 16 months) and Murali Krishna (about 20 months).

The extension of tenures of EDs in Union Bank of India (UBoI), which is India’s 5th largest public sector bank, comes at a crucial time as the Bank has been headless since A Manimekhalai, Managing Director & Chief Executive Officer (MD & CEO), completed her tenure on June 02, 2025.

Moreover, Sanjay Rudra will superannuate as ED of UBoI on June 30, 2026. In June 2025, the Government cancelled the March 2024 appointment of Pankaj Dwivedi as ED of UBoI. So, out of the sanctioned strength of five whole-time directors, UBoI currently has three.

Central Bank of India (CBoI) too is headless after Matam Venkat Rao superannuated as MD & CEO on July 31, 2025. Vivek Wahi, ED, CBoI, will be superannuating this month-end.

In May 2025, the Financial Services Institutions Bureau (FSIB) recommended Asheesh Pandey (ED, Bank of Maharashtra) and Kalyan Kumar (ED, Punjab National Bank) for the vacancy of MD & CEO in Union Bank of India and Central Bank of India, respectively. But there has been no forward movement on these recommendations.

Last week, the government extended Ajay Kumar Srivastava’s tenure as Managing Director and Chief Executive Officer of Indian Overseas Bank (IOB) for about 21 months with effect from January 01, 2026.

Last month, FSIB said it interfaced with 80 candidates from various nationalised banks during July 19 – August 04, 2025 for the positions of EDs in Nationalised Banks. It recommended 11 candidates in the ED Panel for FY26.

FSIB has been set up by the Central government to recommend candidates for appointment as whole-time directors and non-executive chairpersons on the Boards of financial services institutions.

Published on September 16, 2025