FSIB was founded by the Central Government to recommend candidates for appointment as directors and non-executive chairman in the Councils of Councils
The government has expanded the term of office of six executive directors (EDS) of various banks in the public sector in a clear signal that it wants stability of a permanent appointment for top bankers, which is responsible for the responsibility to manage the goods of these banks.
The ED’s whose anniversary are 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 Sabo (Central Bank of India)
The office periods of Ranjan, Roy and Saboo as ED have been extended by three years. The other three EDs have an extension of less than two years, until their supernuction ramasubramanian (aout 19 months, paramasivam (approximately 16 months) and Murali Krishna (about 20 months).
The expansion of work periods of EDs in Union Bank of India (Uboi), that is 5 from Indiaone The largest bank in the public sector comes at a crucial moment, because the bank has been without a head since a Manimekhalai, director and chief executive officer (MD & CEO), completed her term of office on 2 June 2025.
In addition, Sanjay Rudra will super cancellation on 30 June 2026 as Ed van Uboi. In June 2025, the government canceled the appointment of March 2024 of Pankaj Dwivedi as Ed van Uboi. So, from the sanctioned power of five whole time directors, Uboi currently has three.
Central Bank of India (CBOI) is also without a head after Matam Venkat Rao Superannuated as MD & CEO on July 31, 2025. Vivek Wahi, Ed, CBOI, will this monthly end of Superannuen.
In May 2025, the Financial Services Institutions Bureau (FSIB) advised 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 about these recommendations.
Last week the government extended the term of office of Ajay Kumar Srivastava as director and chief executive officer of Indian Overseas Bank (IOB) with effect from January 1, 2026.
Last month, FSIB said that it came together with 80 candidates from various nationalized banks in July 19 – August 4, 2025 for the positions of ED’s in nationalized banks. It advised 11 candidates in the ED panel for FY26.
FSIB was founded by the Central Government to recommend candidates for appointment as directors and non-executive chairman in the councils of councils of financial services boards.
Published on September 16, 2025
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