Govt. appoints A. Manimekhalai as MD of Union Bank of India

The government has appointed A. Manimekhalai as Managing Director of Union Bank of India and Swaroop Kumar Saha as head of Punjab & Sind Bank.

The notifications in this regard were issued by the Department of Financial Services earlier in the day, sources said.

Canara Bank Executive Director Ms. Manimekhalai replaced Rajkiran Rai G., who retired on May 31 after a five-year stint. With her assuming charge, Ms. Manimekhalai becomes the first woman managing director of Union Bank of India.

Ms. Manimekhalai, a Master of Business Administration degree holder from Bangalore University, joined erstwhile Vijaya Bank as Officer in 1988.

Prior to being elevated as ED of Canara Bank, she was General Manager of Vijaya Bank and headed the Bangalore north region.

She was instrumental in devising and implementing strategic policies, covering core areas like strategic planning, setting organisational goals, growth strategies, action plans, compliance, internal control, etc, Union Bank of India said in a statement.

Mr. Saha, who is the executive director of Punjab National Bank (PNB), will replace S. Krishnan, who also superannuated on May 31.

The Banks Board Bureau (BBB), the headhunter for directors of State-owned banks and financial institutions, had recommended their names for appointment in March.

Mr. Saha, a graduate of Science from the University of Calcutta, Kolkata, started his career in banking in the erstwhile Oriental Bank of Commerce in the year 1990 as Probationary Officer.

These separate appointments have been made for an initial period of three years.