(THE NEWSMAN OF INDIA.COM) | Feature Report|
In a notable move toward strengthening leadership at the helm of Public Sector Banks (PSBs), the Financial Services Institutions Bureau (FSIB) has finalized its recommendations for the coveted posts of Managing Director & Chief Executive Officer (MD & CEO) for the financial year 2025–26.

Following a rigorous selection process, the FSIB interfaced with 23 seasoned banking professionals from various PSBs between May 27 and May 30, 2025. The evaluation included comprehensive interactions focusing on candidates’ strategic vision, leadership acumen, regulatory understanding, risk management insight, and experience in driving growth and digital transformation in the Indian banking landscape.

Based on the overall performance during the interface, cumulative experience in the banking sector, and alignment with the current and emerging challenges in public sector banking, the FSIB has made the following key recommendations:

Asheesh Pandey has been recommended for the post of MD & CEO of Union Bank of India. Known for his strategic leadership and deep operational insight, Pandey has held critical roles in retail and corporate banking, digital banking initiatives, and institutional restructuring. His proven track record in driving innovation and inclusive banking is expected to bolster Union Bank’s growth trajectory in the coming years.

Kalyan Kumar has been recommended for the position of MD & CEO of Central Bank of India. Kumar brings with him a wealth of experience in core banking operations, HR transformation, and technology integration. His leadership is expected to provide the strategic direction needed for Central Bank of India as it continues its journey of consolidation and modernization.

These recommendations mark an important milestone in the ongoing efforts to professionalize and empower leadership within India’s public sector banking ecosystem. The final appointments will be subject to requisite approvals from the Appointments Committee of the Cabinet (ACC).

The FSIB’s rigorous selection methodology underscores the government’s commitment to transparency, meritocracy, and performance-driven leadership in public sector financial institutions.

As the banking sector navigates complex economic landscapes and increasing digitization, strong and visionary leadership will be crucial. The appointments of Asheesh Pandey and Kalyan Kumar are expected to infuse fresh energy and strategic clarity in their respective institutions, further reinforcing the role of PSBs in driving financial inclusion and economic growth.