UCO Bank has announced the elevation of three General Managers to Chief General Manager positions, effective April 1, 2026. The bank disclosed this senior management change through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Senior Management Promotions

The three executives promoted to Chief General Manager positions bring extensive banking experience and diverse educational backgrounds to their enhanced roles:

Leadership Strengthening Initiative

The promotions reflect UCO Bank's strategy to strengthen its senior management team with experienced professionals who have demonstrated expertise across various banking functions. Mr. Saroj Ranjan Nayak brings technical expertise with his engineering background and specialized certifications in information security management and systems auditing.

Mr. Prem Shankar Jha contributes business management expertise through his MBA qualification combined with nearly two decades of banking experience. His educational background in arts and business administration provides a well-rounded perspective for senior management responsibilities.

Technical and Risk Management Expertise

Mr. Avinash Shukla's promotion adds significant technical and risk management capabilities to the Chief General Manager level. His Master of Computer Applications degree, combined with certifications in information systems auditing and risk management, positions him well for addressing the bank's digital transformation and risk management requirements.

The three executives collectively hold multiple professional certifications from recognized institutions, including the Certified Associate of Indian Institute of Bankers (CAIIB) qualification, which all three possess. Additional specialized certifications in information security, systems auditing, and risk management demonstrate their commitment to professional development in critical banking areas.

Regulatory Compliance and Disclosure

The announcement was formally communicated to both the National Stock Exchange of India Ltd. and BSE Limited, maintaining transparency with stakeholders and regulatory compliance. Company Secretary Vikash Gupta signed the disclosure document, ensuring proper corporate governance procedures were followed for this senior management change.

UCO Bank successfully conducted its Extraordinary General Meeting (EGM) on March 16, 2026, securing overwhelming shareholder approval for key governance decisions through video conferencing. The meeting, attended by 23 members including one authorized representative of the Government of India, addressed critical board appointments and tenure extensions with comprehensive voting procedures.

Meeting Overview and Proceedings

The EGM commenced at 11:00 AM on March 16, 2026, conducted through Video Conference/Other Audio-Visual Means (VC/OAVM) in compliance with applicable SEBI regulations. Shri Aravamudan Krishna Kumar, Non-Executive Chairman, presided over the meeting, while Company Secretary Vikash Gupta provided procedural guidance to shareholders.

Executive Director Tenure Extension Approved

The primary agenda item involved approving the extension of Shri Rajendra Kumar Saboo's tenure as Executive Director for an additional three years. Saboo was initially appointed on November 21, 2022, for a three-year term that concluded on November 20, 2025. The Central Government subsequently extended his tenure for another three years, requiring shareholder approval under SEBI (LODR) Regulations, 2015.

The resolution received overwhelming support from shareholders, with 579 participants casting votes through both remote e-voting and during the meeting.

Shareholder Director Appointment

A significant development occurred regarding the Shareholder Director position, where the election process was streamlined due to a single nomination. Rajesh Kumar Ailawadi emerged as the sole nominee for the Shareholder Director position, eliminating the need for a contested election.

The Nomination and Remuneration Committee deemed Ailawadi fit and proper under Reserve Bank of India (Commercial Banks - Governance) Directions, 2025, dated November 28, 2025. Consequently, he was deemed elected and assumed office on March 8, 2026.

Scrutinizer Report and Compliance Framework

S. N. Ananthasubramanian & Co. Company Secretaries served as the appointed scrutinizer, ensuring fair and transparent voting processes. The comprehensive scrutinizer report confirmed the validity of all votes cast and successful passage of the ordinary resolution with requisite majority.

The bank ensured comprehensive shareholder participation through multiple voting mechanisms, with remote e-voting available from March 12-15, 2026 (9:00 AM to 5:00 PM), while e-voting during the meeting provided additional opportunities for participation. The meeting concluded at 11:25 AM after all procedural requirements were fulfilled, with the scrutinizer's report confirming regulatory compliance under SEBI LODR Regulations.