Union Bank of India Appoints Dr. Debasish Prusty as Government Nominee Director
Union Bank of India has appointed Dr. Debasish Prusty, Additional Secretary in the Department of Financial Services, as its Government Nominee Director effective May 13, 2026, replacing Shri Rohan Chand Thakur. Dr. Prusty is an IAS officer with over 26 years of experience in Public Finance, Sustainable Development, and Environmental Governance, and has represented India at UNFCCC negotiations. He holds a PhD from Manipal University Jaipur and an MPhil in Environmental Sciences from Jawaharlal Nehru University.
*this image is generated using AI for illustrative purposes only.
Union Bank of India has announced the appointment of Dr. Debasish Prusty as its Government Nominee Director, effective May 13, 2026. The disclosure was made in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointment was communicated to stock exchanges on May 14, 2026.
Appointment Details
The Central Government, vide notification no. eF. No. 6/2(v)/2022-BO.I dated May 13, 2026, appointed Dr. Debasish Prusty as Government Nominee Director of the Bank with immediate effect and until further orders, in place of Shri Rohan Chand Thakur. The key details of the appointment are summarised below:
| Parameter: | Details |
|---|---|
| Name: | Dr. Debasish Prusty |
| Designation: | Government Nominee Director |
| Reason for Change: | Appointment of New Director |
| Date of Appointment: | May 13, 2026 |
| Tenure: | From May 13, 2026, until further orders |
| Replacing: | Shri Rohan Chand Thakur |
Profile of Dr. Debasish Prusty
Dr. Debasish Prusty is a member of the Indian Administrative Service, currently serving as Additional Secretary in the Department of Financial Services, Union Ministry of Finance, Government of India. He brings more than 26 years of experience in designing and implementing policies across the areas of Public Finance, Sustainable Development, Development Cooperation, and Environmental and Urban Governance.
Dr. Prusty has played a significant role in India's international engagements on climate and finance. He contributed to India's initiative for collaboration and partnership with various countries to launch the International Solar Alliance (ISA) platform in 2015, during his tenure as Director in the Climate Change Division of the Ministry of Environment, Forest and Climate Change. He has also represented India's negotiating team in international negotiations at the Conference of Parties held under the United Nations Conference on Climate Change (UNFCCC) and was a member of the Standing Committee on Finance of the UNFCCC in 2016.
His academic credentials include:
- Doctor of Philosophy from the Management Department, Manipal University Jaipur
- Master of Philosophy in Environmental Sciences from Jawaharlal Nehru University, Delhi
- Training from the International Monetary Fund (IMF) in Finance for Macro-economists
Disclosure of Relationships and Regulatory Compliance
As per the regulatory disclosure, Dr. Debasish Prusty does not have any relationship with any of the existing Directors of Union Bank of India. Additionally, he is not debarred from holding the office of Director by virtue of any order of SEBI or any other such authority. The appointment has been duly communicated to BSE Ltd. and the National Stock Exchange of India Ltd. in accordance with applicable listing regulations.
Historical Stock Returns for Union Bank of India
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.80% | -3.19% | -12.31% | +6.01% | +20.02% | +332.99% |
How might Dr. Prusty's background in sustainable development and climate finance influence Union Bank of India's ESG lending strategy and green financing initiatives?
Could Dr. Prusty's strong ties to the Department of Financial Services signal a shift in the government's policy priorities for public sector banks like Union Bank of India?
How might this leadership change at the board level impact Union Bank of India's upcoming capital raising plans or strategic decisions in the near term?
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