Union Bank of India has successfully completed the redemption of bonds valued at ₹222,89,65,000 on January 29, 2026, through the exercise of a call option. The public sector bank announced the completion of this significant financial transaction in its regulatory filing under SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Bond Redemption Details

The redemption involved 205 Non-Convertible Debentures (NCDs) under ISIN INE692A08136, representing a complete closure of this bond series. The bank executed the redemption precisely on the scheduled due date, demonstrating its commitment to timely debt servicing.

Payment Structure and Compliance

The redemption amount of ₹222,89,65,000 includes both principal and coupon components, providing complete settlement to bondholders. The bank processed payments according to investor mandates and beneficiary positions as per the relevant record date. The last interest payment on these bonds was made on January 29, 2025, exactly one year prior to the redemption date.

Regulatory Framework

Union Bank of India submitted this disclosure in compliance with Regulation 57 of SEBI regulations, which mandates timely reporting of interest payments and redemptions. The bank confirmed that applicable Tax Deducted at Source (TDS) has been deducted from the payments as per regulatory requirements.

Transaction Completion

The successful redemption demonstrates the bank's financial discipline and adherence to debt servicing schedules. With the outstanding amount now standing at nil, this bond series has been completely retired from the bank's debt portfolio. The redemption was executed on a lot basis, ensuring systematic and organized settlement for all bondholders.

This transaction reflects Union Bank of India's continued focus on maintaining strong investor relations and regulatory compliance in its debt management operations.

Union Bank of India has announced a significant leadership change in its finance department, appointing CA Dhirendra Jain as the new Chief Financial Officer (CFO) effective February 01, 2026. The appointment comes following the resignation of the current CFO, CA Avinash Vasant Prabhu, who will be relieved from his position on January 31, 2026.

Leadership Transition Details

The bank has made this announcement in compliance with Regulation 30 and Regulation 51 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The transition represents a seamless handover with no gap between the outgoing and incoming CFO.

New CFO Profile and Experience

CA Dhirendra Jain, aged 51 years, brings extensive experience to his new role as CFO. He is a qualified Chartered Accountant with more than 28 years of experience in the finance sector. Currently serving as General Manager - Finance and Accounts at Union Bank of India, Jain has demonstrated his capabilities across various banking functions.

His professional background includes:

• Rich banking experience in Credit - Large Corporate
• Leadership roles as Regional Head and Zonal Head
• Post Graduate qualification in Commerce
• Certified Associate from Indian Institute of Bankers (CAIIB)

Outgoing CFO's Departure

CA Avinash Vasant Prabhu submitted his resignation letter dated December 15, 2025, citing personal reasons for his departure. In his resignation letter, Prabhu expressed gratitude for the opportunities provided during his tenure of more than two years with the bank. He acknowledged the experience gained and achievements made during his period as CFO.

Corporate Governance Compliance

The announcement was made through a formal communication dated January 28, 2026, addressed to both BSE Limited and National Stock Exchange of India Limited. The board meeting to approve this appointment was conducted on the same day, starting at 06:15 P.M. and concluding at 08:10 P.M.

The bank has ensured full compliance with regulatory requirements by providing detailed information about the leadership change, including the reason for transition, appointment date, and comprehensive profile of the new CFO. This transition reflects the bank's commitment to maintaining strong financial leadership and ensuring continuity in its operations.