UCO Bank has confirmed that Mr. Rajesh Kumar Ailawadi has officially assumed the office of Shareholder Director effective March 8, 2026, following his deemed election after receiving a single nomination for the position. The bank notified stock exchanges on March 9, 2026, confirming the appointment and providing comprehensive details about the new director's background.

Director Appointment and Term Details

The appointment follows the bank's earlier announcement of Mr. Ailawadi's deemed election after only one nomination was received by the February 27, 2026 deadline. The bank's Nomination and Remuneration Committee of the Board accorded "Fit and Proper" status to Mr. Ailawadi in accordance with Reserve Bank of India regulations.

Professional Background and Experience

Mr. Ailawadi brings extensive experience from his distinguished career with Life Insurance Corporation of India, where he retired as Executive Director (Legal) on December 31, 2025. His educational qualifications include a Bachelor of Science degree from Kirori Mal College and a Bachelor of Laws degree from Campus Law Centre, both affiliated with the University of Delhi.

Regulatory Compliance and Election Process

Since only one valid nomination was received for the single vacancy and the candidate was found "Fit and Proper," Mr. Ailawadi was deemed elected as Shareholder Director under Regulation 66(i) of the UCO Bank (Shares and Meetings) Regulations, 2003. The appointment was made in terms of Section 9(3)(i) of the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970.

Impact on Extraordinary General Meeting

Due to the uncontested election, Agenda item no. 1 relating to the election of one Shareholder Director was not transacted at the Extraordinary General Meeting scheduled for March 16, 2026. The EGM proceeded with the remaining agenda items as planned through Video Conference and Other Audio-Visual Means.

UCO Bank has issued a formal notice to stock exchanges regarding a potential strike that could disrupt its operations on February 12, 2026. The bank informed the National Stock Exchange and BSE Limited about the strike call given by three major banking unions.

Strike Details and Union Involvement

The Department of Financial Services (DFS), Ministry of Finance, Government of India has communicated that three prominent banking unions have called for a strike on Thursday, February 12, 2026. The participating unions include:

• All India Bank Employees' Association (AIBEA)
• Bank Employees' Federation of India (BEFI)
• All India Bank Officers' Association (AIBOA)

The strike has been called in support of the broader strike call given by Central Trade Unions, indicating coordinated action across the banking sector.

Bank's Preparatory Measures

UCO Bank has acknowledged the potential impact on its operations and stated that it is taking necessary steps to ensure smooth functioning of its branches and offices during the strike day. However, the bank has cautioned that despite these preparatory measures, the functioning of branches and offices may still be affected if the strike materializes as planned.

Regulatory Compliance

The notification was issued under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to disclose material events that could impact their operations or stakeholder interests. The notice was signed by Company Secretary Vikash Gupta and dated February 11, 2026.

The advance notice allows customers and stakeholders to plan accordingly for potential service disruptions on the specified date. The bank's proactive communication demonstrates its commitment to transparency and regulatory compliance while preparing contingency measures to minimize operational impact.