Union Bank of India , one of India's leading public sector banks, has announced a significant change in its board composition. The bank has appointed Shri Rohan Chand Thakur as the new Government Nominee Director, effective July 24, 2025. This appointment comes as a replacement for Shri Sameer Shukla, who previously held the position.

New Director's Profile

Shri Rohan Chand Thakur brings a wealth of experience to his new role at Union Bank of India. He is a distinguished Indian Administrative Service (IAS) officer from the 2009 batch of the Himachal Pradesh Cadre. At the time of his appointment, Thakur was serving as Director in the Ministry of Finance, Department of Financial Services, Government of India.

Educational Background

Thakur's educational credentials are impressive:

• Economics graduate from St. Stephen's College, Delhi
• Postgraduate in Management from IIM Ahmedabad
• Chevening Gurukul Fellow from the University of Oxford
• Master of Public Administration from Harvard Kennedy School, Harvard University

Professional Experience

With over 15 years of experience in various governmental roles, Thakur's career highlights include:

• District Commissioner of Hamirpur and Shimla
• Director in the Department of Information Technology
• Managing Director of Skill Development & Entrepreneurship Department
• Managing Director of Himachal Pradesh Financial Corporation
• Excise and Taxation Commissioner
• Managing Director of Himachal Road Transport Corporation

Appointment Details

The Central Government issued the notification for Thakur's appointment on July 24, 2025. As per the notification, his tenure begins immediately and will continue until further orders. This appointment is in line with Section 9(3)(b) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.

Shareholder Approval

Union Bank of India has added this appointment as a new agenda item for shareholder approval at its upcoming 23rd Annual General Meeting, scheduled for August 1, 2025. The bank has issued an addendum to the original AGM notice, including this as Item No. 6 under Special Business.

Independence and Compliance

The bank has confirmed that Shri Rohan Chand Thakur has no existing relationships with other directors of Union Bank of India. Additionally, he holds no shares in the bank, ensuring his independence in the role. The bank also stated that Thakur is not debarred from holding the office of Director by any order of SEBI or any other authority.

This strategic appointment is expected to bring fresh perspectives to Union Bank of India's board, leveraging Thakur's extensive experience in public administration and finance. As the banking sector continues to evolve, such appointments play a crucial role in shaping the future direction of public sector banks in India.

Union Bank of India , one of the country's leading public sector banks, has reported a robust financial performance for the first quarter of the fiscal year. The bank's net profit saw a significant year-on-year increase, accompanied by revenue growth and improved asset quality.

Profit and Revenue Growth

Union Bank recorded a net profit of ₹4,100.00 crore in Q1, marking a substantial 11.7% increase from ₹3,670.00 crore in the same period last year. This growth in profitability underscores the bank's resilience and effective strategies in a challenging economic environment.

The bank's revenue also showed positive momentum, rising to ₹27,290.00 crore from ₹26,360.00 crore year-on-year. This 3.5% growth in revenue indicates the bank's ability to expand its business activities and income streams.

Improved Asset Quality

One of the highlights of Union Bank's Q1 performance is the improvement in its asset quality metrics:

• Gross Non-Performing Assets (GNPA): Declined to 3.52% from 3.60% quarter-on-quarter
• Net Non-Performing Assets (NNPA): Slightly decreased to 0.62% from 0.63% quarter-on-quarter

This reduction in both GNPA and NNPA ratios reflects the bank's effective risk management strategies and efforts to maintain a healthy loan book.

Performance Overview

Here's a summary of Union Bank's Q1 FY performance:

The bank's performance in Q1 demonstrates its ability to grow profitably while simultaneously improving its asset quality. The significant increase in net profit, coupled with the growth in revenue, positions Union Bank favorably in the competitive banking sector.

The reduction in GNPA and NNPA ratios, albeit slight, is a positive indicator of the bank's risk management and recovery efforts. This improvement in asset quality could potentially lead to lower provisioning requirements in the future, further boosting the bank's profitability.

As Union Bank continues to navigate the dynamic financial landscape, its Q1 results suggest a strong start to the fiscal year, setting a positive tone for the quarters ahead.