Union Bank of India has announced a key senior management change with the elevation of Shri Sarvesh Ranjan to the position of Chief General Manager, effective February 01, 2026. The announcement was made under Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Management Transition Details

The elevation follows the superannuation of Shri Bhaskara Rao Kare, who served as Chief General Manager until January 31, 2026. Ranjan, currently serving as General Manager, will step into this senior role as part of the bank's management succession planning.

Professional Background

Shri Sarvesh Ranjan brings extensive banking expertise to his new role, with approximately three decades of experience in the banking sector. He is an engineering graduate who currently holds the position of General Manager for Central Reconciliation, Transaction Monitoring & AML at the bank.

His career trajectory spans various banking functions and organizational levels:

• Branch Banking operations
• Regional and Zonal Office positions
• Staff Training College assignments
• Corporate Office roles

Leadership Development and Certifications

Ranjan has invested significantly in professional development and specialized training programs. His educational achievements include:

• Leadership development program on capacity building from University of Applied Sciences, Switzerland
• Focused leadership development programme from ISB Hyderabad
• Certification programme in IT and Cyber Security from IDRBT, Hyderabad

These qualifications position him well for the strategic responsibilities associated with the Chief General Manager role, particularly in areas of technology, security, and organizational leadership.

Regulatory Compliance

The bank has fulfilled its disclosure obligations by announcing this senior management change in accordance with SEBI regulations. Such announcements are mandatory for listed companies to ensure transparency regarding key personnel changes that may impact business operations and stakeholder interests.

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.