Union Bank of India , one of India's leading public sector banks, has announced significant changes in its senior leadership continuity. The Department of Financial Services, Ministry of Finance, Government of India has extended the terms of office for two Executive Directors of Union Bank of India.

Extension Details

According to notifications from the Ministry of Finance:

1. Shri Nitesh Ranjan's term has been extended for an additional three years beyond his current term ending on March 9, 2026. The extension will be effective from that date or until further orders, whichever is earlier.

2. Shri Ramasubramanian S.'s term, originally scheduled to end on November 20, 2025, has been extended until his superannuation on June 30, 2027, or until further orders, whichever is earlier.

Official Announcements

The bank officially disclosed this information to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The announcement regarding Shri Nitesh Ranjan was made on September 16, 2025, through a formal letter signed by Mangesh Mandrekar, the Company Secretary of Union Bank of India. The extension for Shri Ramasubramanian S. was announced through a government notification dated September 15, 2025.

Implications for Union Bank

These extensions of the Executive Directors' terms are significant moves for Union Bank of India. They ensure continuity in the bank's senior leadership, which can be crucial for maintaining consistent strategies and operations. The decisions by the Ministry of Finance suggest confidence in the leadership and contributions of both Shri Nitesh Ranjan and Shri Ramasubramanian S. to the bank.

About Union Bank of India

Union Bank of India is a major public sector bank in India, with its headquarters located in Mumbai. The bank has a significant presence across the country and offers a wide range of banking and financial services to its customers.

Investor Relations

Union Bank of India has scheduled an Investor/Analyst Meet with Angel One Investment Managers & Advisors Private Limited on September 19, 2025. This demonstrates the bank's commitment to maintaining open lines of communication with the investment community.

Union Bank of India , one of India's leading public sector banks, held its 23rd Annual General Meeting (AGM) on August 1, 2025, through video conferencing. The meeting saw several key decisions and approvals that are set to shape the bank's future trajectory.

Dividend Declaration and Financial Statements

Shareholders at the AGM approved the audited standalone and consolidated financial statements for the fiscal year ending March 31, 2025. In a move that will please investors, the bank declared a dividend of Rs 4.75 per equity share for the financial year 2024-25.

Capital Raising Approval

A significant development from the meeting was the shareholders' approval for raising capital aggregating to Rs 6,000.00 crore. This substantial capital infusion is expected to bolster the bank's financial position and support its growth initiatives.

Leadership Changes and Appointments

The AGM also saw several important appointments and changes in the bank's leadership:

1. Shri Suraj Srivastava was appointed as a Part-Time Non-Official Independent Director.
2. Shri Rohan Chand Thakur was nominated as the Government Nominee Director.
3. M/s Ragini Chokshi & Co., Company Secretaries, were appointed as the Secretarial Auditor for a two-year term from FY 2025-26 to FY 2026-27.

Chairman's Address

The Chairman of Union Bank of India addressed the shareholders, providing insights into various aspects of the bank's operations and future outlook. Key points from the address included:

• An overview of the macro-economic situation
• The current banking environment
• The bank's business financials
• Digital initiatives undertaken by the bank
• The bank's approach to Environment, Social, and Governance (ESG) matters

Meeting Proceedings and Voting

The AGM, which commenced at 11:00 AM and concluded at 1:10 PM, saw active participation from shareholders. All six agenda items presented at the meeting were passed with the requisite majority through e-voting.

Senior Management Change

In a separate announcement, Union Bank of India informed that Shri Chander Mohan Minocha, Chief General Manager, superannuated from the bank's services on July 31, 2025. Consequently, Shri Vipan Singh, previously a General Manager, has been elevated to the post of Chief General Manager effective August 1, 2025.

Shri Singh, who holds an MBA and is a Certified Associate of the Indian Institute of Banking (CAIIB), brings over 28 years of diverse banking experience to his new role. His expertise spans various positions across branch banking, regional and zonal offices, and the corporate office. Prior to this promotion, he headed the bank's Jaipur Zone.

The 23rd AGM of Union Bank of India marks a significant milestone for the bank, with key decisions on dividend, capital raising, and leadership changes setting the stage for its future growth and development in the evolving banking landscape.