Union Bank of India , a prominent player in the Indian banking sector, has announced a significant addition to its leadership team. Shri Amresh Prasad, formerly the Chief General Manager of Punjab National Bank, has been appointed as the new Executive Director of Union Bank of India.

Key Appointment Details

Extensive Banking Experience

Shri Amresh Prasad brings a wealth of experience to his new role at Union Bank of India. With over 32 years in the banking industry, he has developed expertise in several critical areas:

• Corporate credit
• Credit review and monitoring
• Transaction monitoring
• Branch operations

This extensive background positions Shri Prasad well to contribute to Union Bank of India's strategic initiatives and operational excellence.

Appointment Process

The appointment of Shri Amresh Prasad as Executive Director was made by the Central Government, as notified on November 24, 2025. His tenure is set for three years from the date of assuming office, or until he reaches the age of superannuation on October 31, 2028, or until further orders, whichever comes first.

Educational Background

Shri Prasad's educational qualifications include:

• Graduation in Chemistry
• Certified Associate from the Indian Institute of Bankers (CAIIB)

He has also participated in various training and Leadership Development Programs, including:

• Leadership Development Program at SBI L, Kolkata
• Aarohan 2023 FSIB Program conducted by Financial Services Institution

Implications for Union Bank of India

This appointment is expected to bring fresh perspectives and valuable insights to Union Bank of India's executive team. Shri Prasad's extensive experience in various aspects of banking, particularly in corporate credit and monitoring, aligns well with the bank's focus on maintaining a robust financial position and enhancing its service offerings.

As Union Bank of India continues to navigate the evolving landscape of the Indian banking sector, Shri Amresh Prasad's leadership is anticipated to play a crucial role in shaping the bank's strategies and operations in the coming years.

Union Bank of India , a prominent public sector bank, has successfully completed its annual interest payment on bonds, demonstrating its commitment to financial obligations despite a slight delay. The payment, amounting to Rs 174.00 crore, was made on November 24, 2025, two days after the original due date.

Payment Details

Reason for Delay

The bank attributed the two-day delay to the original due date falling on a non-business day. As per standard financial practices, when a payment date occurs on a non-business day, the transaction is typically executed on the next available business day.

Investor Implications

Despite the minor delay, Union Bank of India ensured that the interest was paid to investors based on the beneficiary position as of the record date, November 7, 2025. This approach maintains fairness and transparency in the interest distribution process.

Financial Context

To provide context for this interest payment, it's worth noting some key financial metrics from Union Bank of India's recent balance sheet:

These figures indicate that Union Bank of India has maintained a strong financial position, with notable growth in total assets and shareholder's capital over the past year. The bank's ability to meet its interest payment obligations, barring minor delays due to non-business days, reflects its liquidity management and commitment to bondholders.

This timely interest payment, despite the slight delay, underscores Union Bank of India's dedication to fulfilling its financial commitments and maintaining investor trust in the dynamic banking sector.