Strengthening Leadership: New Executive Directors in Indian Public Sector Banks

Government Appoints New Executive Directors in Public Sector Banks

In a significant move, the Government of India has appointed five new Executive Directors (EDs) across leading Public Sector Banks (PSBs) to strengthen the management and operational leadership. The appointments took effect on November 24, 2025, and each is set for a three-year tenure. This reshuffle reflects the government’s continued push for performance-oriented leadership in public sector banking, in line with broader reforms to improve governance and efficiency.

New Executive Director Appointments

• Sunil Kumar Chugh – Canara Bank
  Previously Chief General Manager (CGM) at Punjab National Bank, Chugh has been appointed as ED at Canara Bank. He brings a wealth of experience in banking operations, compliance, and financial management.
• Amresh Prasad – Union Bank of India
  Also a CGM at Punjab National Bank, Prasad will now serve as ED at Union Bank of India, enhancing the leadership bench at one of India’s key state-run banks.
• Prabhat Kiran – Bank of Maharashtra
  Kiran, currently serving as CGM in Canara Bank, has been elevated to Executive Director at Bank of Maharashtra, bringing deep insight from his previous roles in credit and corporate banking.
• Mini TM – Indian Bank
  Mini TM, CGM at Bank of Baroda, has been appointed as ED at Indian Bank. With decades of experience in branch operations and retail banking, she is expected to add value to Indian Bank’s transformation strategy.
• Amit Kumar Srivastava – Punjab National Bank
  Srivastava, who was the Group Chief Risk Officer at PNB, has now been promoted as Executive Director in the same bank. His background in risk and compliance aligns well with the growing importance of prudent risk governance in banking.

Appointment Details

Effective Date: November 24, 2025
Tenure: Three years
Appointing Authority: Government of India (Ministry of Finance)
Banks Involved: Canara Bank, Union Bank of India, Punjab National Bank, Indian Bank, Bank of Maharashtra

Significance of These Appointments

These leadership changes are expected to:

• Strengthen strategic decision-making at the executive level
• Support the implementation of reform initiatives in public sector banks
• Enhance risk management and credit oversight across institutions
• Drive forward digital and retail banking reforms

With ongoing challenges such as NPAs, regulatory compliance, and digital transformation, these appointments are critical for maintaining institutional stability and policy continuity.