New Delhi, Sep 30 : The government has cleared the appointment of Asheesh Pandey as Managing Director and Chief Executive Officer of Union Bank of India, and Kalyan Kumar as the new head of Central Bank of India. Both appointments are for a period of three years.

The Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi, approved the appointments.

Pandey, who is currently serving as Executive Director of Bank of Maharashtra, will take charge as MD and CEO of Union Bank of India for a three-year term from the date he assumes office.

Similarly, Kalyan Kumar, Executive Director of Punjab National Bank, will step in as MD and CEO of Central Bank of India after the superannuation of incumbent M.V. Rao in July.

The Financial Services Institutions Bureau (FSIB) had recommended Pandey and Kumar for these top positions on May 30. The bureau is headed by former Department of Personnel and Training Secretary, Bhanu Pratap Sharma.

Earlier, the government appointed Shirish Chandra Murmu as a Deputy Governor of the Reserve Bank of India for a tenure of three years.

Murmu's appointment was also approved by the Appointments Committee of the Union Cabinet and would come into effect from October 9. He will replace M. Rajeshwar Rao, whose extended service is set to end on October 8.

Currently, he is serving as Executive Director at the RBI, looking after the Department of Supervision.

According to the law, the RBI should have four Deputy Governors: one from the commercial banking system, two from within the bank, and an economist.

The other Deputy Governors are Swaminathan J, Poonam Gupta, and T. Rabi Sankar.

Rao has been in the position for five years. In 2020, he was appointed Deputy Governor for a three-year term. In 2023 and 2024, he was given two one-year extensions.

/IANS