BANKING AND ECONOMY
The government has appointed A Manimekhalai as managing director of Union Bank of India and Swarup Kumar Saha as Managing Director and CEO of Punjab & Sind Bank.
The notifications in this regard were issued by the Department of Financial Services. Canara Bank executive director Manimekhalai replaced Rajkiran Rai G, who retired on May 31 after a five-year service. Manimekhalai becomes the first woman managing director of Union Bank of India. Prior to being elevated as ED of Canara Bank, she was General Manager of Vijaya Bank and headed the Bangalore north region.
Saha, who is the executive director of Punjab National Bank (PNB), replaced S Krishnan, who also superannuated on May 31. These separate appointments have been made for an initial period of three years. Saha, a graduate of Science from the University of Calcutta, Kolkata, started his career in banking in the erstwhile Oriental Bank of Commerce.