New Delhi: The Appointments Committee of the Cabinet (ACC) has approved the appointment of Indian Bank's Executive Director Ashwani Kumar for the post of Managing Director & Chief Executive Officer (MD&CEO) of UCO Bank.

According to an order issued from the Department of Personnel & Training (DoPT), the ACC has approved the proposal of the Department of Financial Services for the appointment of Kumar for a period of three years with effect from the date of assumption of office on or after June 1, 2023, or until further orders, whichever is earlier. He has been serving as Executive Director in Indian Bank since October 21, 2021.

Kumar is Chartered Accountant, Post Graduate in Commerce and also a Certified member of Indian Institute of Bankers. He has rich banking experience of more than two decades. Prior to joining as Executive Director of Indian Bank, he was serving as Chief General Manager of Mumbai Zone of Punjab National Bank.

Kumar rose through ranks serving various offices of four Public Sector Banks viz. BOB, Corporation Bank, OBC and PNB. His work experience includes working in Wholesale Banking division and as Head of several Branches (including Industrial Finance Branches and LCBs). As General Manager, he was heading Mid Corporate and Large Corporate verticals and was also CFO.

As a vivid learner, he has attended various training programs in premier institutes in India and abroad including IIM and CAFRAL. He has also completed Leadership Development Programme of IIM Bangalore, curated by the Banks Board Bureau in consultation with IBA and Egon Zehnder International Pvt. Ltd.

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