FSIB recommends Ashwani Kumar as MD of UCO Bank

Ashwani Kumar rose through ranks serving various offices of five PSBs viz. Bank of Baroda, Corporation Bank, Oriental Bank of Commerce, PNB and Indian Bank.

FSIB, the headhunter for directors of state-owned banks and financial institutions, on Thursday recommended the name of Indian Bank executive director Ashwani Kumar for the post of managing director of UCO Bank.

Prior to joining Indian Bank, Kumar was serving as chief general manager of Mumbai Zone of Punjab National Bank (PNB).

The Financial Services Institutions Bureau (FSIB) interviewed 11 candidates from various public sector banks (PSBs) for the forthcoming positions of MD & CEO in PSBs, the Bureau said in a statement.

"Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends Ashwani Kumar for the position of MD & CEO in UCO Bank vice Soma Sankara Prasad who is completing his tenure on May 31, 2023," it said.

The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi.

FSIB is headed by former secretary, Department of Personnel and Training (DoPT), Bhanu Pratap Sharma.

Other members of the headhunter are Animesh Chauhan, former chairman and MD of erstwhile Oriental Bank of Commerce, RBI's ex-executive director Deepak Singhal, and Shailendra Bhandari, former MD of erstwhile ING Vysya Bank.

Kumar rose through ranks serving various offices of five PSBs viz. Bank of Baroda, Corporation Bank, Oriental Bank of Commerce, PNB and Indian Bank.

His work experience includes working in wholesale banking division and as head of several branches (including Industrial Finance Branches and Licensed Commercial Banks (LCBs)).