The Government of India on June 2 appointed Canara Bank executive director A. Manimekhalai as the new managing director and chief executive officer (MD & CEO) of Union Bank of India for a period of three years.
- Manimekhalai took charge with immediate effect and become the only serving woman CEO in public sector banks (PSBs).
- In March 2022, the Banks Board Bureau (BBB) had recommended her name for the position of managing director and chief executive (MD & CEO) of Union Bank of India.
About A. Manimekhalai
- She holds a Master of Business Administration (MBA) degree in marketing from Bangalore University and has also cleared the Certified Associate of Indian Institute of Bankers (CAIIB) exam, a premium test conducted by the Indian Institute of Banking and Finance.
- She started her career in 1988 with Vijaya Bank where she held various leadership roles such as general manager, branch head, regional head and functional head of various departments at the lender’s corporate office.
- Manimekhalai’s appointment comes at a time when there is a serious lack of female representation in the banking industry and the overall participation of women in the workforce is going down.
About Banks Board Bureau
- Banks Board Bureau is an Autonomous Body of Government of India.
- The Bureau has been set up in 2016 by the government to improve governance at the banks and assist the government in selecting top managerial talent in the PSBs.
- Banks Board Bureau continues to be the same which is to suggest on recruitment at senior level. Department of Financial Services Secretary, Deputy Governor of the Reserve Bank of India and Secretary, Department of Public Enterprises are ex-officio members of the BBB.
- It searches and selects apposite personages for Board of Public Sector Banks, Public Sector Financial Institutions and Public Sector Insurance Companies and recommend measures to improve Corporate Governance in these Institutions.
GS TIMES UPSC PRELIMS & MAINS CURRENT AFFAIRS BASED BASICS DAILY ONLINE TEST CLICK HERE
CLICK HERE DAILY CURRENT AFFAIRS QUIZ FOR STATE CIVIL SERVICES
MORE THAN 30 QUESTIONS FORM GS TIMES UPSC 2022 PRELIMS CURRENT AFFAIRS DAILY TEST
