Union Bank of India Appoints Dr. Debasish Prusty as Government Nominee Director
Union Bank of India appointed Dr. Debasish Prusty as Government Nominee Director, effective May 13, 2026. Dr. Prusty, Additional Secretary in the Ministry of Finance, has over 26 years of experience. He replaces Shri Rohan Chand Thakur and will serve until further orders.
The appointment of a government nominee director is a standard procedure and typically has a neutral impact on the bank's operations or stock performance.
The appointment of a new director is a routine corporate governance event and does not inherently carry a positive or negative financial implication.
Union Bank of India has announced the appointment of Dr. Debasish Prusty as the Government Nominee Director on its board. This appointment was made by the Central Government, effective immediately, and Dr. Prusty will serve until further orders.
Dr. Debasish Prusty, an Additional Secretary in the Ministry of Finance's Department of Financial Services, brings over 26 years of experience in public finance, sustainable development, and governance. He has previously contributed to India's initiatives like the International Solar Alliance and represented India in international climate change negotiations under UNFCCC. He holds a Doctor of Philosophy from Manipal University Jaipur and a Master of Philosophy from Jawaharlal Nehru University, with additional training from the International Monetary Fund.
Dr. Prusty has no disclosed relationship with any existing Directors of the Bank and is not debarred from holding a director's office by any authority. He replaces Shri Rohan Chand Thakur in this role. The appointment is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Union Bank of India filed this with the NSE as a statutory disclosure, categorised under board changes. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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