Union Bank Senior Management Change: Sarvesh Ranjan Appointed CGM

The state-owned Union Bank of India recently announced a significant Union Bank senior management change following the superannuation of a veteran leader. Effective February 1, 2026, the bank has elevated Sarvesh Ranjan to the position of Chief General Manager (CGM), ensuring a seamless transition in its top-tier administrative and operational framework.

Union Bank of India, one of the country’s leading public sector lenders, has formally notified the stock exchanges regarding a strategic shift in its leadership hierarchy. This move comes as part of the bank’s routine but critical succession planning, aimed at maintaining organizational stability while adhering to strict regulatory governance standards.

The notification, filed under Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, marks the conclusion of an era for one senior official and the beginning of a new chapter for another seasoned banker.

Retirement of Bhaskara Rao Kare

The transition began with the retirement of Shri Bhaskara Rao Kare, who served as the Chief General Manager. Mr. Kare officially superannuated from the bank’s services on January 31, 2026. His tenure was marked by significant contributions to the bank’s growth trajectory and operational excellence.

Industry experts suggest that such retirements in public sector banks are pivotal moments that allow the institution to bring fresh perspectives into high-level decision-making roles while honoring the legacy of outgoing leaders.

Elevation of Sarvesh Ranjan as CGM

Stepping into the high-profile role is Shri Sarvesh Ranjan. Previously serving as General Manager, his promotion to Chief General Manager became effective on February 1, 2026. This Union Bank senior management change reflects the institution’s strategy of rewarding internal talent and leveraging deep-rooted institutional knowledge.

Profile of the New Chief General Manager

Sarvesh Ranjan is not a new face in the banking corridors. An Engineering Graduate by qualification, he brings nearly thirty years of extensive experience in the banking sector. Before this elevation, he was instrumental in managing some of the most sensitive functions of the bank, including Central Reconciliation, Transaction Monitoring, and Anti-Money Laundering (AML).

His career path is a testament to his versatility, having worked across various levels including:

Core Branch Banking
Regional and Zonal Offices
Staff Training Institutions
Corporate Office Leadership

Specialized Training and Expertise

In an era where banking is increasingly becoming tech-driven, Ranjan’s academic and professional certifications provide a competitive edge. He has participated in advanced leadership and capacity-building programs at the University of Applied Sciences, Switzerland, and the Indian School of Business (ISB), Hyderabad.

Furthermore, his expertise in IT and Cyber Security, backed by a certification from the Institute for Development and Research in Banking Technology (IDRBT), Hyderabad, positions him as a leader capable of navigating the digital complexities of modern finance.

Impact on Governance and Strategy

The Union Bank senior management change is more than just a title shift; it is a move toward reinforcing the bank’s commitment to sustainable growth and governance excellence. By placing an expert in AML and Transaction Monitoring at the CGM level, the bank signals a strong focus on compliance and risk management.

Market analysts view this promotion as a positive step for the bank’s internal morale and its reputation for transparency with stakeholders and regulatory bodies like SEBI.

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