Executive Director To Lead Bank Until Regular CEO Appointment
Public sector lender UCO Bank has assigned the additional charge of Managing Director and Chief Executive Officer (MD & CEO) to Rajendra Kumar Saboo following the completion of former chief Ashwani Kumar’s tenure.
According to a regulatory filing, the Department of Financial Services (DFS) under the Ministry of Finance has approved the appointment, with Saboo assuming the additional responsibility from June 19, 2026.
Why Has UCO Bank Appointed Rajendra Kumar Saboo?
The appointment comes after the term of former MD & CEO Ashwani Kumar ended on May 31, 2026, creating a vacancy at the top leadership position.
UCO Bank stated that Saboo will continue to hold the additional charge until August 31, 2026, or until a regular MD & CEO is appointed, or until further orders from the government, whichever is earlier.
“We hereby inform that the Department of Financial Services, Ministry of Finance, Government of India, has conveyed the assignment of additional charge of the post of Managing Director & Chief Executive Officer of UCO Bank to Shri Rajendra Kumar Saboo, Executive Director, UCO Bank,” the bank said in its stock exchange filing.
Who Is Rajendra Kumar Saboo?
Rajendra Kumar Saboo joined UCO Bank as Executive Director in November 2022 and brings more than three decades of banking experience.
He began his banking career in 1994 as a probationary officer with the erstwhile Oriental Bank of Commerce and has held several leadership positions across branch operations, regional management, and administrative functions.
Before joining UCO Bank, Saboo served as Chief General Manager at Punjab National Bank, where he led strategic management, economic advisory, management information systems (MIS), and data analytics functions.
Extensive Experience Across Banking Segments
Throughout his career, Saboo has managed multiple business verticals, including treasury operations, international banking, digital banking, wealth management, and strategic planning.
His appointment ensures leadership continuity at UCO Bank while the government and regulators work towards appointing a permanent MD & CEO.
The development comes at a time when public sector banks are focusing on digital transformation, asset quality improvement, and expanding their retail and corporate banking franchises amid a rapidly evolving financial services landscape.
