Rajendra Kumar Saboo appointed as interim charge as UCO Bank MD & CEO

UCO Bank has entrusted Rajendra Kumar Saboo, Executive Director, with the additional charge of Managing Director & Chief Executive Officer (MD & CEO), following the completion of former MD & CEO Ashwani Kumar’s tenure on 31 May 2026, according to media reports.

The appointment came into effect on 19 June 2026 and was conveyed by the Department of Financial Services (DFS), Ministry of Finance, Government of India.

Saboo will hold the additional charge until 31 August 2026, the appointment of a regular incumbent, or until further orders, whichever is earlier.

Regulatory disclosure

Announcing the development in a regulatory filing, the bank said, “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 appointment fills the vacancy created after Ashwani Kumar completed his term as MD & CEO on 31 May 2026.

Veteran banker

Saboo has been serving as Executive Director of UCO Bank since November 2022. He brings more than three decades of banking experience, having started his career as a Probationary Officer with the erstwhile Oriental Bank of Commerce in 1994.

Over the years, he has held several leadership positions across branch operations and administration, including Branch Head, Regional Head and Cluster Head.

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

During his banking career, Saboo has overseen a wide range of business verticals, including treasury, international banking, digital banking and wealth management. His experience spans both frontline banking operations and strategic corporate functions.

Academically, he holds a postgraduate degree in Commerce, an MBA in Banking and Finance, and is a Certified Associate of the Indian Institute of Bankers (CAIIB).

Interim leadership

The bank confirmed that Saboo will continue in the additional role until a permanent MD & CEO is appointed. UCO Bank also stated that he is not barred from holding the office of Director by any order of SEBI or any other regulatory or statutory authority.

The interim appointment ensures leadership continuity at the public sector lender while the process to identify a regular MD & CEO progresses.