On Saturday, state-owned UCO Bank averred the government has extended the term of its MD and CEO Atul Kumar Goel for two years. The central government, through a notification dated August 26, extended the term of office of Atul Kumar Goel as UCO Bank’s managing director and chief executive officer (MD & CEO), for a period of two years or until further orders, whichever is earlier, the bank added during a regulatory filing.
Atul Goel’s tenure was supposed to end by November 1, 2021. UCO Bank, previously known as United Commercial Bank was founded in 1943, initially situated in Kolkata, later came on to be the most successful nationalised bank, accepted by many. It is under the umbrella of the Ministry of Finance and the Indian Government. The total revenue generated during FY 2020–21 is ₹ 3.24 lakh crore. It is one of the 12 public sector banks in India.
Following this declaration, Punjab National Bank and Bank of Maharashtra had also notified about granting extensions to their MD & CEOs on Friday. The government permitted to increase the work tenure of the two executive directors from Punjab National Bank and Union Bank of India respectively. The authority also gave a nod for extension of the term for an executive director of the Central Bank of India.