Union Bank of India CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 10 Jul 2026, 16 fund houses so far (houses' deadline to file 15 Oct 2026)

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

• To discuss, approve and adopt the Audited Standalone and Consolidated Balance Sheet of the Bank as of 31st March 2026, Standalone and Consolidated Profit and Loss Account for the year ended on that date, the Report of the Board of Directors on the working and activities of the Bank for the period covered by the Accounts and the Auditors’ Report on the Balance Sheet and Accounts.MoreLess

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Old Bridge Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundThe Bank has not disclosed financials of subsidiaries for FY 2025-26 on its website. Governance concern: Non-Compliant Audit Committee. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundUnqualified Financial Statements. Non-Compliant with Companies Act, 2013 & SEBI LODR Regulations: The Bank has not disclosed financials of subsidiaries for FY 2025-26 on its website. Governance concern: Non-Compliant Audit Committee. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements
  • Jio BlackRock Mutual Fund, Old Bridge Mutual Fund, Sundaram Mutual FundWe have relied upon the auditors’ report, which has not raised concerns on the standalone and consolidated financial statements. Based on the auditors’ report, which is unqualified, the financial statements are in accordance with generally accepted accounting policies and Indian Accounting Standards (IND-AS). However, we raise concern that the bank has not constituted an audit committee in line with regulations and does not have sufficient independent directors on the board. In the absence of critical oversight provided by the audit committee, we are unable to support the resolution. Typical of public sector banks, Union Bank of India has four joint auditors. The audit committee must provide clarity on how it establishes accountability of these auditors and ensures that issues do not fall through the cracks, while allocating audit responsibilities.

  8 for7 against
• To declare Dividend of Rs. 5/- per Equity Share of Rs. 10/- each for the Financial Year 2025 - 26.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundCompliance & Governance concern is raised in adoption of financial statements of the Bank under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. Sufficient fund to pay Dividend. Compliance & Governance concern is raised in adoption of financial statements of the Bank under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR

  12 for4 against
• Raising of Capital of the Bank by way of issuance of fresh Equity Shares and / or by issuance of Additional Tier-1 / Tier-2 Capital as per BASEL III Guidelines

  15 for0 against
• Reappointment of Shri Nitesh Ranjan (DIN: 08101030) as Executive Director of the Bank.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Board is non-compliant with respect to requirement of minimum number of Independent Directors.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundAppointment compliant with Law. No concern on the merits of proposed appointees. Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs.

  12 for4 against
• Reappointment of Shri Ramasubramanian S (DIN: 08747165) as Executive Director of the Bank.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Board is non-compliant with respect to requirement of minimum number of Independent Directors.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundAppointment compliant with Law. No concern on the merits of proposed appointees. Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs.

  12 for4 against
• Appointment of Shri Asheesh Pandey (DIN: 09295107) as Managing Director and CEO of the Bank.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Board is non-compliant with respect to requirement of minimum number of Independent Directors.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundAppointment compliant with Law. No concern on the merits of proposed appointees. Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs.

  12 for4 against
• Appointment of Shri Amresh Prasad (DIN: 11522143) as Executive Director of the Bank.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Board is non-compliant with respect to requirement of minimum number of Independent Directors.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundAppointment compliant with Law. No concern on the merits of proposed appointees. Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs.

  12 for4 against
• Appointment of Dr. Debasish Prusty (DIN: 10655471) as Government Nominee Director of the Bank.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Old Bridge Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundGovernance concern: Board is non-compliant with respect to requirement of minimum number of Independent Directors.
  • DSP Mutual Fund, Jio BlackRock Mutual Fund, Old Bridge Mutual Fund, Sundaram Mutual FundDr. Debashish Prusty is currently Additional Secretary in the Department of Financial Services (Ministry of Finance). He has over 26 years of experience in designing and implementing policies in Public Finance, Sustainable Development, and Development Cooperation and Environmental and Urban Governance. He is a member of the Indian Administrative Services (IAS). It is unclear whether he will be liable to retire by rotation. However, recent SEBI LODR amendments build in sufficient guardrails and will need the company to seek reappointment for his nomination to the board after a five-year interval. We do not support the resolution as Union Bank of India’s board composition is not compliant with regulations – it does not have adequate independent directors on the board. We believe the government must first address the regulatory compliances regarding board composition before nominating a director on the board. We do not support this resolution.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundAppointment compliant with Law. No concern on the merits of proposed appointee. Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs.

  8 for8 against

Mutual fund votes, meeting of 1 Aug 2025, 22 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

• To Discuss, approve and adopt the Audited Standalone and Consolidated Balance Sheet of the Bank as on 31st March 2025,Standalone and Consolidated Profit and Loss Account for the year ended on that date, the report of the Board of Directors on the Working and activities of the Bank for period cover by the accounts and auditors report on Balance Sheet and Accounts.MoreLess

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundThe Bank has not disclosed financials of subsidiaries for FY 2024-25 on its website. Transparency concern: No adequate disclosure about Compliant Audit Committee.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundUnqualified Financial Statements. Non-Compliant with Companies Act, 2013 & SEBI LODR Regulations: The Bank has not disclosed financials of subsidiaries for FY 2024-25 on its website. Transparency concern: No adequate disclosure about Compliant Audit Committee.
  • LIC Mutual FundConcerns over The Bank has not disclosed financials of subsidiaries for FY 2024-25 on its website. Transparency concern: No adequate disclosure about Compliant Audit Committee.

  14 for7 against
• To Declare Dividend of Rs 4.75/ per Equity Share of Rs 10/ each for the FY 2024-25

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundCompliance & transparency concern is raised in adoption of financial statements of the Bank under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. Sufficient fund to pay Dividend. Compliance & transparency concern is raised in adoption of financial statements of the Bank under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
  • LIC Mutual FundConcerns over Compliance & transparency raised in adoption of financial statements of the Bank under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.

  15 for7 against
• Raising of Capital of the Bank by way of Issuance of fresh Equity Share and / or by Issuance of additional Tier 1/ Tier 2 Capital as pe BASEL III Guidelines

  21 for0 against
• Appointment of Shri Suraj Srivastava (DIN 09444372) as Part Time Non Official Director of the Bank.

  ›Against Aditya Birla Sun Life Mutual Fund, Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Taurus Mutual Fund, UTI Mutual Fund, Zerodha Mutual Fund

  • Aditya Birla Sun Life Mutual Fund, Taurus Mutual FundSuraj Srivastava is the Partner at M/s Batra Sapra & Co., where he has conducted statutory audits, concurrent audits and branch audits of various Public Sector Banks, Public Sector Undertakings and other Companies. He is a Chartered Accountant and holds a Bachelor of Law (LLB), with over 19 years of professional experience in taxation and audit. He has also completed the Information Systems Audit (ISA) Assessment test from ICAI. He served as Part-time Non-Official Director on the board of Union Bank of India from 21 December 2021 to 21 December 2024 and attended all nine board meetings (100%) held during his term in FY25. The bank proposes to reappoint him for another one year from 11 April 2025 or until further orders of the Govt. of India. Whichever is earlier. We raise concerns at the delay of more than three months in seeking shareholder approval for his appointment.As per public sources, he is associated with the Bharatiya Janata Party (BJP) as Treasurer of the BJP’s Awadh Kshetra (division) in Uttar Pradesh. While his appointment meets statutory requirements, we believe his political affiliation may unnecessarily politicize the decisions of the bank and distract the management from its core focus. The bank should have disclosed his political affiliation as part of the notice. Hence, we do not support the resolution.
  • Angel One Mutual FundAppointment without serving the cooling off period of three years. Governance concern: Term of appointment is ambiguous. Delayed Shareholders’ approval.
  • Axis Mutual FundSuraj Srivastava is the Partner at M/s Batra Sapra & Co., where he has conducted statutory audits, concurrent audits and branch audits of various Public Sector Banks, Public Sector Undertakings and other Companies. He is a Chartered Accountant and holds a Bachelor of Law (LLB), with over 19 years of professional experience in taxation and audit. He has also completed the Information Systems Audit (ISA) Assessment test from ICAI. He served as Part-time Non-Official Director on the board of Union Bank of India from 21 December 2021 to 21 December 2024 and attended all nine board meetings (100%) held during his term in FY25. The bank proposes to reappoint him for another one year from 11 April 2025 or until further orders of the Govt. of India. Whichever is earlier. We raise concerns at the delay of more than three months in seeking shareholder approval for his appointment. As per public sources, he is associated with the Bharatiya Janata Party (BJP) as Treasurer of the BJP’s Awadh Kshetra (division) in Uttar Pradesh. While his appointment meets statutory requirements, we believe his political affiliation may unnecessarily politicize the decisions of the bank and distract the management from its core focus. The bank should have disclosed his political affiliation as part of the notice. Hence, we do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of director. Appointment not in accordance with law: Appointment without serving the cooling off period of three years. Governance concern: Term of appointment is ambiguous and against spirit of the law. Delayed Shareholders’ approval.
  • Invesco Mutual FundSuraj Srivastava is the Partner at M/s Batra Sapra & Co., where he has conducted statutory audits, concurrent audits and branch audits of various Public Sector Banks, Public Sector Undertakings and other Companies. He is a Chartered Accountant and holds a Bachelor of Law (LLB), with over 19 years of professional experience in taxation and audit. He has also completed the Information Systems Audit (ISA) Assessment test from ICAI. He served as Part-time Non-Official Director on the board of Union Bank of India from 21 December 2021 to 21 December 2024 and attended all nine board meetings (100%) held during his term in FY25. The bank proposes to reappoint him for another one year from 11 April 2025 or until further orders of the Govt. of India. Whichever is earlier. We raise concerns at the delay of more than three months in seeking shareholder approval for his appointment. As per public sources, he is associated with the Bharatiya Janata Party (BJP) as Treasurer of the BJP’s Awadh Kshetra (division) in Uttar Pradesh. While his appointment meets statutory requirements, we believe his political affiliation may unnecessarily politicize the decisions of the bank and distract the management from its core focus. The bank should have disclosed his political affiliation as part of the notice. Hence, we do not support the resolution
  • LIC Mutual FundConcerns over Appointment without serving the cooling off period of three years. Governance concern: Term of appointment is ambiguous and against spirit of the law. Delayed Shareholders approval.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundAppointment not in accordance with law: Appointment without serving the cooling off period of three years. Governance concern: Term of appointment is ambiguous and against spirit of the law.
  • UTI Mutual FundAs per public sources, he is politically affiliated.

  7 for15 against
• Appointment of M/S Ragini Chokshi and Company , Company Secretaries as the Secretarial Auditor of the Bank for the period of two years from FY 2025 - 26 TO FY 2026-27

  ›Against Navi Mutual Fund

  • Navi Mutual FundNo issues on the merits of proposed Secretarial Auditors. Non-Compliant with Regulation 36(5) of SEBI (LODR) Regulations, 2015: Proposed audit fee payable to Secretarial Auditors not disclosed in the Notice.

  21 for1 against
• Nomination of Shri Rohan Chand Thakur (DIN 07944078) as Government Nominee Director of the Bank.

  ›Against Angel One Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundAddendum Notice not prior to 14 days with regards to appointment of Director.
  • Baroda BNP Paribas Mutual FundAddendum Notice not prior to 14 days w.r.t. appointment of Director and hence non-compliant with Companies Act, 2013.
  • Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundAddendum Notice not prior to 14 days w.r.t. appointment of Director.

  14 for7 against

• Fine or penaltyReserve Bank of IndiaSince 7 Apr 2026

  RBI levied penalties of Rs 350

  Penalty-Mutilated Notes in CC balan For Brn:800318
• Fine or penaltyReserve Bank of IndiaSince 7 Apr 2026

  RBI levied penalties of Rs 5000

  Penalty-Violat. of any Terms of Agr For Brn:800318
• Fine or penaltyReserve Bank of IndiaSince 7 Apr 2026

  RBI levied penalties of Rs 5000

  Penalty-Storing branch cash/ docs i For Brn:800318
• Fine or penaltyReserve Bank of IndiaSince 7 Apr 2026

  RBI levied penalties of Rs 50

  MUTILATED IN CC REMITTANCE PENALTY For Brn:500079
• Fine or penaltyReserve Bank of IndiaSince 7 Apr 2026

  RBI levied penalties of Rs 400

  CC REMITTANCE SHORTAGE PENALTY For Brn:840216
• Fine or penaltyReserve Bank of IndiaSince 7 Apr 2026

  RBI levied penalties of Rs 550

  MUTILATED IN CC REMITTANCE PENALTY For Brn:840216
• Fine or penaltyReserve Bank of IndiaSince 10 Apr 2026

  RBI levied penalties of Rs 2600

  MUTILATED IN CC REMITTANCE PENALTY For Brn:100195
• Fine or penaltyReserve Bank of IndiaSince 10 Apr 2026

  RBI levied penalties of Rs 1000

  CC REMITTANCE SHORTAGE PENALTY For Brn:100195

In the company's own words, from its latest governance filing.

The board is made up as the listing rules require

No

The board has a regular chairperson

No

The company has a risk management committee

Yes

The chair is related to the managing director

No

The filing has a part on fines and penalties

Yes

The filing has a part on tax disputes

Yes

There was a cyber security incident in the quarter

No

The company's own answers in its filing.