Union Bank of India's shareholder director Arun Kumar Nanda resigns

CONTIFY MONEY | Uploaded on Mon, 28 Nov 2011 | Published on Mon, 28 Nov 2011

New Delhi: Indian public sector lender Union Bank of India Monday said that its shareholder director Arun Kumar Nanda has resigned from the board for personal reasons.

"The same (resignation letter) has been received by Department of Financial Services, Ministry of Finance, Government of India on November 28, 2011 and resignation shall be effective from November 28, 2011," the bank said in a filing to stock exchanges.

Currently, Union Bank of India's board of directors is headed by Chairman and Managing Director M V Nair. Other members in the board include Executive Directors S S Mundra and Suresh Kumar Jain, and Reserve Bank of India (RBI) Nominee Director Chandan Sinha, among others.

Shares of Union Bank of India ended at Rs 221.95 on the Bombay Stock Exchange (BSE) today, up 1.84%  from the previous close.

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