United Bank of India CMD Archana Bhargava resigned

Archana Bhargava, the Chairman and Managing Director (CMD) of the Kolkata-based United Bank of India (UBI) resigned on 21 February 2014.

Union Finance Ministry accepted the application for a voluntary retirement of Archana Bhargava. Her term was to end in February 2015.

Ms. Archana S. Bhargava joined as CMD of United Bank of India on 24 April 2013. Prior to this, Ms. Bhargava served as a General Manager of Punjab National Bank, which she joined in 1977.

Union Finance Ministry has decided that two executive directors would jointly run the bank till a new incumbent took over.

At a time when the entire Indian banking system is stressed, UBI is no odd man out. The bank’s total income during the quarter was 2986 crore rupees while its interest earning stood at 2765.5 crore rupees.

UBI is the lead bank in four eastern and north eastern states. It is among the biggest lenders to the tea industry. It also has exposure in some big industries in the iron and steel sector.