MUMBAI — Central Bank of India has announced key changes to its senior leadership team following the retirement of two top executives upon attaining the age of superannuation, marking an important transition in the management structure of one of India’s leading public sector banks.
In a regulatory filing submitted to the National Stock Exchange (NSE) and BSE Limited, the Bank informed investors that Mukul N. Dandige, Chief General Manager and Chief Financial Officer (CFO), retired from service effective at the close of business on May 31, 2026.
The Bank also announced the retirement of Suryanarayana Murty Saladi, General Manager, MSME Department, who superannuated on the same date after serving in a key leadership role within the organization.
Regulatory Disclosure in Compliance with SEBI Norms
The announcement was made in accordance with Regulations 30 and 51 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, which require listed companies to promptly disclose material developments and changes in senior management to stock exchanges.
The official communication was signed by Chandrakant Bhagwat, Company Secretary and Compliance Officer, who requested the exchanges to take the information on record.
End of a Distinguished Career for the Bank’s CFO
During his tenure as Chief Financial Officer, Mukul N. Dandige played a pivotal role in managing the Bank’s financial operations, including financial planning, capital management, regulatory compliance, risk oversight, and investor relations.
As CFO, he was responsible for ensuring financial discipline and supporting the Bank’s strategic growth initiatives in an increasingly competitive banking environment. His retirement marks the conclusion of a distinguished career dedicated to strengthening the institution’s financial framework and governance standards.
Industry observers note that the role of CFO has become increasingly important for public sector banks as they navigate evolving regulatory requirements, digital transformation initiatives, and capital optimization strategies.
MSME Veteran Suryanarayana Murty Saladi Also Retires
The retirement of Suryanarayana Murty Saladi represents another significant change within the Bank’s senior management ranks. As General Manager of the MSME Department, Saladi was closely involved in overseeing lending and policy initiatives for the Micro, Small and Medium Enterprises (MSME) sector.
The MSME segment remains a critical pillar of India’s economy, contributing significantly to employment generation, industrial output, exports, and entrepreneurship. Under his leadership, the department supported numerous initiatives aimed at expanding credit access and strengthening relationships with small business customers across the country.
Leadership Transition and Continuity
The retirements are part of the Bank’s normal succession and leadership transition process. Public sector banks routinely implement management changes upon the retirement of senior executives while ensuring continuity in operations and governance.
Market analysts generally view well-planned leadership transitions as essential for maintaining institutional stability, preserving operational efficiency, and supporting long-term strategic objectives.
Focus on Growth, Governance, and Customer Service
Despite the leadership changes, Central Bank of India remains focused on enhancing corporate governance, improving operational efficiency, accelerating digital banking initiatives, and delivering customer-centric financial services.
The Bank continues to strengthen its position in the Indian banking sector through prudent financial management, expanded lending activities, and a commitment to supporting economic growth across retail, corporate, agricultural, and MSME segments.
With the retirement of two experienced executives, the Bank enters a new phase of leadership while maintaining its focus on financial stability, regulatory compliance, and sustainable growth in an evolving banking landscape.
