Mumbai: State-owned lender UCO Bank has announced a significant change in its Board of Directors after the Government of India nominated senior bureaucrat Hari Har Mishra as Director on the bank’s board with immediate effect.
The appointment was disclosed through an official regulatory filing submitted to stock exchanges on Wednesday. Mishra replaces Sudhir Shyam, who ceased to hold office as Director on May 13, 2026.
According to the filing, the appointment has been made under the provisions of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, following a government notification issued on May 13, 2026.
Appointment Effective Until Further Orders
UCO Bank stated that Hari Har Mishra’s nomination takes effect immediately and will remain valid until further instructions are issued by the Central Government. The bank made the disclosure in compliance with SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations.
The lender also confirmed that Mishra is not debarred from holding the office of Director by the Securities and Exchange Board of India (SEBI) or by any other regulatory authority.
Senior Finance Ministry Official Joins the Board
Hari Har Mishra currently serves as Additional Secretary in the Department of Financial Services under the Ministry of Finance, Government of India. His induction into the board is expected to strengthen the bank’s governance and policy coordination, given his extensive administrative and financial sector experience.
The bank further clarified that Mishra has no familial or professional relationship with any existing member of the Board of Directors.
Transition at a Crucial Time for PSU Banks
The leadership transition comes at a time when public sector banks in India are witnessing increased government focus on governance reforms, capital efficiency, digital banking expansion, and asset quality management.
As one of India’s major public sector lenders, UCO Bank has been actively working on strengthening its balance sheet, improving operational efficiency, and expanding its digital banking ecosystem. The inclusion of a senior finance ministry official on the board is being viewed as part of the government’s broader effort to enhance oversight and strategic alignment within state-owned banks.
Industry observers believe such appointments help improve coordination between financial institutions and policymakers, especially amid evolving banking regulations and economic reforms.
Sudhir Shyam, who demitted office on May 13, had served as the government nominee director on the board before Mishra’s appointment.
The bank has not announced any additional changes in board committees or management structure following the transition.
