Union Bank of India is strengthening its board with the appointment of Dr. Shiv Dayal as a Part-time Non-Official Director, effective November 3, 2026. The move, announced to the stock exchanges, places Dayal on the bank’s board for a three-year term, extending to November 2, 2029, or until further orders. The appointment aligns with governance practice of bringing independent expertise to oversee strategy and risk at a systemically important lender.
Dr. Shiv Dayal brings an academic portfolio to the boardroom, holding an M.Phil. and a Ph.D. in Economics. He has spent more than 25 years teaching undergraduate and postgraduate courses at Govt Post-Graduate College Chamba and has authored a book titled Dimension & Dynamics of Poverty in India, in addition to contributing to numerous educational volumes for CBSE, HPBSE, HBSE boards and Himachal Pradesh University. According to the filing, Dayal does not have any disclosed familial or professional relationship with the bank’s existing directors.
The government’s nomination under the Banking Companies Act adds a scholarly voice to Union Bank’s governance mix at a time when banks are navigating a complex regulatory and macroeconomic landscape. Dayal’s background in economics and development-focused scholarship could inform deliberations on financial inclusion, growth, and policy-linked risk management as the bank pursues its strategic priorities on and off the balance sheet.