UCO Bank Announces Election of Rajesh Kumar Ailawadi as Shareholder Director

Mumbai, 7 March, 2026:UCO Bank has informed that Mr. Rajesh Kumar Ailawadi has been deemed elected as Shareholder Director of the Bank from among shareholders other than the Central Government.

The update follows the notice issued earlier regarding the Extraordinary General Meeting (EGM) scheduled to be held on 16 March 2026 through Video Conference (VC)/Other Audio-Visual Means (OAVM).

According to the bank, only one valid nomination was received for the position of Shareholder Director before the deadline of 27 February 2026. The nomination was submitted by Mr. Rajesh Kumar Ailawadi, a resident of Delhi, who holds a Bachelor of Science and Bachelor of Law degree and possesses experience in law, personnel management, industrial relations, and business management.

In line with the Reserve Bank of India (Commercial Banks – Governance) Directions, 2025, the Nomination and Remuneration Committee of the Board (NRCB), at its meeting held on 7 March 2026, accorded “Fit and Proper” status to Mr. Ailawadi.

As there was only one valid nomination for the single vacancy and the candidate met the eligibility criteria, Mr. Ailawadi has been deemed elected as Shareholder Director in accordance with Regulation 66(i) of the UCO Bank (Shares and Meetings) Regulations, 2003.

He will assume office with effect from 8 March 2026 and will hold the position until 9 January 2028.

Following the election, Agenda Item No. 1 related to the election of the Shareholder Director will not be taken up during the EGM scheduled on 16 March 2026, and the associated voting process for this item has been cancelled.

However, the EGM will still be held as scheduled to consider Agenda Item No. 2, and the remote e-voting process for that item will proceed as per the timetable mentioned in the EGM notice dated 19 February 2026.