Union Bank Of India has informed the Exchange that: "Shri K. S. Sreenivasan, was appointed as part time non official Director of Union Bank of India, by the Central Government in exercise of the powers conferred by clause (g) of Sub-section (3) of section 9 of the Banking Companies (Acquisition and Transfer of Underakings) Act, 1970, read with sub-clause (b) of clause 9(2) of the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970, and after consultation with the Reserve Bank of India, under Chartered Accountant category for a period of three years with effect from the date of notification i.e. 11th October, 2006 and/or until further orders, whichever is earlier. since the period of three years from the date of notification has expired, he ceases to be Director of the Bank".
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