New Delhi [India], August 29 : The Standing Conference of Public Enterprises (SCOPE) has conferred the Eminence Award for Outstanding Women Leadership on A Manimekhalai, former Managing Director & CEO of Union Bank of India, in recognition of her impactful leadership and role in transforming one of India's oldest public sector banks.
President Droupadi Murmu on Friday honoured ex-UBI CEO Manimekhalai with the SCOPE Eminence Award in the national capital.
Manimekhalai made history in June 2022 by becoming the first woman to head Union Bank of India since its inception in 1919. At the time, she was the only woman leading a public sector bank in the country. She took charge during a critical period, following the complex merger with Andhra Bank and Corporation Bank. Her leadership was aimed at stabilising the bank, integrating systems and people, and driving growth, a release said.
Under her tenure, Union Bank saw a strong turnaround. Net profit rose from Rs 5,232 crore to Rs 17,987 crore, gross NPAs came down from 10.22 per cent to 3.60 per cent, and return on assets improved from 0.53 per cent to 1.35 per cent. The bank's total business crossed Rs 22.9 lakh crore, and market capitalisation crossed Rs 1 lakh crore, making it the fourth PSU bank to reach the milestone, the release said.
A major focus was on digital transformation. The bank introduced AI-powered CRM systems, digital lending platforms, and scaled its Vyom Super App to over 3 crore users. It also integrated innovations like Central Bank Digital Currency and established a Cybersecurity Centre of Excellence.
Equally important was the people-centric approach. Initiatives like Union Advith (HR strategy), DEI policies, and performance-linked incentives aimed to create a culture of transparency and merit. The EmpowerHER programme, Nari Shakti branches, and support for women entrepreneurs reinforced the bank's commitment to women-led inclusion.
Manimekhalai also strengthened governance by restructuring compliance systems and appointing a Chief Ethics Officer. On the sustainability front, Union Bank funded Rs 28,742 crore in renewable energy projects and became the first Indian PSU bank to join the Partnership for Carbon Accounting Financials.
After the award, Manimekhalai said that though she has completed her tenure as MD & CEO, she remains committed to nation-building and purposeful leadership, continuing to champion institutions that learn, adapt, and serve with intent.
On receiving the Eminence Award, she expressed deep gratitude to President Murmu, the eminent jury, SCOPE and Deloitte for the recognition.
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