In a distinguished ceremony held in New Delhi, President Droupadi Murmu conferred the prestigious SCOPE Eminence Award for Outstanding Women Leadership to A Manimekhalai, the former Managing Director and CEO of Union Bank of India (UBI). The honor recognizes her transformative leadersh...
In a distinguished ceremony held in New Delhi, President Droupadi Murmu conferred the prestigious SCOPE Eminence Award for Outstanding Women Leadership to A Manimekhalai, the former Managing Director and CEO of Union Bank of India (UBI). The honor recognizes her transformative leadership in one of India's oldest public sector banks and her pioneering role as the first woman to helm UBI since its establishment in 1919.
Key Highlights of the Award and Manimekhalai’s Contributions
Manimekhalai became UBI’s MD & CEO in June 2022, overseeing the critical post-merger integration of Andhra Bank and Corporation Bank with Union Bank.
She played a pivotal role in stabilizing operations, aligning systems, and restoring confidence among stakeholders amid a complex transition.
Under her tenure, Union Bank’s net profit increased exponentially from ₹5,232 crore to ₹17,987 crore.
Non-Performing Assets (NPAs) were significantly reduced, with gross NPAs dropping from 10.22% to 3.60%.
Return on assets improved from 0.53% to 1.35%, marking a robust financial turnaround for the bank.
UBI’s total business crossed ₹22.9 lakh crore, with market capitalization surpassing ₹1 lakh crore, making it the fourth PSU bank to reach this milestone.
Pioneering Digital Transformation and People-Centric Initiatives
Manimekhalai spearheaded a digital overhaul with AI-powered Customer Relationship Management systems and digital lending platforms.
The launch and rapid scaling of the Vyom Super App to over 3 crore users exemplified UBI’s push into digital banking innovation.
Integration of Central Bank Digital Currency (CBDC) pilot programs and establishment of a Cybersecurity Centre of Excellence highlighted the bank’s futuristic approach.
She championed people-centric policies such as performance-linked incentives, diversity and inclusion (DEI) initiatives, and the EmpowerHER program aimed at mentoring women leaders and promoting gender-inclusive financial services.
The bank introduced “Nari Shakti” branches designed to support women entrepreneurs, reinforcing commitment to women-led financial inclusion.
Governance and Sustainability Achievements
Manimekhalai enhanced governance through restructuring compliance frameworks and appointing a Chief Ethics Officer.
Union Bank financed renewable energy projects worth over ₹28,700 crore, leading the public sector banking sector in green finance.
She guided UBI to become the first Indian Public Sector Undertaking bank to join the global Partnership for Carbon Accounting Financials.
The bank also constructed India’s first net-zero energy and water commercial building in Bengaluru during her leadership.
Words from Manimekhalai and the President’s Remarks
Speaking after receiving the award, Manimekhalai expressed deep gratitude to President Murmu, the SCOPE jury, and Deloitte, acknowledging the recognition in the presence of industry and government dignitaries.
She emphasized that her leadership philosophy rests on resilience, humility, and the hard work of Union Bank’s 73,000 employees, whom she credited as the true drivers of transformation.
President Droupadi Murmu praised the outstanding role of public sector enterprises in nation-building and lauded Manimekhalai’s contributions to financial innovation, inclusive growth, and sustainable banking.
Significance of the SCOPE Eminence Award
The Standing Conference of Public Enterprises (SCOPE) Eminence Awards celebrate exceptional achievements of public sector leaders and organizations in India.
The awards recognize excellence across domains including corporate governance, innovation, environmental sustainability, and women empowerment.
Manimekhalai’s distinction as the recipient of the Outstanding Women Leadership accolade symbolizes the breaking of barriers for women in traditionally male-dominated sectors like banking.
Conclusion
A Manimekhalai’s recognition with the SCOPE Eminence Award underscores her transformative impact on Union Bank of India—revitalizing financial performance, driving technological modernization, and fostering inclusive leadership. Her achievements set a benchmark for public sector leadership and exemplify the powerful role women play in shaping India’s economic future.
Sources: UNI India, The Tribune, ANI, Business Standard, Hindustan Times
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