State-owned Union Bank of India on Monday said the government has selected Srinivasan Varadarajan as non-executive chairman of the bank for three years with immediate effect.

The central government vide its announcement has appointed Varadarajan as part time non-official director as well as non-executive chairman of the bank for a duration of three years or until further orders, whichever is earlier, the bank said in a regulatory filing.

He has more than three decades of experience in

banking and financial services. Varadarajan last served as the deputy managing director of Axis Bank before setting up his own advisory practice in 2019.

The central government vide its announcement has appointed varadarajan as part time non-official director as well as non-executive chairman of the bank for a duration of three years or until further orders, which ever is earlier, the bank said in a regulatory filing

Among others, he served on various RBI committees including the Technical Advisory Committee, Committee for Repos and Committee for STRIPS.

An engineering graduate from College of Engineering, Anna University in Chennai, Varadarajan holds a PG diploma in management from the Indian Institute of Management (IIM), Calcutta