'Unparalleled Move' or Regulatory Blunder? Union Bank ED's Demotion Stirs Controversy
Central Government cancelled the appointment of Shri Pankaj Dwivedi as Executive Director of Union Bank of India and consequently he ceases to be the Executive Director of the Bank with immediate effect.
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New Delhi, June 25, 2025: India's one of the leading Public sector banks, Union Bank of India came into controversy yesterday when the government cancelled Pankaj Dwivedi's appointment as Executive Director of the bank.
Union Bank in its BSE filing states that, "the Central Government vide notification dated June 24, 2025 has cancelled the appointment of Shri Pankaj Dwivedi as Executive Director of Union Bank of India and consequently he ceases to be the Executive Director of the Bank with immediate effect."
Further, Dwivedi lost his ED position and now sent back to his previous post as General Manager in Punjab & Sind Bank.
The controversial part is a pending case which is filed against Mr. Dwivedi in August last year. The public interest litigation (PIL) petition filed by a woman questioning his appointment as the Executive Director despite a sexual harassment chargesheet pending against him.
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The matter of fact is that Union Bank of India violates the regulations in terms of a lack of vigilance clearance.
Back on March 27, 2024, Pankaj Dwivedi assumed the Executive Director charge at Union Bank, prior to that he served in Punjab & Sind Bank as at General Manager.
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