🧑💼 Who is Pankaj Dwivedi
Pankaj Dwivedi Union Bank Demotion, Pankaj Dwivedi is a senior banker with over three decades of experience in public sector banking. Before joining Union Bank of India as Executive Director (ED) in March 2024, he served as General Manager (GM) at Punjab & Sind Bank.
He holds:
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An MBA from Symbiosis Institute of Management Studies
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Certification in Financial Risk from IIM Raipur
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CAIIB qualification
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Completed a leadership program at IIM Bangalore, organized by the Banks Board Bureau
📉 The Rise and Rapid Fall: Union Bank to Demotion
On March 27, 2024, Dwivedi was appointed as Executive Director at Union Bank of India. However, barely 15 months later, the Government of India abruptly canceled his appointment. The cancellation, effective June 24, 2025, was conveyed through a formal gazette notification by the Department of Financial Services.
🔔 Key Event: Union Bank reported this cancellation in a stock exchange filing, which sent shockwaves through India’s banking sector.
🚨 Why Was Pankaj Dwivedi Demoted?
The demotion of Pankaj Dwivedi from ED to GM is rare in PSU banking and stems from two serious issues:
1. Lack of Vigilance Clearance
As per norms, top-level banking positions require Central Vigilance Commission (CVC) clearance. In August 2024, a PIL (Public Interest Litigation) filed in the Delhi High Court pointed out that Dwivedi’s appointment lacked this mandatory approval.
🧾 “How can the government approve such a senior post without CVC clearance?” the court asked.
2. Pending Sexual Harassment Charges
The same PIL revealed a pending chargesheet against Dwivedi from 2018, relating to sexual harassment. This serious allegation raised legal and ethical red flags about his promotion to Executive Director.
The PIL gained traction, and the Delhi High Court intervened, prompting a fresh review by the Finance Ministry. Eventually, the government revoked his ED role, reinstating him at Punjab & Sind Bank as General Manager.
📖 Source Reference: You can read a related government notification here on Business Today
📌 Internal Link: Also read Union Bank’s digital transformation initiatives on Viral News 24 Adda
🏛 Court & Government Reaction
The Delhi High Court played a decisive role by questioning the legality of Dwivedi’s appointment while such a case was pending. The Ministry of Finance acted swiftly after the court’s remarks, showcasing that compliance lapses, even at the highest levels, will not go unnoticed.
🗣️ “No one is above rules and due diligence—especially in public sector banking,” a senior finance official noted.
🔁 Timeline of Events
| 🗓️ Date | 📍 Event |
|---|---|
| March 2024 | Pankaj Dwivedi appointed as ED, Union Bank |
| August 2024 | PIL filed in Delhi High Court |
| June 24, 2025 | Govt cancels appointment citing procedural lapses |
| Post-June 2025 | Dwivedi reinstated at Punjab & Sind Bank as GM |
🌐 What This Means for PSU Banks
This case is a wake-up call for public sector institutions:
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Vigilance clearance cannot be bypassed
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Legal cases, especially those involving ethical misconduct, must be disclosed
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Appointments must be fully transparent and merit-driven
💬 Human Perspective: A Career in Crisis?
For a banker with over 30 years of experience and academic accolades, this is a major career jolt. While the government has not made public any decision on further disciplinary action, the reputational damage is already significant.
The episode also highlights how social accountability and judicial oversight can challenge even the most powerful positions in Indian bureaucracy.
🔚 Conclusion: Rules Matter More Than Rank
The Pankaj Dwivedi Union Bank case proves one thing—rules and integrity matter more than position or power. From missing vigilance checks to a pending legal case, multiple red flags were ignored until the court stepped in. It’s a rare but critical example of governance in action.
Stay updated with more such hard-hitting stories from India’s banking and public sector—only at Viral News 24 Adda.