Union Bank of India Executive Director Pankaj Dwivedi has been removed from his position by the central government, according to an exchange filing on Tuesday.
Dwivedi was appointed as the ED at the state-owned lender in 2024.
The Centre, via a notification dated June 24, 2025, has "cancelled the appointment" of Dwivedi, and "consequently he ceases to be the Executive Director of the Bank with immediate effect", the filing noted.
Dwivedi will return as the general manager at Punjab & Sind Bank, according to a government notice exclusively seen by NDTV Profit. This is likely one of the first instances where a ED-level official has been demoted back to GM position.
Dwivedi was the GM at Punjab & Sind Bank before he was appointed as the ED of Union Bank for a three-year term on March 27, 2024. The appointment was challenged before the Delhi High Court, where a public interest litigation was filed in August last year.
The PIL, filed by a woman who accused Dwivedi of sexual harassment, alleged that the appointment violated regulations due to the lack of vigilance clearance.
The sexual harassment allegation against Dwivedi was levelled by her in 2018, when she had also accused him of corruption.
Earlier on Tuesday, the shares of Union Bank closed 2.56% higher at Rs 146.5 apiece on the NSE, compared to 0.29% rise in the benchmark Nifty 50.
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