The government has terminated the appointment of Pankaj Dwivedi as Executive Director of Union Bank of India, effective immediately. He has been directed to return to Punjab & Sind Bank, where he previously held the post of General Manager before joining Union Bank in March 2024.
“We wish to inform you that the Central Government … 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,” the bank stated in an exchange note. The bank did not cite any reason for the government’s decision.
In August 2024, the Delhi High Court raised serious questions about his appointment despite the existence of a pending chargesheet for sexual harassment. The court was hearing a public interest litigation (PIL) filed by the woman who levelled the allegations against him.
The PIL challenged Dwivedi’s appointment on the grounds that it allegedly bypassed mandatory vigilance clearance, a key requirement for top-level postings in public sector banks. The petition was argued by Advocate Prashant Bhushan, who pointed out that appointing an official facing a chargesheet, and without clearance from the Central Vigilance Commission (CVC), violated established norms governing appointments in public sector undertakings.
A division bench comprising Acting Chief Justice Manmohan and Justice Tushar Rao Gedela had issued a formal notice in response to the petition. The bench expressed concern over how such an appointment was allowed to proceed in the absence of a clean vigilance report, highlighting the importance of transparency and due diligence in senior public appointments.
Dwivedi was appointed to the Executive Director post for a three-year term starting March 27, 2024. The court’s scrutiny and questions over procedural lapses appear to have led to the swift cancellation of his appointment and reinstatement to his previous role at Punjab & Sind Bank.
The case has drawn attention to the importance of vigilance vetting in high-level government and public sector bank appointments, particularly in cases involving serious allegations. Further proceedings in the matter are expected to unfold in the Delhi High Court.
