Priyanka Tiwari
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Suspense crime, Digital Desk : In an exceptional and highly unusual decision, the government has removed Pankaj Dwivedi from his post as Executive Director (ED) of Union Bank of India and demoted him to the role of General Manager (GM) at another state-run bank, Punjab & Sind Bank.
The move represents a significant demotion and is being viewed as a first-of-its-kind action in India's public sector banking industry. An Executive Director is a board-level position, second only to the Managing Director & CEO, making them a key figure in a bank's leadership. In contrast, a General Manager is a senior management role but does not hold a seat on the board.
The order was issued by the Appointments Committee of the Cabinet (ACC), a high-powered body chaired by the Prime Minister. This indicates that the decision was taken at the highest level of government.
While the official notification confirmed the appointment change, it did not provide any specific reason for the drastic step. This lack of explanation has fueled speculation within the banking and business communities about the circumstances leading to such a rare disciplinary action.
This unprecedented move is being interpreted as a strong signal from the government regarding performance and accountability at the highest echelons of India's public sector banking system.
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