In an unusual move, the government has demoted Union Bank of India Executive Director (ED) Pankaj Dwivedi to General Manager (GM).

The central government hereby cancels the appointment of Pankaj Dwivedi as ED, Union Bank of India, made vide Department of Financial Services' notification dated March 27, 2024, the Department of Financial Services under the Ministry of Finance said in a gazette notification.

The government reverted him to his previous post as General Manager in Punjab & Sind Bank.