Union Bank of India has informed the Exchange regarding Cessation of Mr Pankaj Dwivedi as Executive Director of the company w.e.f. Jun 24, 2025.

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UNIONBANK · price

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Price reactionminutes from the announcement price · days from the prior close

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₹146.50

prior close

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announcement price

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Nifty 100market · index membership as recorded later (tracked since Jun 2026)+0.7%-2.0% vs market

Public Sector Bank peers, median of 11sector+0.7%-2.0% vs sector

On the reaction day the stock moved 2.0 pts less than Nifty 100 and 2.0 pts less than its Public Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Next day

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AI summary

Union Bank of India has informed the stock exchanges that the Central Government has cancelled the appointment of Shri Pankaj Dwivedi as Executive Director of the Bank, effective June 24, 2025. He consequently ceases to be the Executive Director with immediate effect. The cessation was carried out via a government notification dated June 24, 2025. The Bank's Company Secretary, Mangesh Mandrekar, has disclosed this under SEBI Listing Regulations.

Likely market impact

This is a top-level management change at a public sector bank, which is common in government-controlled banks where the Centre periodically rotates senior leadership. Shareholders may see short-term uncertainty, but operational continuity is unlikely to be materially affected.