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‘Favoritism in Promotions Threatens Banking Integrity’ Punjab & Sind Bank Under Scrutiny for Promotions Without Vigilance Clearance
A complaint to the Managing Director & CEO of Punjab & Sind Bank has alleged that promotions were made without mandatory vigilance clearance. The letter highlights specific cases from the 2022-23 promotion process and raises concerns about changes in eligibility criteria.
Author: Kalyani Mali
Published: 9 hours ago
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On 17 September 2024, a letter was submitted to Punjab & Sind Bank’s management regarding the promotion of officers without vigilance clearance. The complaint details instances where staff members were promoted despite pending vigilance matters and highlights policy changes that reduced service requirements for promotion.
Allegations of Promotion Without Clearance
The letter stated that during the 2022-23 exercise for promotion from Scale V to Scale VI, two officials—Mr. Vinay Khandelwal and Ms. Mahima Aggarwal—were promoted despite departmental action being pending against them. It added that vigilance clearance was not given, yet both names appeared in the promotion list.
Image: Letter submitted to Punjab & Sind Bank raising concerns over promotions without vigilance clearance.
Courtesy: WeBankersOfficial
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Changes in Promotion Criteria
According to the complaint, Punjab & Sind Bank’s HR Department reduced the minimum service length required for promotion from 15 years to 12 years, through a circular dated 30 March 2022. The letter further noted that when results were declared on 3 May 2022, three officials were promoted, including Ms. Aggarwal and Mr. Khandelwal. The complaint also mentioned that no penal list of candidates was circulated.
Additional Observations From the Complaint
The letter recorded that on 30 May 2022, one more official was declared promoted from Scale V to Scale VI. It questioned why this individual, described as more deserving, was not included in the first promotion list. It also raised doubts over the management’s decision to reduce the service tenure requirement when there were sufficient eligible officials.
‘Promotions based on favoritism’
While speaking to Kanal a representative of WeBankers said, “Recent revelations have exposed disturbing practices in Public Sector Banks where rules for promotions are being bent, and qualifying criteria relaxed to favor select individuals. Punjab & Sind Bank promoted officers without mandatory vigilance clearance, sidelining deserving candidates.”
He further said, “The infamous case of Pankaj Dwivedi—previously with Punjab & Sind Bank—shows the stark reality: he was elevated as Executive Director of Union Bank of India despite serious allegations and no Central Vigilance Commission (CVC) clearance. The Delhi High Court questioned this appointment, and after judicial scrutiny, the government revoked his promotion.”
“It’s time for the public and authorities to demand transparency and accountability in every promotion process. Promotions based on favoritism, ignoring merit and vigilance checks, threaten the integrity of financial institutions.” he concluded.
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