Union Bank Book Scandal: AIUBEF Demands Removal of MD & CEO Over ₹7.25 Cr Purchase
Union Bank of India is facing heat after spending ₹7.25 crore on bulk purchase of India@100 books. Now, the All India Union Bank Employees Federation has demanded the removal of the Managing Director and Chief Executive Officer over alleged financial mismanagement and lack of transparency.
Author: Kalyani Mali
Published: May 8, 2025
Union Bank of India, one of the largest Public Sector Banks, finds itself in a storm over a massive book purchase and its fallout. The All India Union Bank Employees Federation (AIUBEF) has written to the Ministry of Finance, demanding the immediate removal of MD & CEO Ms. A. Manimekhalai, alleging her failure to act transparently on a questionable purchase of nearly two lakh copies of the book India@100.
AIUBEF Steps Up: Demands CEO's Removal
On May 8, 2025, AIUBEF sent a formal letter to the Department of Financial Services urging the immediate removal of MD & CEO Ms. Manimekhalai. The union cited her lack of response to their earlier demand for a White Paper on the book purchase and accused her of being unable to “boldly declare clean hands.”
“She should have immediately tendered her resignation taking the moral responsibility of causing reputational and financial loss to the Bank,” wrote AIUBEF General Secretary Jagannath Chakraborty in the letter.
Image: Letter from AIUBEF to DFS and Finance Ministry demanding removal of Union Bank MD & CEO over ₹7.25 crore book purchase
Courtesy: Jagannath Chakraborty, General Secretary, AIUBEF.
Book Order Worth ₹7.25 Crore Raises Eyebrows
In 2024, Union Bank ordered 1,89,450 paperback copies at ₹350 each and 10,422 hardcover copies at ₹597 each of India@100 by KV Subramanian, incurring a total cost of ₹7.25 crore. These books were intended for distribution to customers, local schools, colleges, libraries, and regional offices.
Image: News report on Union Bank’s ₹7.25 crore book purchase triggering internal probe and GM suspension.
Call for Transparency Ignored, Says Federation
Prior to demanding her resignation, AIUBEF had written to the MD & CEO on May 2, asking for a White Paper on the book purchase. The union sought clarity on:
Who approved the purchase?
Was the Board consulted?
How was the book selected?
How many similar purchases were made historically?
No response was received, prompting the federation to escalate the matter.
Image: AIUBEF’s letter to MD & CEO of Union Bank dated 2nd May 2025 demanding a White Paper and raising seven pointed questions regarding ₹7.25 crore book procurement.
Courtesy: Jagannath Chakraborty, General Secretary, AIUBEF.
The ₹7.25 crore book purchase by Union Bank of India has led to serious concerns about transparency and internal processes. The demand from AIUBEF for the resignation of the bank’s Managing Director and Chief Executive Officer reflects growing concerns about accountability at the top. Beyond leadership, this issue highlights the need for a full investigation and stronger rules to prevent similar problems in the future.
No comments yet.