I have a small query regarding this design
The right panel shows details of the left panel and the Header title of panel is same as that in field. Is it okay from UX point of view?
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It's only "okay" because it introduces redundancy and violates the "you can change what you see where you see it"-idea.
A better design would be to allow the change of the title in place. If you have a special edit mode, as indicated by Save/Cancel at the bottom, you'll need an input field with the title font.
If you wouldn't have the edit mode, I've seen the following solution: Hovering the title displays a pen icon, clicking the pen turns the title into an input field.
Having a title is important to keep the user informed and connected to the navigation. It works as a feedback and guides the user in moving forward or backward. In the image, the title is helping the user know that he/she has opened the right page when the particular option is selected from the nav menu.
A header is also important from accessibility point of view such as when using a screen reader.