PNB GILTS LTD. has informed the Exchange regarding Resignation of Mr Kalyan Kumar as Non-Executive Non-Independent Director and Chairman of the company w.e.f. of business hours of September 30, 2025.
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Mr. Kalyan Kumar (DIN: 09631251) has resigned as Non-Executive Non-Independent Director and Chairman of PNB Gilts with effect from the close of business hours on September 30, 2025. He was a promoter-nominated director on the board of PNB Gilts, with Punjab National Bank being the parent company. The reason for his resignation is his elevation as Managing Director & CEO of Central Bank of India, following which he is also stepping down as Executive Director of Punjab National Bank. This is a routine, positive career-driven transition rather than a governance-related exit. The company will now need to fill the Chairman position on its board.
The resignation is triggered by a promotion at another public-sector bank, so it carries no negative governance signal. Shareholders may see mild short-term uncertainty around board continuity, but the exit is natural and orderly with no operational disruption indicated.