Punjab National Bank has informed the Exchange about General Updates
PNB · price
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Awaiting price reaction for this filing.
PNB informed the exchange that its subsidiary PNB Gilts Ltd. has been fined ₹17.26 lakh (₹14.62 lakh penalty + ₹2.63 lakh GST) by AMC Repo Clearing Ltd. (ARCL). The penalty was for delayed crediting of funds to the settlement bank account on June 11, 2025 — funds were credited at 2:58 PM against a 2:00 PM deadline. PNB Gilts has stated the delay was due to an internet banking server issue at their bank, which was beyond their control, and they had sufficient balance to honour the obligation. The company has applied for a waiver of the penalty. There is no operational impact; the financial impact is limited to the penalty amount.
The financial hit is minor (under ₹20 lakh on a large entity like PNB Gilts) and should not materially affect the stock. If the waiver request succeeds, even this small cost could be reversed. Largely a non-event for PNB shareholders.