Punjab National Bank has informed the Exchange regarding Change in Auditors of the company.
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Punjab National Bank has informed the exchange that M/s P S D & Associates, Chartered Accountants, will cease to be part of its Statutory Central Auditor team for FY 2025-26 with immediate effect. This change is pursuant to an RBI letter dated 25.03.2026 directing the bank to make the change. The other four audit firms — M/s Ummed Jain & Co. (Mumbai), M/s N K Bhargava & Co. (Delhi), M/s Prem Gupta & Co. (Delhi), and M/s P A & Associates (Odisha) — will continue as SCAs for the remainder of FY 2025-26. The bank has disclosed the date of cessation as 25.03.2026 and the reason as the RBI directive, without elaborating on the specific grounds.
This is a RBI-mandated midterm replacement of one auditor in the SCA panel, and the remaining four auditors continue, so there is no disruption to ongoing audit work. RBI-directed auditor changes in public sector banks typically signal quality or compliance concerns with the removed firm, so investors may want to watch for any related disclosures, but it is not expected to materially affect the bank's operations or stock.