PNB to allocate 20% of FY26 spend to boost IT, digital infra: CEO Chandra

Around 20 per cent of capital and revenue expenditure put together will go for developing IT and digital infrastructure in this financial year, said Ashok Chandra, MD & CEO of Punjab National Bank.

 

Last financial year, almost 62-63 per cent of the capital expenditure and 19 to 20 per cent of the revenue expenditure went towards IT and digital infrastructure.

 

“The trust of 115 crore customers requires a rock-solid digital infrastructure, and we are committed to delivering that,” Chandra said at the Global Fintech Fest.

 

On digital safety, Chandra emphasised robust frameworks in place, including a 24x7 operational risk command center (ORCC), transaction monitoring systems with real-time alerts, and mule hunter tool (in collaboration with RBI innovation hub), which has helped prevent fraud worth over ₹300 crore. Further, a new state-of-the-art data centre in Gurgaon with private cloud capabilities is also in the pipeline to support digital operations.

 

To onboard digital native generations, the public sector lending is modernising the banking experience, including initiatives such as table-based account onboarding in under 10 minutes, PNB One mobile app for retail and business banking, and 3-in-1 account offerings that include savings, demat and trading access.

 

Chandra said that public sector banks have been instrumental in implementing the Pradhan Mantri Jan Dhan Yojana (PMJDY), with over 44 crore of the 56 crore total accounts opened through PSBs. In terms of business, public sector banks account for over ₹253 trillion— more than 61 per cent of the total banking business in the country.