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Punjab National Bank (PNB) on Thursday assured customers that all genuine claims will be honoured and already settled three claims amounting to Rs 43 lakh in connection with alleged financial irregularities involving certain customer fixed and savings bank (SB) deposit accounts at the Greater Noida branch. A day after the incident was reported, PNB in a statement said the bank has taken serious cognisance of the complaints and is examining the matter on priority. "Three claims amounting to Rs 43 lakh had been settled as of yesterday. The Bank assures its customers that all genuine claims will be honoured," the statement said. The statement said it was extending full cooperation to the authorities concerned and taking necessary steps to verify the facts, assess the extent of the reported discrepancies and address the concerns of affected customers. PNB said it follows a zero-tolerance policy towards fraud, financial irregularities and misconduct, adding that stern action would be ta
Punjab National Bank (PNB) aims to bring its cost-to-income ratio below 50 per cent in the current financial year and further reduce it to around 45 per cent by 2028-29, said Ashok Chandra, MD and CEO of the country's second-biggest lender. The bank's cost-to-income ratio stood at 50.38 per cent in the first half of the current fiscal year, down from 53.3 per cent in September 2025, as it focuses on rationalising expenses and maximising profitability, he told PTI in an interview. "We are aiming to go below 50 per cent this financial year. That is the first target we have set for ourselves. In the next two years, by 2028-29, we should be somewhere around 45 per cent," he said. Chandra said the bank was working on two key areas -- rationalisation of expenses and maximisation of profits-- while sensitising its various units about the importance of improving operational efficiency. Every review meeting of the bank now focuses on the cost of deposits, yield on advances, fee-based income
State-run Punjab National Bank (PNB) has cautioned its customers about AI-enabled cyberattacks, especially AI voice cloning, deepfakes, and phishing, amid surging incidents of fraud, and has advised them to remain vigilant. Highlighting that October is observed as National Cyber Security Awareness Month every year, the bank informed customers that fraudsters are using increasingly sophisticated methods to make their attempts more convincing. "Many cyber frauds today exploit human behaviour, particularly trust, fear, urgency and everyday digital habits. Fraudsters may imitate the voice or appearance of your family members, friends, or trusted persons and create a false emergency to seek an urgent transfer of money," PNB MD and CEO Ashok Chandra said in his message to customers. Similarly, fraudulent emails, SMS or messages may appear highly personalised and like genuine bank communications, making them more difficult to identify, he said, adding that they create panic and make ...
To enhance its non-interest income, Punjab National Bank is planning to roll out wealth management services by December, the bank's managing director and CEO Ashok Chandra said. "The first stage of our wealth management strategy is to ensure that the bank has Customer Relationship Managers (CRMs) in place. Six months ago, we deployed around 1,700 CRMs across 1,700 branches. Their primary KRA (key responsibility area) is to manage and take care of approximately 250 to 300 top customers in each branch," he told PTI in an interview. The public sector lender is now planning to deploy another 1,300 CRMs and by end of this month. It would deploy them in another identified 1,300 branches. "That was the first step we undertook. We have also started engaging with consultants for our wealth management initiative. Very shortly, we expect to initiate the RFP process to appoint a partner for wealth management services. "I believe that within the next three to four months, our wealth management
Punjab National Bank (PNB) managing director and CEO Ashok Chandra has said that the bank would enter into acquisition finance in the third quarter of the current financial year as the RBI recently opened the window for lenders. Earlier this year, the Reserve Bank came out with final guidelines on acquisition finance by banks, increasing the lending limit to up to 75 per cent of the deal value from the 70 per cent proposed in the draft rules. "The acquisition finance market is a very, very big market and ample opportunities are there in the system. We have got our policy approved for the acquisition financing in the last board meeting," he told PTI in an interview. "We are looking for a good partner and then maybe from Q3 onwards, we will be initiating some work in the acquisition financing," he said. To begin with, he said, the bank would be starting acquisition finance with the domestic entities, and this will help the bank to diversify their asset portfolio. While permitting th
Punjab National Bank (PNB) on Saturday reported an over three-fold jump in standalone net profit at Rs 5,253 crore for the quarter ended June 30, 2026. The state-owned bank had posted a net profit of Rs 1,675 crore in the year-ago period. Total income in the quarter under review remained static at Rs 37,231 crore, PNB said in a regulatory filing. However, the lender's interest income increased marginally to Rs 32,897 crore, from Rs 31,964 crore in the same quarter a year ago. During the period, the bank's operating profit rose to Rs 7,519 crore, as compared to Rs 7,081 crore in the same quarter a year ago. The bank's asset quality improved as gross non-performing assets (NPAs) declined to 2.78 per cent of gross advances at the end of the June quarter, from 3.78 per cent a year ago. Gross Non-Performing Assets (GNPA) in absolute terms declined by Rs 7,292 crore to Rs 35,381 crore from Rs 42,673 crore, while Net Non-Performing Assets (NNPA) eased by Rs 699 crore to Rs 3,433 crore
Public sector lender Punjab National Bank (PNB) has signed a Memorandum of Understanding (MoU) with Digital India BHASHINI Division (DIBD) for facilitating multilingual AI banking. Through this partnership, BHASHINI's advanced multilingual AI capabilities will be integrated into PNB's digital platforms, PNB said in a statement on Thursday. This will empower customers to access banking services seamlessly in multiple Indian languages via both voice and text, it said. Speaking on the occasion, PNB Executive Director M Paramasivam said by combining multilingual AI with public service delivery, this initiative will help bridge language barriers and ensure that digital banking services are more accessible, equitable, and citizen-friendly for people across the country.
