PNB Executive Director Bibhu Prasad Mahapatra ceases office

0 min read Updated on 02 Jul 2026, 05:42 AM

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Suketu GScanX News Team

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Shri Bibhu Prasad Mahapatra has ceased to be the Executive Director on the Board of Punjab National Bank effective July 1, 2026, due to superannuation on June 30, 2026. The change follows a notification from the Department of Financial Services and was disclosed in compliance with SEBI (LODR) Regulations, 2015.

*this image is generated using AI for illustrative purposes only.

Shri Bibhu Prasad Mahapatra has ceased to be the Executive Director on the Board of punjab national bank effective July 1, 2026. The departure follows his superannuation on June 30, 2026, as per a notification from the Department of Financial Services, Ministry of Finance, Government of India.

The appointment and cessation were governed by Notification No eF.No.4/1(iii)/2023-BO.I dated October 9, 2023. The bank disclosed this information to the exchanges in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015.

Key Details

Detail	Information
Executive Director	Shri Bibhu Prasad Mahapatra
Date of Cessation	July 1, 2026
Reason	Superannuation
Regulatory Reference	SEBI (LODR) Regulations, 2015

Historical Stock Returns for Punjab National Bank

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.47%	-3.81%	-2.15%	-15.77%	-7.65%	+151.99%

Who will be appointed as the successor to fill the vacancy left by Shri Bibhu Prasad Mahapatra?

How will the bank's strategic priorities shift under the new executive leadership?

What impact will this leadership transition have on Punjab National Bank's stock performance?

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Punjab National Bank hikes MCLR rates by 5 bps effective July 1

1 min read Updated on 01 Jul 2026, 01:38 AM

Reviewed by

Shriram SScanX News Team

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Punjab National Bank has revised its Marginal Cost of Funds Based Lending Rates (MCLR) upwards by 5 basis points across all tenors, effective July 1, 2026. The one-year MCLR, a critical benchmark for consumer loans, now stands at 8.80%, up from 8.75%. However, the bank has maintained its Repo Linked Lending Rate (RLLR) at 8.10% and the Base Rate at 9.50%.

*this image is generated using AI for illustrative purposes only.

Punjab National Bank has increased its Marginal Cost of Funds Based Lending Rates (MCLR) by 5 basis points across all tenors effective July 1, 2026. The revision impacts loan pricing linked to the benchmark, with the overnight rate rising to 8.00% and the three-year tenor moving to 9.10%. This adjustment follows the bank's periodic review of lending rates based on the marginal cost of funds and operating expenses.

The bank communicated the revised rates to the stock exchanges on June 30, 2026. The hike applies uniformly across all specified maturities, ranging from overnight to three years. The one-year MCLR, a key benchmark for many consumer loans, has been revised upward to 8.80% from the previous 8.75%.

Revised MCLR Rates

The following table details the changes in the MCLR tenors effective from July 1, 2026, compared to the rates effective June 1, 2026:

MCLR Tenor	Existing w.e.f. 01.06.2026	With effect from 01.07.2026
Overnight	7.95%	8.00%
One Month	8.20%	8.25%
Three Month	8.40%	8.45%
Six Month	8.60%	8.65%
One year	8.75%	8.80%
Three years	9.05%	9.10%

Other Benchmark Rates

While the MCLR has been increased, the bank has chosen to keep its other benchmark lending rates steady. The Repo Linked Lending Rate (RLLR) remains at 8.10%, which includes a Basic Spread of 0.35%. Additionally, the Base Rate stays unchanged at 9.50%. The stability in these rates contrasts with the upward revision in the MCLR structure.

Historical Stock Returns for Punjab National Bank