PNB Gilts Limited has announced a key leadership appointment, naming Mr. Pankaj Kumar as Deputy Chief Executive Officer effective March 27, 2026. The appointment was formalized during a board meeting held on the same date, positioning Kumar as Senior Management Personnel within the organization.

Board Meeting Details

The board of directors convened on March 27, 2026, with the meeting commencing at 11:10 AM (IST) and concluding at 12:40 PM (IST). The primary agenda focused on the strategic appointment of the new Deputy CEO role.

Executive Profile and Background

Mr. Pankaj Kumar currently serves as Assistant General Manager at Punjab National Bank and brings substantial experience to his new role. His educational credentials include a Bachelor of Science degree from Vinoba Bhave University, CAIIB certification, and a Diploma in Treasury, Investment & Risk Management from the Indian Institute of Banking and Finance. He also holds a Post Graduate Diploma in Business Administration from Symbiosis University.

Professional Experience

Kumar's career spans over 22 years in the banking industry, with expertise across multiple domains including:

• Risk management operations
• Treasury operations and management
• Administrative functions
• Mid office operations

Notably, during his tenure with PNB, Kumar has previously worked at PNB Gilts Limited on deputation for approximately 4 years, specifically in the Mid Office division. This prior experience with the company provides him with valuable institutional knowledge and operational understanding.

Regulatory Compliance

The appointment was disclosed in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company filed the necessary documentation with both the National Stock Exchange of India Limited and BSE Limited, ensuring full regulatory transparency.

Strategic Implications

The appointment of Kumar as Deputy CEO represents PNB Gilts Limited's commitment to strengthening its senior management team with experienced banking professionals. His extensive background in treasury operations and risk management aligns well with the company's core business activities in the government securities market.

PNB Gilts Limited has submitted copies of newspaper advertisements to the National Stock Exchange of India Limited (NSE) and BSE Limited, confirming the dispatch of its postal ballot notice for the appointment of two Non-Executive Directors. The submission was made under Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Newspaper Advertisement Submission

On March 26, 2026, the company filed copies of newspaper advertisements published in Financial Express (English) and Jansatta (Hindi) newspapers. The advertisements confirmed the dispatch of the postal ballot notice, remote e-voting information, and procedures for email address registration.

Postal Ballot Process Details

The postal ballot notice seeks shareholder approval for appointing two Non-Executive & Non-Independent Directors nominated by Punjab National Bank. The voting is conducted exclusively through remote e-voting facility, with no physical postal ballot forms being sent to members in accordance with MCA circulars.

Proposed Director Appointments

Sh. Bibhu Prasad Mahapatra (DIN: 08756848)

Sh. Bibhu Prasad Mahapatra, currently serving as Executive Director of PNB since October 9, 2023, has been nominated for appointment as Non-Executive & Non-Independent Director. He brings over 36 years of banking experience and holds qualifications including CAIIB certification and a diploma in Strategic Development Programme from IIM Bangalore.

Smt. Anju Mittal (DIN: 11410994)

Smt. Anju Mittal, currently serving as General Manager – Compliance Division of PNB, has been nominated for the second directorship. She holds qualifications including MBA, M.A., M.Com, FRM, and CAIIB, with 32 years of experience in core banking, risk management, and compliance.

Regulatory Compliance and Results Timeline

Both appointments have received necessary regulatory approvals from the Reserve Bank of India and comply with Section 152 of the Companies Act, 2013, and SEBI LODR Regulations. The Nomination & Remuneration Committee has recommended both appointments considering the candidates' extensive experience and fit-and-proper status.

The scrutinizer will submit the voting results report within two working days from the end of the remote e-voting period. Results will be announced immediately thereafter and communicated to stock exchanges where the company's securities are listed. The publications are also available on the company's website at www.pnbgilts.com .