Punjab National Bank Announces Change in Statutory Central Auditors for FY2025-26

Punjab National Bank has announced changes to its Statutory Central Auditors (SCAs) for the Financial Year 2025-26, following regulatory requirements under SEBI (LODR) Regulations, 2015. The announcement was made on March 25, 2026, in compliance with Regulation 30 read with clause 7 of Para A Part A of Schedule III.

Auditor Change Details

Pursuant to a Reserve Bank of India letter dated March 25, 2026 (Ref: DOS.ARG.No.59687/08:10:003/2025-26), M/s P S D & Associates, Chartered Accountants, has ceased to be part of the bank's Statutory Central Auditors team with immediate effect. The cessation became effective on March 25, 2026.

Parameter:	Details
Reason for Change:	Pursuant to RBI letter dated March 25, 2026
Reference Number:	DOS.ARG.No.59687/08:10:003/2025-26
Date of Cessation:	March 25, 2026
Affected Firm:	M/s P S D & Associates, Chartered Accountants

Continuing Statutory Central Auditors

The bank will continue operations with four remaining audit firms as Statutory Central Auditors for FY2025-26. These firms represent a mix of experienced auditors in their second and third years of tenure with the bank.

Audit Firm:	Location	Tenure
M/s Ummed Jain & Co. (FRN 119250W, UCN 290292):	Mumbai	3rd year
M/s N K Bhargava & Co. (FRN 000429N, UCN 005772):	Delhi	3rd year
M/s Prem Gupta & Co. (FRN 000425N, UCN 101128):	Delhi	2nd year
M/s P A & Associates (FRN 313085E, UCN 260118):	Odisha	2nd year

Regulatory Compliance

The disclosure was submitted in compliance with Regulation 30 and 51 of SEBI (LODR) Regulations, 2015. The bank's Company Secretary, Bikramjit Shom, signed the official communication to both the National Stock Exchange of India Limited and BSE Limited, informing the exchanges of this change in the auditor composition.

The bank has requested the stock exchanges to take this information on record as part of its ongoing regulatory compliance obligations. The change ensures continued adherence to statutory audit requirements while maintaining operational continuity in the bank's audit processes.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.49%	-7.06%	-19.47%	-5.63%	+12.07%	+196.14%

Punjab National Bank has disclosed receiving a monetary penalty from the Reserve Bank of India under regulatory compliance requirements. The bank made the disclosure pursuant to Regulation 30 of SEBI LODR regulations on March 11, 2026.

Penalty Details

The Reserve Bank of India has imposed a monetary penalty on the bank for operational violations related to currency management. The penalty stems from shortage of notes at the bank's currency chest operations.

Parameter	Details
Penalty Amount	Rs 5,66,500
Imposing Authority	Reserve Bank of India
Order Receipt Date	March 10, 2026
Violation Type	Shortage of Notes at Currency Chest

Regulatory Compliance

The bank disclosed the penalty information in compliance with SEBI listing regulations. Under Regulation 30 read with Schedule III Para A Sub Para 20 of SEBI LODR 2015, listed entities are required to disclose details of penalties imposed by regulatory authorities.

Financial Impact

The bank has indicated that the financial impact of this regulatory action is limited to the amount of the penalty itself. No broader operational or financial implications have been mentioned in the disclosure. The penalty represents a regulatory compliance matter related to the bank's currency chest operations.

Currency Chest Operations

Currency chests are repositories where banks store cash on behalf of the Reserve Bank of India. Banks are required to maintain proper records and ensure adequate security measures for these facilities. The shortage of notes at the currency chest appears to be the specific violation that led to the penalty imposition.

The disclosure was signed by Company Secretary Bikramjit Shom and communicated to both the National Stock Exchange of India Limited and BSE Limited as per regulatory requirements.