Punjab & Sind Bank has secured a licence from the International Financial Services Centres Authority (IFSCA) to establish an IFSC Banking Unit (IBU) at GIFT IFSC. This regulatory approval, conveyed via letter IFSCA-FMPP0IBUR/6/2026-Banking/2 dated July 07, 2026, follows the Reserve Bank of India's (RBI) earlier permission granted on January 28, 2026. The bank can now proceed to set up the unit as a branch at the international financial hub.

Key Regulatory Approvals

The bank has fulfilled the dual-regulatory requirement to operationalise its IFSC Banking Unit. The following table summarises the specific milestones achieved:

Significance of the Development

GIFT IFSC serves as India's dedicated international financial services centre, designed to facilitate cross-border financial transactions. An IFSC Banking Unit allows the bank to conduct international banking activities, including foreign currency lending and trade finance, from within the GIFT City jurisdiction. The receipt of the IFSCA licence completes the prerequisite conditions for the bank to expand its footprint into global financial markets.

Punjab & Sind Bank has fixed Tuesday, July 21, 2026, as the record date to determine shareholder eligibility for the final dividend of ₹0.39 per equity share of ₹10 each for the financial year ended March 31, 2026. The dividend is subject to shareholder approval at the 16th Annual General Meeting (AGM), scheduled for Tuesday, July 28, 2026, at 11:00 a.m. through Video Conferencing (VC) or Other Audio-Visual Means (OAVM). The payment will be made electronically within 30 days from the date of the AGM. Shareholders holding shares in physical form must ensure their bank details, PAN, and KYC documents are updated with the Registrar and Share Transfer Agent, MRFI Intime India Pvt Ltd, to receive the dividend directly into their bank accounts. The Bank will deduct tax at source if the dividend amount exceeds ₹5,000 as per Section 194 of the Income Tax Act, 2025.

The Board of Directors recommended the dividend, which will be paid to shareholders whose names appear in the records of NSDL or CDSL or the register of members as of the close of business hours on July 21, 2026. The Annual Report for 2025-26 was electronically dispatched to shareholders on Monday, July 6, 2026. The notice of the 16th AGM was published in newspapers on July 7, 2026.

Remote e-voting will be available from 10:00 a.m. on Friday, July 24, 2026, until 05:00 p.m. on Monday, July 27, 2026. Shareholders can cast their votes through the CDSL e-voting system or via their depository participants. The facility for appointing proxies is not available for this AGM. The aggregate results of remote e-voting and e-voting at the AGM will be made available within two working days of the meeting on the Bank's website and the websites of BSE Limited and the National Stock Exchange of India Ltd. The communication was addressed to the exchanges to ensure regulatory compliance.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE608A01012/e136e3c8e4404f30.pdf