PNB Gilts Limited , a subsidiary of Punjab National Bank, has received an updated credit rating letter from CRISIL Ratings Limited providing clarification on its earlier rating assignment. The company informed stock exchanges on December 17, 2025, about the revised rating documentation.

Rating Update Details

CRISIL Ratings Limited issued a revised letter dated December 15, 2025, updating its earlier communication from November 27, 2025. The key changes in the updated letter include:

The company emphasized that there is no change in the rating assigned and facilities rated earlier, with all other terms and conditions remaining unchanged.

Previous Rating Framework

The CRISIL A1+ rating, which is the highest rating for short-term debt instruments, continues to indicate very strong degree of safety regarding timely payment of financial obligations and lowest credit risk. This rating also applies to PNB Gilts' ₹1000.00 crore Commercial Paper programme.

Financial Position Context

To provide context for this rating, the company's financial metrics show:

Regulatory Compliance

The update was shared with both National Stock Exchange of India Limited and BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This follows the company's earlier intimation dated November 28, 2025, regarding the initial rating assignment.

The clarification demonstrates PNB Gilts' commitment to transparent communication with stakeholders and regulatory compliance, while maintaining its strong credit profile in the financial services sector.

PNB Gilts Limited , a subsidiary of Punjab National Bank (PNB), has announced the appointment of Smt. Anju Mittal as an Additional Director (Non-Executive & Non-Independent) on its board, subject to approval from the Reserve Bank of India (RBI). This strategic move comes as part of the company's ongoing efforts to strengthen its leadership team.

Key Appointment Details

Appointment Process and Background

The appointment follows a nomination from Punjab National Bank, PNB Gilts' parent company, and a recommendation from the Nomination and Remuneration Committee.

Mittal's Professional Profile

Smt. Anju Mittal brings significant experience to her new role:

• 32 years of banking experience
• Expertise in core banking, risk management, and compliance

Regulatory Compliance

PNB Gilts has initiated the appointment process, which is subject to regulatory approvals, including that from the Reserve Bank of India.

This appointment aligns with PNB Gilts' strategy to enhance its board expertise and strengthen its position in the financial services sector.