PNB penalized by RBI for currency processing lapses

Punjab National Bank (PNB: BSE) disclosed that the Reserve Bank of India (RBI) has imposed monetary penalties for violations related to currency verification and processing. According to a filing dated March 19, 2025, the RBI levied a penalty of ₹1,44,600 for shortages detected at its Currency Chest Navyug Market branch in Ghaziabad, Uttar Pradesh. Additionally, a penalty of ₹3,83,400 was imposed for similar discrepancies found at the Currency Chest Mainpuri branch in Uttar Pradesh. The total penalty imposed on PNB amounts to ₹5,28,000. The bank stated that the impact is limited to the extent of the penalty amount. The disclosure is in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.