Punjab National Bank cancels EGM as sole director nominee approved

Punjab National Bank (PNB) has canceled its Extraordinary General Meeting (EGM), originally scheduled for September 4, 2025, for the election of a shareholder director. The decision follows the receipt of only one valid nomination for the position, Vandana Bhagavatula, by the August 20, 2025, deadline. The bank's board of directors, at its meeting on August 28, 2025, declared Bhagavatula "fit and proper," deeming her elected as the shareholder director in accordance with relevant regulations.

Bhagavatula will assume office on August 29, 2025, and serve until October 5, 2026. She brings 25 years of experience in accountancy, banking, finance, and audit, holding qualifications as a fellow chartered accountant and a diploma in information systems audit. Her background includes leadership roles at HDFC Bank Ltd. and Aneja Associates, as well as a directorship at Shakti Pumps (India) Limited. PNB confirmed no inter se relationship exists between Bhagavatula and other directors, and she is not debarred from holding the office.

In separate news, PNB announced its participation in investor and analyst meetings on September 2, 2025, in Mumbai. Representatives will attend the Motilal Oswal 21st annual global investor conference and the Ashwamedh - Elara India Dialogue 2025. These engagements are in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.