PNB Gilts Gets Relief—ARCL Waives Penalty Amid Compliance Review

Punjab National Bank (PNB) has confirmed that its subsidiary, PNB Gilts Ltd, has received a waiver of penalty previously imposed by the Asset Reconstruction Company (ARCL). The waiver comes after a detailed compliance review and internal clarifications submitted by the unit, which satisfied the regulatory concerns raised earlier.

 

The penalty had been linked to procedural lapses in the handling of certain debt instruments, but ARCL has now acknowledged the corrective measures taken by PNB Gilts and opted to withdraw the financial penalty. This move is expected to ease regulatory pressure on the subsidiary and improve sentiment among institutional investors.

 

PNB Gilts, a key player in the government securities and debt market, has been under scrutiny following tighter compliance norms introduced in FY25. The waiver signals a positive shift in regulatory engagement, reinforcing the group’s commitment to transparency and governance.

 

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Source: Business Today – PNB Gilts Gets Penalty Waiver from ARCL