PNB Gilts Gets Relief as ARCL Waives ₹17.26 Lakh Penalty Over Funds Shortage

Image Source: CNBC TV18

PNB Gilts Ltd has received a significant breather after AMC Repo Clearing Limited (ARCL) approved the waiver of a ₹17.26 lakh penalty that was imposed for a brief funds shortfall in its settlement account on June 11, 2025. The waiver comes after the company promptly engaged with ARCL and submitted a formal request citing operational oversight and immediate corrective action.

Penalty Background:

ARCL had levied a penalty of ₹14.62 lakh plus GST (totaling ₹17.26 lakh) for a 58minute delay in maintaining the required funds in the settlement bank account.
The shortfall occurred ahead of the 2:00 PM cutoff time on June 11, 2025.

Company’s Response:

PNB Gilts immediately acknowledged the lapse and initiated discussions with ARCL.
The company emphasized that the delay was nonrepetitive and nonmaterial in nature, with no systemic risk posed.

Waiver Approval:

ARCL reviewed the circumstances and granted a full waiver, recognizing the company’s clean track record and swift remediation.
The waiver eliminates any financial or reputational impact from the incident.

Operational Impact:

PNB Gilts confirmed that the event had no material effect on its operations or financials.
The company reiterated its commitment to compliance and settlement discipline.

This resolution underscores PNB Gilts’ proactive governance and ARCL’s balanced approach to enforcement—ensuring accountability without penalizing isolated, lowrisk lapses.

Source: PNB Gilts Exchange Filing, Business Standard, Screener