Punjab National Bank discloses RBI penalties totalling about ₹8.6 lakh over currency chest guidelines
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- Banks
Punjab National Bank has told the exchanges that the Reserve Bank of India has imposed four monetary penalties on it for non-compliance with the operational guidelines for currency chests under the RBI’s master directions. The disclosure was made on 14 Oct 2026 under Regulation 30 of the SEBI listing rules.
The penalties are ₹2,91,750 dated 9 Sep 2026, and ₹1,33,800, ₹1,34,600 and ₹2,99,600, all dated 11 Sep 2026, which together come to ₹8,59,750. The bank says the matter is purely operational, and that the penalty amounts were debited directly from the bank’s account with the RBI and were identified only during periodic reconciliation.
The filing gives that as the reason the disclosure came later than the penalties. The bank says the impact is limited to the amount of the penalties, and that it is strengthening its reporting systems so that such deductions are identified in time in future.
Inference
The total of about ₹8.6 lakh is small, and the bank says there is no impact beyond it. The filing links the delay in disclosure to the way the penalties were taken: they were deducted from the bank’s RBI account rather than notified separately.
The bank has not described what corrective steps it has taken on the currency chest operations themselves, only on its reporting of such deductions.
Reference: Original filing (PDF)
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