Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Punjab National Bank ( (IN:PNB) ) just unveiled an update.
Punjab National Bank has disclosed that the Reserve Bank of India has imposed a monetary penalty of Rs 4.85 lakh on the bank due to a shortage of notes detected at one of its currency chests. The bank stated that the impact of the action is limited to the amount of the penalty, suggesting no material effect on its broader financial or operational position, but the incident underscores the regulatory scrutiny on cash-handling practices and operational controls in Indian banks.
More about Punjab National Bank
Punjab National Bank is a large Indian public sector bank that provides a wide range of retail, corporate and trade banking services across the country. As a systemically important lender with extensive branch and currency chest networks, it plays a key role in cash management and financial intermediation in India’s banking sector.
Average Trading Volume: 1,137,840
Technical Sentiment Signal: Buy
Current Market Cap: 1437.2B INR
Learn more about PNB stock on TipRanks’ Stock Analysis page.