Key Event Details

Punjab National Bank received three nominations by the deadline of 10th September 2026 for the election of One Shareholder Director. The Board of Directors, in its meeting held on 17th September 2026, evaluated the nominations and found only one nomination to be valid and 'FIT and PROPER' - that of Smt. Vandana Bhagavatula.

Regulatory Framework

The election process is governed by multiple regulations including: Regulation 66 of Punjab National Bank (Shares and Meetings) Regulations, 2000; Section 9(3)(i) of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970; Banking Regulation Act, 1949; the Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970; Reserve Bank of India ('Commercial Banks – Governance) Directions, 2025 dated 28th November 2025; and SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015.

Director Appointment Details

Smt. Vandana Bhagavatula is deemed elected as the Shareholder Director without requiring a shareholder vote, being the only valid nomination. She will continue to hold office beyond her current term ending on 05th October 2026 and shall hold office until the completion of a period of three years.

Candidate Qualifications

  • Age: 59 years
  • Education: Bachelor of Commerce, Chartered Accountant (FCA), Diploma in Information Systems Audit (DISA)
  • Experience: 26 years in Accountancy, Banking, Finance, Audit, and Risk
  • Current positions: Shareholder Director on PNB Board, Honorary advisor for Kamala Sundaram Foundation
  • Previous roles: Independent woman director in Shakti Pumps (India) Limited, Vice-President at HDFC Bank Ltd., Director at Aneja Associates (CA Firm), proprietress of M/s VB & Associates, Chartered Accountants

Governance Compliance

The disclosure confirms that there is no inter se relationship between Smt. Vandana Bhagavatula and other Directors of the Bank, and she is not debarred from holding director office by any SEBI Order or other authority.

Meeting Cancellation

As a result of having only one valid nomination, the Extraordinary General Meeting of shareholders convened solely for the purpose of Election of ONE Shareholder Director on 25th September 2026 stands cancelled.

Filing Details

  • Regulatory Reference: Filed with National Stock Exchange of India Limited and BSE Limited