New Delhi : Punjab National Bank (PNB), one of India’s largest public sector lenders, has announced a revision in its Statutory Central Auditors (SCAs) for the financial year 2025–26. The change has been made in accordance with directives issued by the Reserve Bank of India (RBI) and in compliance with the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.
Key Change in Auditor Panel
PNB confirmed that M/s P S D & Associates, Chartered Accountants, has ceased to act as one of the bank’s SCAs with immediate effect. The decision follows an RBI communication dated March 25, 2026, under its regulatory framework governing the appointment and tenure of auditors in public sector banks.
Continuing Statutory Central Auditors
The bank has retained the following audit firms as SCAs for FY 2025–26:
- M/s Ummed Jain & Co., Mumbai – Serving its third consecutive year as SCA
- M/s N K Bhargava & Co., Delhi
- M/s Prem Gupta & Co., Delhi
- M/s P A & Associates, Odisha
These firms will continue to oversee the bank’s financial auditing processes, ensuring compliance with regulatory standards and maintaining transparency in financial reporting.
Regulatory Compliance and Disclosure
Punjab National Bank stated that the update has been disclosed to stock exchanges under Regulation 30 and Regulation 51 of SEBI (LODR) Regulations, 2015. Detailed information regarding the change has been included in Annexure I of the bank’s official filing.
The move reflects strict adherence to RBI guidelines, which periodically mandate rotation or changes in audit assignments to preserve auditor independence and strengthen governance frameworks in banking institutions.
Official Statement
Bikramjit Shorn, Company Secretary of PNB, said the change aligns with RBI instructions while ensuring continuity in audit quality.
He emphasized that retaining the existing auditors will support stability, transparency, and robust auditing standards across the bank’s operations.
About Punjab National Bank
Founded in 1894, Punjab National Bank is among India’s oldest and largest public sector banks, offering a wide range of banking and financial services across retail, corporate, and international segments.
Headquartered in New Delhi, the bank continues to focus on:
- Strong regulatory compliance
- Enhanced corporate governance
- Transparent financial reporting
- Sustainable growth and risk management
Conclusion
The revision in Statutory Central Auditors underscores Punjab National Bank’s commitment to regulatory compliance and best practices in corporate governance. By aligning with RBI directives and maintaining a stable audit panel, the bank aims to reinforce investor confidence and uphold high standards of financial accountability.