Punjab National Bank — Others, 06-06-2025: Resignation

Punjab National Bank has announced a board meeting and noted the resignation of Shri Jatinder Singh Bajaj, Shareholder Director representing LIC of India. His exit follows RBI’s directive barring LIC employees from holding board roles in public sector banks to avoid conflicts related to para banking. This change affects the bank’s governance by ending LIC’s direct representation on the board, aligning with regulatory expectations, without any other material reasons cited. This development may influence stakeholder relations with LIC and board dynamics going forward.