New Delhi: Punjab National Bank (PNB) has informed stock exchanges that the Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 (SAFEMA) has imposed a monetary penalty of ₹15.37 crore on the bank in connection with a matter originating from a 2019 order of the Financial Intelligence Unit–India (FIU-IND). The disclosure was made under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations.
According to the filing, the penalty relates to an appeal (FPA-PMLA-3175/DLI/2019) filed by PNB challenging an order dated July 29, 2019, issued by FIU-IND under Section 13 of the Prevention of Money Laundering Act (PMLA). The Appellate Tribunal upheld the penalty in its order dated November 13, 2025.
The violations pertained to the review period April 1, 2016, to November 30, 2017, during which FIU-IND had flagged non-compliance with anti–money laundering (AML) reporting and monitoring requirements. PNB stated that after the period in question, it implemented the “necessary corrective steps” and strengthened system-level checks and balances to ensure adherence to AML norms.
The bank clarified that the penalty has no material financial or operational impact, noting that its business and capital position remain unaffected.