Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2026
Customers allege unauthorized transfers at PNB branch
Issue disclosure
Customers of Punjab National Bank's Sector Pi-1 branch in Greater Noida alleged that money was withdrawn or transferred from their accounts without authorization, including through the premature closure of fixed deposits. The bank and police had not officially confirmed the suspected amount or the number of affected customers. The allegations concerned unauthorized activity on customer accounts at the branch; no confirmed figures for the suspected amount or the count of affected customers were released by the bank or police.
Customers of Punjab National Bank’s Sector Pi-1 branch in Greater Noida alleged that money was withdrawn or transferred from their accounts without authorization, including through premature closure of fixed deposits. The bank and police had not officially confirmed the suspected amount or the number of affected customers.
Source excerpt
Neither the bank nor the police has officially confirmed the figure or established how many account holders may have been affected.
2021
Punjab National Bank responds to data-breach claims
Company response
In November 2021, Punjab National Bank responded to claims made in a CyberX9 report that a vulnerability in its server had exposed customers' personal and financial information. The bank denied the claim that critical data had been exposed, while confirming that a glitch had occurred. The bank's response addressed the report's allegations by acknowledging the technical issue but rejecting the assertion that customers' personal and financial information was exposed as a result.
Punjab National Bank denied claims in a CyberX9 report that a vulnerability in its server exposed customers' personal and financial information. The bank confirmed a glitch but denied that critical data had been exposed.
Company response
Denial — Punjab National Bank
Punjab National Bank (PNB) has denied claims made in a cyber security firm's report that the personal data of the bank's millions of customers was breached due to a loophole in its system.
Clarification — Punjab National Bank
Meanwhile, the bank has confirmed the glitch but denied any exposure of critical data due to the vulnerability.
Source excerpt
Meanwhile, the bank has confirmed the glitch but denied any exposure of critical data due to the vulnerability.
According to the report by the cyber security firm Cyberx9, a vulnerability in the server of PNB allegedly exposed the personal and financial information of its about 180 million customers for about seven months.
Punjab National Bank (PNB) has denied claims made in a cyber security firm's report that the personal data of the bank's millions of customers was breached due to a loophole in its system.
2020
RBI fines six entities for regulatory non-compliance
Fine or penalty
In a regulatory action, the Reserve Bank of India imposed monetary penalties totaling over Rs 5.78 crore on six entities for non-compliance with regulatory guidelines. The entities named were Sodexo, PhonePe, QwikCilver Solutions, Punjab National Bank, Muthoot Vehicle & Asset Finance, and Delhi Metro Rail Corporation. The penalties were announced as part of the central bank's enforcement of regulatory compliance among the listed institutions.
Source excerpt
The Reserve Bank of India (RBI) has imposed a total fine of over Rs 5.78 crore on six entities, including PNB, Sodexo, and PhonePe, for violating regulatory guidelines.
"RBI imposes penalty on Sodexo SVC India Pvt Ltd, Muthoot Vehicle & Asset Finance Ltd, QwikCilver Solutions Pvt Ltd, Phonepe Pvt Ltd, Delhi Metro Rail Corporation Ltd, and Punjab National Bank," said the release.
2018
Punjab National Bank fraud case
PNB disclosed fraudulent transactions associated with its Mumbai branch, with reported exposure of approximately US$1.77 billion. The case resulted in investigations and sustained scrutiny of controls, governance and trade-finance processes.