Punjab National Bank Penalised ₹15.37 Crore for PMLA Violations by Appellate Tribunal

Punjab National Bank (PNB) has been fined ₹15.37 crore by the Appellate Tribunal under the Prevention of Money Laundering Act (PMLA) for violations during the period from April 1, 2016, to November 30, 2017.  

The penalty follows an appeal by PNB against a 2019 order from the Financial Intelligence Unit-India (FIU-IND). 

Details of the Penalty Imposed on PNB 

The Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976, imposed a monetary penalty of ₹15,37,50,000 on PNB.  

This penalty is the result of an appeal filed by the bank against an order issued by the Director of FIU-IND on July 29, 2019. The violations pertain to the review period from April 1, 2016, to November 30, 2017. 

PNB has stated that necessary corrective actions have been implemented to prevent such non-compliance in the future. The bank has ensured that the entire penalty amount is fully provided for in its accounts, resulting in no material impact on its financial position or operations. 

Explanation for Delay in Disclosure 

The adjudication order by the Appellate Authority was received by PNB on November 19, 2025. Given that the matter dates back to 2019, PNB's legal team required time to analyse the bank's legal stance and freeze the penalty amount. The disclosure was made promptly upon finalising the plan of action. 

PNB retains the option to appeal the Tribunal's order before the Hon’ble High Court within 45 days of the order date. The bank has communicated this possibility while ensuring compliance with the current ruling. 

Read More: PNB Unveils New Premium RuPay Metal Credit Card 'Luxura'! 

Punjab National Bank Share Price Performance  

As of December 09, 2025, at 9:23 AM, Punjab National Bank share price on NSE was trading at ₹115.50 down by 0.43% from the previous closing price. 

Conclusion 

Punjab National Bank's ₹15.37 crore penalty under the PMLA highlights the importance of compliance with regulatory standards. Despite the significant penalty, PNB's financial stability remains unaffected due to prior provisioning for the amount. 

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