Punjab National Bank Fined ₹3.35 Lakh by BSE Over Cybersecurity Lapses

Punjab National Bank has disclosed today that it has been penalised ₹3.35 lakh plus applicable GST by BSE Ltd. for failing to close cybersecurity vulnerabilities flagged under SEBI’s guidelines for FY2024–25.

Penalty Triggered by VAPT Non-Closure

According to the bank’s stock exchange filing, the penalty was imposed for the non-closure of Vulnerability Assessment and Penetration Testing (VAPT) findings, a critical compliance requirement under SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/24 dated February 6, 2023, and Exchange Notice No. 20240916-2 dated September 16, 2024. The directive from BSE was received on May 27, 2025.

Limited Financial Impact

PNB said it does not have any ‘material financial impact or material impact’ on its operations, apart from the ₹3.35 lakh penalty. The bank also noted that it intends to appeal for a waiver within the prescribed period of time.

Looking Ahead

As cybersecurity compliance becomes increasingly critical for financial institutions, SEBI’s enforcement actions highlight the importance of timely remediation. PNB’s response to this penalty and the outcome of its appeal will be closely watched by market participants.

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REF: https://nsearchives.nseindia.com/corporate/pnb2_28052025184114_Intimation_penalty_28052025_DS.pdf