Mumbai: Punjab National Bank (PNB) has announced the nomination of Sushil Katara as a Part-Time Non-Official Director on its Board for a term of three years, subject to the applicable terms of the government notification. The appointment was communicated by the Department of Financial Services (DFS), Ministry of Finance, Government of India, through a notification dated October 9, 2026.
The nomination is intended to strengthen the bank’s board-level governance and oversight by bringing an independent perspective to its decision-making processes. PNB has stated that a detailed profile of Katara will be provided separately.
PNB Board Appointment: Three-Year Tenure
According to the notification, Katara’s tenure will be three years from the date of the notification or until further orders, whichever comes earlier.
The appointment was issued under notification No. eF.No. 6/2/2026-BO.I/1 by the Department of Financial Services. The nomination is based on the authority conferred under clause (h) of sub-section (3) of Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
The appointment falls within the framework for government-nominated Part-Time Non-Official Directors on the boards of nationalised banks. Such directors can contribute independent views and expertise to board deliberations and support effective governance.
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Sushil Katara’s Profile and Director Eligibility
PNB has clarified that a detailed profile of Sushil Katara will be disclosed separately. The bank has also confirmed that there is no inter se relationship between Katara and any other director of the bank.
In addition, the bank has stated that Katara is not debarred from holding the office of director by any regulatory or other governing authority. These disclosures form part of the bank’s regulatory intimation concerning the nomination.
Key details of the appointment include:
- Appointee: Sushil Katara
- Position: Part-Time Non-Official Director
- Appointing authority: Department of Financial Services, Ministry of Finance, Government of India
- Notification date: October 9, 2026
- Tenure: Three years from the notification date or until further orders, whichever comes earlier
- Detailed profile: To be provided separately by PNB
- Inter se relationship: None with any other director of the bank, as disclosed by PNB
- Director disqualification: PNB has stated that Katara is not debarred from holding the office of director
PNB Board Nomination and Regulatory Compliance
The bank disclosed the appointment in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which governs the disclosure of material events and information by listed entities.
The intimation was signed by PNB Company Secretary Bikramjit Shom and submitted to both the National Stock Exchange of India (NSE) and BSE Limited.
The bank’s stock exchange details are as follows:
- NSE symbol: PNB
- BSE scrip code: 532461
The disclosure ensures that investors and other stakeholders are informed about the change in the bank’s board composition. The nomination is a board-level development within the government’s framework for appointments to public sector banks.
How the Appointment May Strengthen PNB’s Governance
The nomination of a Part-Time Non-Official Director provides an opportunity to bring an external perspective to the bank’s board discussions. Such directors can contribute to oversight, governance and strategic deliberations alongside other board members.
For PNB, the appointment forms part of its board composition and governance framework. The bank has not yet released Katara’s detailed professional profile, which is expected to provide further information about his background and experience.
Investors and stakeholders will be able to review the additional details when the bank makes the profile available through a subsequent disclosure.
About Punjab National Bank (PNB)
Punjab National Bank (PNB) is one of India’s major public sector banks, offering a wide range of banking and financial services to individuals, businesses and government institutions. The bank provides services including deposits, loans, digital banking, insurance and other financial products through its extensive network across India.
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