In a move designed to sharpen governance at the group’s gilt subsidiary, PNB Gilts Limited has appointed Amit Kumar Srivastava as a Non-Executive & Non-Independent Director and as Chairman of the Board, effective October 9, 2026. Srivastava, who serves as an Executive Director at Punjab National Bank (PNB), steps into a leadership role on the PNB Gilts board as part of a broader alignment within the group’s governance framework.
The appointment follows the shareholders’ approval at the company’s 30th Annual General Meeting held on September 28, 2026, and subsequent clearance conveyed by the Reserve Bank of India. The board has also designated Srivastava as Chairman from the date of assuming the non-executive director position.
The terms note that the appointment is for a period not exceeding five years, or until the date he continues to hold the position of Executive Director at PNB, or until further orders of the Government of India, whichever comes earlier. This structure reflects a deliberate cross-pollination within the PNB ecosystem, aiming to bring seasoned governance and strategic oversight to PNB Gilts.
As the group navigates growth in the gilt market, Srivastava’s transition to the boardroom of PNB Gilts underscores a leadership continuity aimed at strengthening oversight and strategic direction across the Punjab National Bank family of entities.