Punjab National Bank is preparing to list its regional rural bank, Haryana Gramin Bank, in the fourth quarter of the current financial year or early 2027-28, according to Managing Director and CEO Ashok Chandra. Speaking at PNB's AI Summit in New Delhi, Chandra stated that the bank has eight RRBs now after consolidation and one of them - Haryana Gramin Bank - is getting prepared for listing. The listing would make Haryana Gramin Bank among the first RRBs to tap public markets following the government's consolidation exercise under its 'One State One RRB' initiative.
Haryana Gramin Bank reported strong financial metrics in 2025-26, with total business exceeding ₹47,000 crore and a net profit of ₹382.1 crore. The finance ministry consolidated RRBs across the country last year, reducing their number from 48 to 23, with sponsor banks submitting lists of RRBs for potential initial public offerings. PNB put forward Haryana Gramin Bank as its candidate for the listing process.
PNB has successfully mobilised nearly $2.5 billion through foreign currency non-resident (FCNR-B) deposits, meeting its target despite the Reserve Bank of India's decision to close the concessional swap window a month earlier than initially planned. As reported by Chandra, the bank is going to cross the target of $2.5 billion with current inflows around $2.46 billion. The RBI had opened a concessional swap facility for fresh FCNR(B) deposits on June 8 to support foreign-exchange liquidity amid pressure on the rupee following the West Asia conflict. With the July data capturing only part of the inflows attracted by the RBI's measures, analysts expect India's foreign exchange reserves to rise further and the central bank's forward position to continue expanding.
PNB is implementing artificial intelligence across multiple business functions, with plans to set up fully AI-run call centres for customer support. According to Chandra, the bank has deployed AI at all training centres to reskill employees and plans to use AI in a big way for customer service. The lender also plans to deploy AI for cybersecurity and fraud-risk management, with training programmes being redesigned around AI-based tools.
PNB is in advanced discussions with Punjab & Sind Bank for co-branded credit card issuance, as state-owned lenders seek to expand their presence in a segment dominated by private banks. According to Chandra, discussions for co-branded credit card issuance are in very advanced stage with one or two banks including Punjab & Sind Bank. The partnerships aim to allow smaller PSBs to leverage the credit-card infrastructure, customer base and distribution networks of larger lenders rather than building capabilities independently.
