Bengaluru, 20^th November 2025: PNB Housing Finance, one of India’s largest housing finance companies, announced a credit rating upgrade from India Ratings on its Non-Convertible Debentures (NCDs) and Bank Loans from ‘IND AA+’ to ‘IND AAA’ with a Stable Outlook. The rating rationale highlights the Company’s proven track record across key business parameters, its consistent improvement in profitability and asset quality, along with granularization of the loan book, thereby reducing concentration risks. It also acknowledges Punjab National Bank’s strategic stake in PNB Housing and its shared legacy, thus reinforcing confidence in the Company’s long-term stability.

Mr. Jatul Anand, Executive Director, PNB Housing Finance stated, “We are proud to receive a credit rating upgrade from India Ratings to ‘IND AAA’, marking a significant milestone in our growth journey. It reaffirms the strength of our business fundamentals, strategic direction, strong financial health and prudent risk management practices. The sustained trajectory of rating upgrades over the past two years is a testament to the confidence that the promoters Punjab National Bank, and our investors and stakeholders place in us. We remain committed to building a resilient retail-focused franchise, strengthening our asset quality, and enhancing our liquidity position.”

This upgrade follows the earlier rating enhancement from ‘IND AA’ to ‘IND AA+’ in Q3 FY24, underscoring the Company’s sustained progress and the continued trust and confidence of investors in its financial strength and governance standards. The successive upgrades reflect PNB Housing’s consistent performance and resilience across business cycles.

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Bengaluru, 3^rd Nov 2025: Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer, signed a Memorandum of Understanding (MoU) with Punjab National Bank (PNB). Under this partnership, the Bank will provide competitive dealer finance options to the Medium and Heavy Commercial Vehicle (MHCV) dealers of Ashok Leyland.

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These innovative products were launched on the occasion of its 131st foundation day in the presence of Financial Services Secretary M Nagaraju.

Among the deposit products rolled out are schemes for salaried professionals, women, defence personnel, farmers, NRIs, senior citizens, pensioners, students and youth, PNB said in a statement.

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Mahapatra started his banking journey in Punjab National Bank as Management Trainee in the year 1989 and has served the bank for last 34 years in various capacities across the country. A banking veteran, he brings to the table a wealth of knowledge across multiple domains of Branch Banking, Credit & MSME, Risk Management, Business Process, Forex and Trade Finance, Compliance, among others. A post graduate in Political Science from Utkal University, he is also a Certified Associate Member of Indian Institute of Bankers (CAIIB). He also did a leadership development programme for senior management of PSB  from IIM Bangalore.

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Under PNB Palaash Project, more than one lakh PNB employees had actively participated in planting saplings across the country. This project encompasses several themes, such as Electrical Vehicle Finance Scheme, Recycling Camps, Tree Plantation Drive, Paper Conservation Drive, and Energy Conservation Olympics. PNB Palaash is also aligned with Mission LiFE (Lifestyle for environment),which is an India-led global mass movement to nudge individual and community action to protect and preserve the environment.

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Under the ‘PNB Swagat’ scheme, eligible customers can access loans ranging from Rs 25,000 to Rs 10 lakhs, offering unparalleled financial flexibility. The repayment terms are equally accommodating, with options extending up to 72 months in the form of EMIs or until the borrower reaches the age of 60.

Shri Atul Kumar Goel, MD & CEO, PNB, shared his thoughts at the launch event, stating, “The digital loan portfolio of our bank has witnessed impressive growth over the past year, and the future looks promising. Leveraging the ever-expanding opportunities in the Digital End-to-End Personal Loan Segment and aligning with the Ease 6.0 Reforms Agenda for FY 23-24, we are confident that ‘PNB Swagat’ is poised to revolutionize the banking industry. This cutting-edge digital platform employs automated algorithms to analyze various data points and credit indicators, ensuring rapid and precise loan approval decisions. This not only expedites the loan approval process but also safeguards the bank’s portfolio with minimal risk.”

The ‘PNB Swagat’ Scheme is accessible to salaried individuals aged 21 and above, holding a salary account with any bank in India. The online application process allows customers to request loans ranging from Rs. 25,000 to Rs. 10,00,000, or 10 times the average of their last 10 month’s net salary out of the past 12 months, whichever is lower.

For loans between Rs. 25,000 and Rs. 6 lakhs, customers simply need to sign the e-sanction letter and enter the OTP from their registered mobile number. Customers seeking loans above Rs. 6 lakhs must sign the e-sanction letter and other digital documents using an Aadhaar-based OTP through an e-signing tool based on NeSL (National E-Governance Services Ltd).

In terms of repayment, ‘PNB Swagat’ offers a seamless digital experience by enabling customers to digitally sign the e-Mandate for loan EMIs using the NPCI e-Mandate approval platform. Application charges for the PNB Swagat scheme are set at 0.50% of the loan amount, inclusive of all charges, with a minimum amount of Rs. 500 plus GST. These charges cover documentation, stamp duty, CIC, and other associated fees.

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Punjab National Bank has over 10,000 branches Pan India and the Bank will make its range of financial products available to Omega Seiki Mobility Customers Pan India.

New Delhi, 24th August 2023- Omega Seiki Mobility (OSM) today announced the signing of a MoU (Memorandum of Understanding) with Punjab National Bank (PNB). With this tie-up, Omega Seiki Mobility aims to help dealer partners streamline vehicle inventory funding and offer comprehensive retail financing solutions to their customers.

As a testament to their commitment to promote sustainable mobility, Omega Seiki Mobility has successfully financed 8000 electric vehicles, amounting to a disbursement of INR 350 crores, to date. This significant investment underscores their dedication to driving the adoption of electric vehicles in India. Looking ahead, the company has ambitious plans to finance an additional 7500 electric vehicles, with a total value of INR 300 crores, over the next three years.

Providing low-cost innovative financing options for both rural and urban customers is crucial in driving widespread adoption and promoting sustainable mobility in the electric vehicle industry. Rural areas benefit from reliable and cost-effective transportation, which is vital for socio-economic development. Omega Seiki Mobility and Punjab National Bank’s partnership prioritizes access to electric vehicles and localized charging infrastructure, empowering rural communities with cleaner and more efficient transportation options. This approach brings transformative impacts like reducing emissions, cutting operational costs, generating employment with better livelihood and, extra earning opportunity for riders fostering socio-economic growth. Simultaneously, urban financing addresses the environmental concerns of urban dwellers, making electric vehicles accessible. Lowering the interest rates for financing encourages a broader segment of society to embrace electric mobility, supporting India’s sustainable development goals. OSM will also increase the penetration in the EV eco-system.

Mr Uday Narang, Founder and Chairman of Omega Seiki Mobility, expressed his vision for this transformative partnership, “Today marks a significant milestone as Omega Seiki Mobility joins hands with Punjab National Bank to reshape the landscape of electric mobility financing. This partnership is not just about numbers; it’s about fostering a profound shift in how we perceive and access sustainable transportation. Our mission is clear: we aim to provide more than just financing options; we’re building a bridge to a greener, more inclusive future for every Indian. As we tap into the extensive network of Punjab National Bank’s branches across the nation, we’re expanding the horizons of electric vehicle ownership. This partnership doesn’t merely enable transactions; it’s about empowering individuals, families, and communities. It’s about giving wings to aspirations and turning them into reality.”

“Electric mobility isn’t limited to urban centres; it’s a transformative force that can uplift the lives of millions in rural India. By prioritizing access to electric three-wheelers, we are empowering rural India with cleaner, more efficient transportation options and generous earning potentials. We envision a future where electric vehicles become catalysts for positive social change, driving socio-economic development and reducing our carbon footprint.” Added Mr. Narang

Commenting on the Partnership Mr. Amitabh Rai, DGM- MSME, Punjab National Bank said, “Punjab National Bank has teamed up with Omega Seiki Private Limited (OSPL) to offer seamless financing options for electric 3-wheelers! to provide eco-friendly mobility solutions. In this regard, a Memorandum of Understanding (MoU) was signed on 20/07/2023 at PNB HO: Dwarka by Sh. Amitabh Rai (DGM -PNB) & Sh. Udaychandra (Director, OSPL) aimed at providing seamless financing solutions for electric 3-wheelers and cargo loaders. PNB customers can now access exclusive and affordable financing options for electric 3-wheelers (Both passenger & cargo loaders) from Omega Seiki Mobility.”

This strategic alliance between Omega Seiki Mobility and Punjab National Bank not only promises hassle-free financing options for customers but also contributes significantly to India’s sustainable development goals. By pooling their expertise and resources, the partnership is set to bolster the electric vehicle market and create a greener, cleaner, and more sustainable future for transportation in India. With a visionary approach, both organizations are committed to fostering an environmentally responsible ecosystem while driving economic growth. The collaboration not only benefits customers by facilitating the realization of their electric mobility aspirations but also plays a pivotal role in supporting the nation’s sustainable development agenda.

Mr Rakesh Ranjan, Head of Retail Finance at Omega Seiki Mobility, highlighted the significance of the partnership, “Embracing the synergy between sustainable innovation and financial empowerment, the Memorandum of Understanding between Omega Seiki Mobility and Punjab National Bank ushers in a transformative era of eco-friendly mobility, where intellect and conscience converge to drive the wheels of progress towards a greener and more inclusive tomorrow. Our mutual endeavours to empower customers through seamless access to finance for electric vehicle purchases create a unique and unprecedented proposition, fostering a robust ecosystem for electric mobility adoption. As we look ahead, our collective pursuit extends beyond mere commercial success. We envision a future where electric mobility transcends mere transportation and becomes a catalyst for positive social change. In synergy with Punjab National Bank, we aspire to empower rural India with cleaner and more efficient transportation options, propelling socio-economic development and reducing carbon footprints.”

With a commitment to catalyze positive transformation, Omega Seiki Mobility and Punjab National Bank are poised to set an unparalleled standard for sustainable mobility within the nation. This dynamic partnership not only strives to create a cleaner, greener future for India but also aspires to galvanize fellow organizations to unite in forging an environmentally-conscious and economically viable path forward. Together, they embody a visionary approach, where shared values harmonize with technological innovation and financial inclusivity, forging a trail towards a more eco-friendly, prosperous, and inclusive India.

Omega Seiki Mobility has established strategic partnerships with esteemed financial institutions such as IDFC and Indian Bank, alongside notable NDFC collaborators including Ecofy, Rise Wise Capital, AMU Leasing, Paisa Lo Digital Limited, Shri Ram Finance, Wheels EMI, Three Wheels United, Vidyu Tech, among others, catering to both Retail and Captive Customers of OSM. These affiliations enable customers to access seamless funding at competitively advantageous interest rates. Through these carefully structured arrangements, customers receive customized, secure, and responsive services, tailored precisely to their unique requirements, accessible through a diverse range of channels. This collaboration not only strengthens existing bank relationships but also empowers financial institutions to extend their reach, serving a broader audience, and thereby contributing to broader financial inclusion initiatives.

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PNB Executive Director Shri Kalyan Kumar and Air Commodore, S K Tripathi, VSM, from HQ Western Air Command inaugurated the branch in the presence of PNB & Air Force Station Palam officials.

The bank will provide specially designed products to the defence personnel under the bank’s flagship scheme of ‘PNB Rakshak Plus’. This scheme includes, inter alia, personal accidental insurance, air accidental insurance to serving, retired and trainees of the defence forces, central armed police forces, state police force, metro police and retired defence pensioners.

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