Krishna Kumar, General Secretary of AIPNBOF, has raised concerns over “wasteful expenditure” by the bank management after the recent foundation day celebrations held in Delhi.
In a Facebook post, Krishna Kumar said that a grand function was organized in Delhi last month on the occasion of the bank’s foundation day. The AIPNBOF General Secretary is quite active on social media and often raises important issues related to the Indian banking system.
The foundation day event of Punjab National Bank was conducted with “a lot of fanfare and expenditure.” Normally, all the organisations celebrate their foundation day with zeal and enthusiasm. But the issue comes here – The AIPNBOF GS alleged that an another celebratory party was later organized at a posh venue in the Lutyens’ area of Delhi, where more than 100 people reportedly participated.
This new party was organised to celebrate the success of the foundation day event.
He questioned the need for such a party and said that, in the union’s opinion, the expenditure was unnecessary. He also asked who had taken the decision to organize the celebration. This party has raised a lot of concerns over the expenditure of Banks.
He further demanded details regarding the year-on-year increase in expenses on publicity and other related activities during the last financial year as compared to the financial year 2024-25.
In his post, Krishna Kumar alleged that the present management appeared to be “very liberal” in spending on such activities. He also questioned whether these expenses had resulted in any additional business growth or profitability for the bank.
Expressing concern about the future of the banking sector, he said that profitability could become a major challenge going forward. According to him, the current situation calls for financial discipline and frugality rather than excessive spending.
This incident has triggered a big debate on social media over the handling of public money by public sector banks. If the allegations are true then the banks should be quite careful in organising parties and spending public money.
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