PNB to become High-Tech Bank: 20% of FY26 Budget to be invested in IT and Digital Infrastructure

Punjab National Bank – India’s second largest public sector bank, plans to become a high-tech bank in the country with upgraded mobile app and technology.

About 20 per cent of the total capital and revenue expenditure will be used for developing IT and digital infrastructure this financial year, said Ashok Chandra, MD & CEO of Punjab National Bank (PNB). Last year, nearly 62–63 per cent of capital expenditure and around 19–20 per cent of revenue expenditure were spent on IT and digital development.

“The trust of 115 crore customers requires a strong and secure digital infrastructure, and we are committed to delivering that,” Chandra said at the Global Fintech Fest.

Talking about digital safety, Chandra said that PNB has strong systems in place, including a 24×7 Operational Risk Command Center (ORCC), real-time transaction monitoring systems, and a mule hunter tool developed with the RBI Innovation Hub. These measures have helped prevent fraud worth over ₹300 crore. He also said that a new, advanced data centre with private cloud features is being set up in Gurgaon to support digital operations.

To attract young, digital-first customers, PNB is modernising its banking experience. The bank is introducing quick account opening in under 10 minutes, enhancing the PNB One mobile app for retail and business users, and offering 3-in-1 accounts that include savings, demat, and trading facilities.

Chandra also highlighted the contribution of public sector banks in the Pradhan Mantri Jan Dhan Yojana (PMJDY). Of the 56 crore accounts opened under the scheme, over 44 crore were through public sector banks. In total, PSBs handle over ₹253 trillion in business—more than 61 per cent of India’s total banking business.

PNB is investing heavily in its mobile application – PNB One. This app has more than 1 crore downloads on Google Play Store. The app was uploaded on 15 Dec 2018 and has been upgraded regularly with new technology. PNB Customers can use this app to avail banking services very easily without visiting branches.