PNB raises cybersecurity budget by over 50% to 700-800cr
Punjab National Bank (PNB) is stepping up its game against digital threats by increasing its cybersecurity budget by more than 50% this financial year (FY2026/27).
With advanced AI models like Anthropic's Mythos making cyberattacks trickier, PNB is now putting aside ₹7 billion to ₹8 billion (about $73.5 million to $84 million), which makes up one-fifth of its tech budget.
PNB posts ₹5225cr profit, tightens security
After talks led by Finance Minister Nirmala Sitharaman on AI risks, PNB's Executive Director D Surendran shared that the bank has already started rolling out new security measures: think stronger firewalls and round-the-clock audits to catch issues early.
On the money front, PNB saw net profit jump more than 14% to ₹52.25 billion and is aiming for more growth in loans and deposits, especially for retail and small businesses.