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The Hindu
The Hindu
National
PTI

SHOCKING: Awaiting govt rbi guidelines on swift transactions with russian entities pnb - What They Never Told You

Russia SWIFT PNB India Ukraine European Union

The country's second-largest bank Punjab National Bank (PNB) said it was awaiting advisory from the Finance Ministry and the Reserve Bank with regard to SWIFT-related transactions with Russian entities.

In view of the ongoing war between Russia and Ukraine, several countries including the U.S., Canada and certain European nations have blocked some Russian banks from using SWIFT, a system that is used for global banking transactions.

"...we have not received any advisory from the RBI/Finance Ministry regarding SWIFT-related transactions with respect to Russia. Any action in this regard shall be taken after receipt of guidelines from RBI/Finance Ministry," PNB said in a response to queries on Russia-related transactions.

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