Punjab National Bank Not Exploring Further Lending to Vodafone Idea; Exposure at Rs 300 Crore: Report

Indian public sector bank Punjab National Bank (PNB) has an exposure of around Rs 300 crore to Vodafone Idea (Vi) and is not exploring any further lending to the telecom operator at present, the bank’s Managing Director and Chief Executive Officer, Ashok Chandra, told ETBFSI on Monday during the bank’s Q3 FY26 earnings call, according to a report dated January 20, 2026.

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Also Read: DoT to Finish Vodafone Idea AGR Dues Reassessment by End-February

PNB maintains no-fresh-exposure stance

“PNB has Rs 300 crore exposure to Vodafone, and as of now, we have not explored any further exposure in this particular account,” Chandra was quoted as saying.

In its Q3 disclosures, Punjab National Bank highlighted a calibrated approach to corporate lending, with incremental growth driven by better-rated borrowers and tighter risk filters. The bank also aims to increase the retail, agriculture and MSME (RAM) share in advances from the current 56.7 per cent to 60 per cent.

Earlier in 2024, PNB had also reportedly declined Vodafone Idea’s request for fresh lending. More on this here:

Also Read: PNB Turns Down Vodafone Idea’s Request for Fresh Financing

Vodafone Idea receives revised AGR repayment schedule

Earlier this month, Vodafone Idea informed stock exchanges that it had received a communication from the Department of Telecommunications (DoT) granting significant relief through a revised repayment structure for its AGR liabilities.

According to the disclosure, the company’s Adjusted Gross Revenue (AGR) dues—including principal, interest, penalty and interest on penalty for the period from FY2006-07 to FY2018-19—have been frozen as of December 31, 2025.