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# PNB Insurance Broking Company is non-functional. The Broking licence has been surrendered and steps are being initiated for winding-up of the Company.
PNB Gilts Ltd., a subsidiary of the Bank, is engaged in the business of trading in Govt. securities, treasury bills and Non SLR Investments. It is also engaged in dealing in Money Market Instruments (Call/Notice/Term Money, Repo /Reverse Repo, Inter-corporate Deposits, Commercial Paper, Certificate of Deposit) and Mutual Funds Distribution. The company is listed at NSE and BSE.
PNB Investment Services Ltd, a wholly owned subsidiary, has been set up by the Bank for carrying out Merchant Banking Business. It provides services for Project Appraisal, Loan Syndication, Debt Placement and to executes IPOs/FPO/QIPs. PNBISL is registered with SEBI as a Category- I Merchant Banker.
The Bank is holding majority stake in above company, jointly with Vijaya Bank, minor shareholder.
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