PNB Gilts Ltd. is a prominent player in the financial market specializing in the trading and underwriting of government securities. Founded by Punjab National Bank, this company was established to enhance the secondary market activity in government securities and to build a stable structure for the development of the Fixed Income market in India. PNB Gilts Ltd. primarily engages in activities such as government securities trading, dealing in treasury bills, and handling bond issuances, acting as a primary dealer authorized by the Reserve Bank of India. With a key role in ensuring liquidity in the government securities market, PNB Gilts Ltd. contributes to the smooth functioning of monetary policy operations. The firm serves as an intermediary facilitating investments for institutional clients such as banks, mutual funds, and insurance companies, thereby impacting the broader financial system. Its market significance lies not only in its capacity to facilitate government borrowing but also in its ability to aid in the pricing and distribution of risk instruments, helping to stabilize interest rates and maintain an efficient capital market.