In common parlance a scholar, specially one learned in the Sastras, one who has read many books and can expound and explain is a pundit. There is also a special meaning for "Pundit"- one who is unmoved by sorrow, who can look at all things impartially. Such a man looks at Brahmins, cows and elephants as well as dogs and dog-eaters with equanimity. Such poise is achieved only on experiencing in all creation the omnipresence of God. He perceives the Supreme Lord everywhere, shapes or body as Vishnu, action as Vasudeva, and `Antaratma' inner self as Narayana. For him, the illusory world vanishes, and Brahma, the truth, is ever present.
Worldly people, the non-pundits, lament over the death of some people. What is more, they lament that some others are alive. When one sees in the dead, and not yet dead the Lord eternal, both kinds of laments disappear, and only the sense of being remains. This is the state of liberation, birthless and deathless. This is the true meaning of "Pundit".
Courtesy : Mihira