Page 14 - Punjab National Bank
PNB hikes repo-linked lending rate by 15 bps to 6.8%, effective from Sept 1
The country's second largest lender Punjab National Bank (PNB) on Monday hiked its repo-linked lending rate (RLLR) by 15 basis points (bps) to 6.80 per cent.
 "PNB hikes repo-linked lending rate by 15 bps to 6.8%, effective from Sept 1")
Unlock BFSI 2.0: Early to predict the economic recovery curve: Bank CEOs
Top bank executives attempted to shed the tag of being risk-averse and averred that viable businesses would get the red carpet from lenders
 "Unlock BFSI 2.0: Early to predict the economic recovery curve: Bank CEOs")
Banks 'prudent, careful' as economic recovery will take long: CEOs
The bankers were responding to RBI governor Shaktikanta Das's statement that banks risked their own growth by being "extremely risk averse"
 "Banks 'prudent, careful' as economic recovery will take long: CEOs")
Nirav Modi case: PNB receives Rs 24 cr as first tranche of recovery from US
The central government said that PNB has informed the Ministry of Corporate Affairs that it has received 3.25 mn as the first tranche of recoveries in fugitive Nirav Modi case from the USA
 "Nirav Modi case: PNB receives Rs 24 cr as first tranche of recovery from US")
PNB makes first recovery of Rs 24 cr in Nirav Modi fraud case in US
This was the maiden corporate fraud case abroad that MCA intervened in; Rs 82 cr in all will be distributed among unsecured creditors, including PNB, after assets of tainted group are liquidated
 "PNB makes first recovery of Rs 24 cr in Nirav Modi fraud case in US")
PNB expects 4-6% credit growth this fiscal, says Mallikarjuna Rao
Punjab National Bank on Monday said its overall credit growth is likely to be at around 4-6 per cent in the current fiscal year as it expects the economy to return to normalcy from October onwards.
 "PNB expects 4-6% credit growth this fiscal, says Mallikarjuna Rao")
SBI, PNB, BoB may go for share sale in FY21 to shore up capital: Report
According to the sources, banks would get a better picture about their Non-Performing Assets (NPAs), one-time loan restructuring and consequent ratings latest by the end of October
 "SBI, PNB, BoB may go for share sale in FY21 to shore up capital: Report")
PNB net profit plunges to Rs 308 cr in June qtr, income at Rs 24,292.8 cr
Total income rose to Rs 24,292.80 crore during the June quarter of 2020-21, as against Rs 15,161.74 crore in the same period of the previous fiscal
 "PNB net profit plunges to Rs 308 cr in June qtr, income at Rs 24,292.8 cr")
High Court stays BoB, PNB move to classify RCFL, RHFL as fraud accounts
The Delhi High Court in a separate petition also directed Punjab National Bank to maintain the status quo in relation to classifying RCFL's account as a fraud
 "High Court stays BoB, PNB move to classify RCFL, RHFL as fraud accounts")
Digital Apnayen: PNB launches campaign to encourage digital banking
The campaign launched by the bank's Managing Director S S Mallikarjuna Rao on the occasion of Independence Day is till March 31, 2021
PSB shares in focus; Nifty PSU Bank index jumps 4%; PNB, SBI gain up to 5%
Central Bank of India, Indian Bank, Canara Bank, J&K Bank, and Indian Overseas Bank were up in the range of 1.9 and 2.7 per cent
 "PSB shares in focus; Nifty PSU Bank index jumps 4%; PNB, SBI gain up to 5%")
Hardayal Prasad named MD & CEO of PNB Housing, takes charge on Monday
A banker with experience in international operations and credit card, he replaces incumbent Neeraj Vyas
 "Hardayal Prasad named MD & CEO of PNB Housing, takes charge on Monday")
Cut stake in top public sector banks to 51% in 12-18 months: RBI to govt
Proposal to prune stake to 51% in six banks may fetch over Rs 43,000 crore
 "Cut stake in top public sector banks to 51% in 12-18 months: RBI to govt")
Market Ahead, July 30: All you need to know before the opening bell
The quarterly results announcement by Reliance Industries and HDFC will be the major market mover today. Analysts expect a dent in RIL's retail and energy verticals in the June quarter
 "Market Ahead, July 30: All you need to know before the opening bell")
Punjab National Bank's UK unit wins court battle over unpaid loans
The case by the UK subsidiary of PNB is seen as a landmark decision for similar cases involving wilful defaulters who are residing in or have assets in the UK
Punjab National Bank raises Rs 994 cr by issuing Basel III compliant bonds
The issue opened on July 27 and closed on July 29, PNB said
PNB, Carlyle to remain invested in PNB Housing, says CEO Neeraj Vyas
The company is cautious on lending to construction, gems and jewellery, hospitality and aviation sectors, says executive
 "PNB, Carlyle to remain invested in PNB Housing, says CEO Neeraj Vyas")
Bankers divided on extending moratorium, fear potential spike in bad loans
Without regulatory intervention, slippages could surge 300 bps
 "Bankers divided on extending moratorium, fear potential spike in bad loans")
PNB to focus on self-service, automation to deal with Covid-19 setbacks
MD Rao said 2019-20 started with an overarching goal towards 'Year of Profitability and Creating Value', leaving the adversities of the previous financial year behind
Loss-making banks back to black but little to cheer
Pain and uncertainty will be a way of life for many banks in 2021. For a few, the light at the end of the tunnel has turned into a flicker
