Page 16 - Punjab National Bank
PNB buys 3 Audi cars worth Rs 1.34 cr for management amid Covid-19 crisis
Interestingly, the secretaries in the union government and even Cabinet ministers use Maruti Suzuki Ciaz, much less expensive than German car Audi purchased by PNB
 "PNB buys 3 Audi cars worth Rs 1.34 cr for management amid Covid-19 crisis")
PMLA court orders seizure of Nirav Modi's assets worth Rs 1,400 crore
Court also allows banks to lay claims for secured assets out of these confiscated assets
 "PMLA court orders seizure of Nirav Modi's assets worth Rs 1,400 crore")
PSBs disburse Rs 8,320 cr loan to MSMEs under emergency credit scheme
On May 21, the Cabinet had approved additional funding of up to Rs 3 trillion at a concessional rate of 9.25 per cent through ECLGS for the MSME sector
 "PSBs disburse Rs 8,320 cr loan to MSMEs under emergency credit scheme")
Punjab National Bank reduces lending rate linked to repo by 40 bps
The bank's marginal cost of funds-based lending rate (MCLR) has also been revised downwards by 15 bps across all tenors.
Market Ahead, May 28: Top factors that could guide markets today
A total of 24 companies, including TVS Motor, Lupin, and Federal Bank, are scheduled to announce their March quarter results today
 "Market Ahead, May 28: Top factors that could guide markets today")
Irdai allows PNB to hold more than 10% promoter stake in 2 insurance firms
The insurance regulator has allowed PNB to keep its shareholding in both the insurance companies intact for now
 "Irdai allows PNB to hold more than 10% promoter stake in 2 insurance firms")
Nirav Modi a visionary who wanted to create something unique: World-renowned luxury good executive tells London court
Fritsch described Modi as someone who "combined entrepreneurship and creativity" and never "doubted his integrity"
 "Nirav Modi a visionary who wanted to create something unique: World-renowned luxury good executive tells London court")
Case against Nirav Modi very short on proof, his legal team tells UK court
The 49-year-old jeweller is wanted in India on charges of defrauding PNB by deceitfully obtaining letters of undertaking (LoUs), or bank guarantees
West Bengal's SLBC to increase rural loans from Rs 4400 cr to Rs 10000 cr
In addition, West Bengal will also request the Reserve Bank of India (RBI) to increase the additional credit limit to MSMEs, to 30 per cent from the existing 10 per cent.
 "West Bengal's SLBC to increase rural loans from Rs 4400 cr to Rs 10000 cr")
BoB NPAs surge six-fold, Indian Bank sees four-times rise in 6 years: RTI
The number of NPA accounts rose from 2,08,035 as of March 31, 2014, to 6,17,306 as of December 2019
 "BoB NPAs surge six-fold, Indian Bank sees four-times rise in 6 years: RTI")
One month of bank merger: Coronavirus lockdown proves a dampener
On April 1, Punjab National Bank (PNB) took over Oriental Bank of Commerce (OBC) and United Bank of India (UBI) to become the country's second-largest lender after SBI in terms of business
 "One month of bank merger: Coronavirus lockdown proves a dampener")
Bank liable for unauthorised online transaction
The National Commission observed that there was a security breach of the bank's net banking system
Post merger, PNB gets Irdai nod to retain stake in two life insurance cos
PNB also has a tie up with Life Insurance Corporation of India (LIC) for selling its products through the bank's branches
Covid-19 crisis led to Rs 4,000-cr fresh NPAs: PNB MD CEO Mallikarjuna Rao
He says there can be an impact on profitability as there will be more NPAs
 "Covid-19 crisis led to Rs 4,000-cr fresh NPAs: PNB MD CEO Mallikarjuna Rao")
Why the three-month moratorium on your home loan EMI may not be a good idea
Many lenders also advised borrowers not to make use of the moratorium offer in case they were in a position to pay their instalments on the due date
 "Why the three-month moratorium on your home loan EMI may not be a good idea")
Covid-19 relief: You can defer 3 EMIs but that may be a very costly option
SBI informed customers that in some cases, deferring 3 EMIs on a home loan may force the borrower to pay 8 more EMIs
 "Covid-19 relief: You can defer 3 EMIs but that may be a very costly option")
Bank merger: Will approach markets for capital in Q3, says Mallikarjuna Rao
The ecosystem is favourable to us because of the developments over the last two months. Therefore, we will have to work in converting that confidence into business relationships, says Rao
 "Bank merger: Will approach markets for capital in Q3, says Mallikarjuna Rao")
Market Ahead, April 1: Top Factors That Could Guide Markets Today
Starting today, automobile companies will starting releasing sales numbers for March. According to a Business Standard report, these auto sales for the month could see a 50 per cent YoY
 "Market Ahead, April 1: Top Factors That Could Guide Markets Today")
Coronavirus outbreak disrupts PSB merger as banks put programmes on hold
According to the banks, they have either put the sessions on hold or are opting for e-learning instead of classroom sessions.
 "Coronavirus outbreak disrupts PSB merger as banks put programmes on hold")
Govt notifies YES Bank rescue scheme; moratorium to be lifted on March 18
Three-year lock-in period for investors
 "Govt notifies YES Bank rescue scheme; moratorium to be lifted on March 18")
