PNB

The indicative time period for completion of the rights issue is by the end of August 2023, it noted

It would raise capital by issuing AT-1 bonds upto Rs 7,000 crore and tier- II Bonds up to Rs 5,000 crore, in one or more tranches

Company's systems used at Taj Mahal, Qutub Minar and by State Bank of India, Punjab National Bank

Hardening yields drives decision to raise lower amounts; Bond market sources said coupon was firmed up at 8.75%

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PNB likely to issue AT-1 bonds worth Rs 2,000 cr this week; yields not seen surging

Warehousing Development Regulatory Authority (WDRA) has signed an MoU with PNB to facilitate loans to farmers and traders against negotiable warehouse receipts. According to an official statement, the Memorandum of Understanding (MoU) was exchanged in the presence of T K Manoj Kumar, Chairperson, WDRA; Mukesh Kumar Jain, Member, WDRA; Atul Kumar Goel, MD & CEO, PNB; Sunil kumar Chug, CGM, PNB and other senior officers of WDRA and PNB. The MoU was signed to promote awareness about finance against e-NWRs (electronic Negotiable Warehouse Receipt) with features such as no additional collateral and attractive interest rates. The MoU is aimed at providing information to depositors of the benefits, besides doing further outreach activities to improve agricultural pledge finance in India. "It is envisaged that the product will have far reaching consequences with regard to acceptance of e-NWRs among small and marginal farmers," the statement said.

In a move to safeguard customers from fraudulent payment of cheques, state-owned Punjab National Bank (PNB) has made the Positive Pay System (PPS) compulsory for cheque payments worth Rs 5 lakh and above. This will come into effect from April 5, 2023, PNB said in a statement. Earlier, the mandatory submission of cheque details in PPS was set at Rs 10 lakh and above. The PPS is a system developed by the National Payments Corporation of India (NPCI), which requires customers to reconfirm essential details (account number, cheque number, cheque alpha code, issue date, amount, and beneficiary name) when issuing cheques of a certain amount, it said. This adds an extra layer of security against any potential risk while processing such cheques, it said. Customers can use the PPS facility by providing the cheque details through Branch office, Online Banking for individuals and businesses, Mobile Banking (PNB ONE), or SMS Banking, it said, adding, the details to be submitted one working da

Additionally, for FDs maturing between two and three years, the interest rates have been increased by 25 bps to 7% from 6.75%

The Delhi-based lender has board approvals in place to raise Rs 12,000 crore in capital in FY23 through bond issuances

Leading public sector lenders Punjab National Bank (PNB) and Bank of Baroda (BoB) have raised their lending rates by up to 25 basis points following the interest rate hike by Reserve Bank earlier this week. PNB in a regulatory filing said it has effected a 25 basis point increase in the Repo Linked Lending Rate (RLLR) from 8.75 per cent to 9 per cent effective from Thursday. The Reserve Bank on Wednesday hiked the benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation. It was the sixth time the interest rate has been hiked by the Reserve Bank of India (RBI) since May last year, taking the total quantum of increase to 250 basis points. BoB increased its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points across all tenures. The new rates are effective from February 12, BoB said in a regulatory filing. After the latest revision, its MCLR has risen from 7.85 per cent to 7.90 per cent for the overnight tenure. The MCLR for one month has

India's improving macros, banks improving credit profile trigger upgrade

The lenders have, however, sought clarity from the telco on the Government's potential shareholding and its plans to infuse capital in Vi

Punjab National Bank (PNB) on Tuesday increased the interest rate of fixed deposits across various tenures by 50 basis points or 0.5 per cent in a bid to attract deposits. Interest rates on term deposits below Rs 2 crore between one year and three years have been raised by 50 basis points to 6.75 per cent from earlier rate of 6.25 per cent, PNB said in a statement. The bank said that new rates of FDs are effective from January 1, 2023. It has also said that senior citizens will be getting an additional 50 basis points hike in interest rate of fixed deposits on any domestic deposit maturities which is worth less than Rs 2 crore. On PNB Uttam Scheme with no premature withdrawal option, the rate has been revised to 6.80 per cent from 6.30 per cent, it said. Apart from the revised interest rates, it said, the bank will continue to offer attractive interest rates 8.1 per annum for fixed deposit of 666 days.

At 11:35 am; Nifty PSU Bank index, the top gainer among sectoral indices, was up 2 per cent, as against 0.06 per cent decline in the Nifty50

Public sector lender Punjab National Bank (PNB) has raised Rs 582 crore by issuing bonds on a private placement basis. The bank has issued and allotted Basel III compliant Additional Tier I bonds at a coupon of 8.40 per cent per annum, aggregating to Rs 582 crore on a private placement basis, the bank said in a regulatory filing on Friday. The bank said the non-convertible taxable bonds will qualify as Tier I capital.

CBI on Thursday registered a case on complaint from Punjab National Bank (PNB) against its former manager, and others including two private companies, for allegedly committing a fraud of Rs 168.59 cr

According to the technical analyst from Anand Rathi, Balrampur Chini can rally to Rs 435, while PNB is likely to hit Rs 68.

Three fresh FIRs have been filed by the CBI against absconding diamantaire Mehul Choksi on the basis of a complaint from the Punjab National Bank (PNB), bringing to light an additional loss of Rs 6,746 crore incurred by it and other banks of a consortium, officials said. Four years after Choksi's dramatic escape and the failure of the state-run PNB to detect the scam between 2010 and 2018, the bank submitted three complaints to the CBI on March 21, reporting the additional loss caused by the diamantaire and his firm Gitanjali Gems Limited, Nakshatra Brands Limited and Gili India Limited. The PNB and the other members of the consortium had extended credit facilities to these companies. Choksi's counsel Vijay Aggarwal told PTI that it was a "witch hunt". "When one FIR has been lodged and a chargesheet filed for the total loss to the banks, how can there be a separate FIR now for every small transaction?" he asked. "Going by that logic, if they claim a total loss of Rs 13,000 crore,

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