PNB bond holdings of short maturity, less prone to rising yields: MD Goel

In a Q&A, Atul Kumar Goel says the lender has not sought any special dispensation from RBI to provide for MTM losses amid rising bond yields

Punjab National Bank’s bond portfolio will be less impacted by interest rate hikes as the lender’s exposure is skewed towards shorter duration papers, its managing director Atul Kumar Goel told Nikunj Ohri and Abhijit Lele in an interview. PNB has not sought any special dispensation from the Reserve Bank of India (RBI) to provide for mark to market (MTM) losses amid rising bond yields, Goel said. The bank has sought extension from Irdai to sell its stake in Canara HSBC OBC Life Insurance Company Ltd (CHOICE) until March 31, 2023.

With the Federal Reserve anticipating more interest rate hikes, will