Page 7 - Pnb

Top events today: Jio Fiber launch, PNB to consider capital infusion & more

From Reliance Jio Fiber launch to SC hearing of P Chidambaram's plea, Business Standard brings you top events of the day

Moody's upgrades PNB's outlook to 'positive' from 'stable'

It also affirmed the local and foreign currency deposit ratings of Canara Bank, OBC, Syndicate Bank and Union Bank at Baa3/P-3

PNB recovers Rs 278-cr minimum balance penalty from poor account holders

This amount has been recovered from about 12.7 million customers across the country

PNB Housing Finance raises Rs 690 crore from IFC through ECB route

This is the maiden fundraising via the ECB route in 2019-20 by PNB Housing Finance. The company further said that other ECB proposals are in the pipeline

Punjab National Bank plans to raise Rs 5,000-crore equity capital

The decision in this regard was taken in the board meeting held Thursday, PNB said in a regulatory filing

Allahabad Bank reports Rs 1,744-cr fraud by Bhushan Power & Steel to RBI

Allahabad Bank further said it has been observed that the company has misappropriated bank funds, and manipulated books of accounts to raise funds from consortium lender banks

PNB detects Rs 3,800-cr fraud by Bhushan Power & Steel Ltd, reports to RBI

Public sector lender Punjab National Bank said Saturday it has detected a fraud of more than Rs 3,800 crore by Bhushan Power & Steel Ltd (BPSL) and has reported it to the Reserve Bank of India (RBI). PNB said Bhushan Power & Steel Ltd misappropriated bank funds and manipulated its books of accounts to raise funds from consortium lender banks. "On the basis of forensic audit investigation findings and CBI filing FIR, on suo moto basis, against the company and its directors, alleging diversion of funds from banking system, a fraud of Rs 3,805.15 crore is being reported by bank to RBI," Punjab National Bank (PNB) said in a regulatory filing. "It has been observed that the company has misappropriated bank funds, manipulated books of accounts to raise funds from consortium lender banks. At present, the case is at NCLT which is in advance stage and the Bank expects good recovery in the account," PNB added. PNB said the bank has already made provisions amounting to Rs 1,932.47 crore,

PNB scam: Singapore HC freezes Nirav Modi' sister's bank account

The high court had ordered freezing the balance of $6.122 million (Rs 44.41 crore) on the request of the Enforcement Directorate (ED)

SC to consider Centre's plea against HC order on Choksi's medical report

The high court had taken note of the submission that Choksi was not keeping well and had sought his medical report

PNB to mop up Rs 10,000 crore from non-core asset sale, rights issue

In 2018-19, PNB's recovery more than doubled to Rs 20,000 crore from Rs 9,666 crore in 2017-18

PNB decides not to sell stake in housing finance wing, calls off pact

The bank, in a filing to the exchange, said it will continue to be the sole promoter of PNB Housing Finance post the termination of the pact

PNB to sell part stake in housing finance arm for Rs 1,852 crore

Both VardePartners and General Atlantic Group will buy 1.089 crore shares each at Rs 850 per share in the housing finance company

PNB to sell stake in PNB Housing to General Atlantic, Varde for Rs 1,851 cr

PNB has entered into an agreement to sell 1,08,91,733 equity shares held in PNB Housing Finance Ltd to Varde Partners at a price of Rs 850 per share, aggregating to Rs 925.80 crore

Fraud-hit PNB bounces back into black with Rs 246-crore profit in Q3

Had suffered Rs 4,530-crore net loss in the second quarter of the current fiscal

PNB decides national anthem will be sung at every Annual General Meeting

According to Reserve Bank of India and Securities and Exchange Board of India rules, it is not mandatory for shareholders to sing the national anthem at AGMs and EGMs

Eight PNB employees of Mumbai's Brady house branch arrested for fraud

The case is different from a much bigger one involving billionaire jeweller Nirav Modi and his associates.

Fitch removes PNB from rating watch negative; lender's NPA ratio peaks

Lender's profitability remains under pressure, says ratings agency

Sebi exempts govt from making an open offer in PNB capital infusion

The capital infusion is part of the government's programme to help the bank in meeting capital adequacy norms

PNB hikes MCLR by 5 bps from November 1, retail loans to be costlier

The benchmark one-year MCLR rate -- on which most of the retail loans are based--stands increased to 8.50 per cent

PNB scam: Antigua and Barbuda examining Mehul Choksi's extradition request

External Affairs Minister Sushma Swaraj had met Foreign Minister of Antigua and Barbuda E P Chet Greene last month on the sidelines of the 73rd session of the UN General Assembly