Page 15 - Punjab National Bank

Branch rationalisation to HR challenge: Brokerage view on PSB consolidation

Unlike private banks, most PSBs, analysts say, do not have clear specialisations and end up competing against each other

Government creates banking behemoths to boost India's flagging economy

News of the mergers comes minutes before official data is expected to confirm a fifth-straight quarter of slowing economic growth

Amalgamating 10 govt banks into 4 entities in mega consolidation move: FM

After today's mergers, the count of government-owned banks will come down to 12 from 27 in 2017

Public sector banks merger: Modi govt to announce big bang plan soon

Finance ministry has called a meeting with chief executives of ten public sector banks on Friday

UP govt to raise Rs 9,000 crore bank loan for two highway projects

The 296-km Bundelkhand Expressway and the 91-km Gorakhpur Link Expressway are estimated to cost Rs 14,849 crore and Rs 5,876 crore

Banks Board Bureau invites applications for post of CEO, MD in PNB, BoI

As per the BBB's recruitment notice, candidates can apply for the vacancies at PNB and BOI till September 16

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

RBI policy review: SBI cuts loan rates by 15 bps, others likely to follow

SBI reduced its marginal cost of funds-based lending rate from 8.4% to 8.25%

RBI fines PNB Rs 50 lakh for delay in reporting Kingfisher Airlines fraud

In a separate filing, Bank of Baroda said the RBI has imposed a fine of Rs 50 lakh on it for delay in reporting fraud in an account

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

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 recovers Rs 20,000 cr in bad loans, doubles amount from last year

The bank suffered losses allegedly after jewellers Nirav Modi, Mehul Choksi and some bank employees collided to defraud PNB of about Rs 1,000 crore. The scam was unearthed in February 2018

India Ratings downgrades Punjab National Bank's Rs 67.5-bn AT1 bonds

The rating agency has affirmed the bank's overall long-term issuer rating at AA+ and the short-term issuer rating at A1+

Punjab National Bank's FY20 aim: Find a page in investors' good books

Bank may need capital infusion; heavy write-offs cause heartburn

PNB could take control of OBC, Andhra Bank, Allahabad Bank: Reports

The govt has been trying to merge smaller regional state-run banks with better managed larger government-owned lenders as one way to reduce bad loans that stand at more than Rs 9 trn

PNB takes Tarapur Textiles Park to DRT for $13-million loan default

A PNB official said Tarapur Textile account had turned into a non-performing asset and PNBIL (PNB International Ltd) has initiated recovery proceedings against the borrower

Delhi court summons 11 top PNB officials for violating banking regulations

RBI said the accused willfully and deliberately gave false information in their compliance report

RBI imposes Rs 2-cr penalty on PNB for non-compliance of SWIFT operations

Earlier this year, the RBI had imposed penalties worth Rs 71 crore on 36 public, private and foreign banks

Why PNB's stock may not regain Street's confidence anytime soon

While Q3 numbers revealed some improvement in asset quality, the bank lags peers on this parameter

PNB aims to recover Rs 10,000 crore from bad loans in March quarter

State-run Punjab National Bank, which returned to the black in the December quarter with a modest profit after three successive quarters of massive losses, has set a target of recovering Rs 10,000 crore from bad loans in the March quarter. So far this fiscal year, the once-second largest lender had made recoveries worth Rs 16,600 crore from bad loans, the lender said. The New Delhi-based bank, which was hit hard by the Rs 14,000-crore Nirav Modi-Mehul Choksi scam in February 2018, had Tuesday pencilled in a net profit of Rs 247 crore for the December quarter. "We expect a recovery of Rs 10,000 crore from NPAs in which include Rs 6,000 crore from Bhushan Power & Steel and Essar Steel (both at the NCLTs) in the current quarter," managing director and chief executive Sunil Mehta told reporters after an analysts meet here. He said the balance Rs 4,000 crore of the planned recovery will be from smaller accounts as well as from a few NCLT accounts. Mehta said the bank ...