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

Punjab National Bank’s (PNB’s) integration with Oriental Bank of Commerce (OBC) and United Bank of India (UBI) came at a time when the country was in lockdown to mitigate the impact of the coronavirus disease (Covid-19). On the eve of PNB’s 126th foundation day, the bank’s Managing Director and Chief Executive Officer SS Mallikarjuna Rao tells Somesh Jha about the pandemic’s impact on customer outreach programmes related to the amalgamation. Edited excerpts:

Which sectors have been most affected by Covid-19?

We have seen an impact on apparel and textiles, auto and auto components, aviation, tourism, and financial sectors — including non-banking finance