Page 6 - Pnb

Stocks to watch: RIL, TCS, Bharti Airtel, PNB, Vedanta, NMDC, JK Tyre

Stocks to watch on June 22, 2023: From Reliance Industries to Tata Consultancy Services, here are the top stocks to watch in Thursday's trading session

PNB's unsecured loan exposure within regulatory norms, says MD & CEO

'We do not have much exposure to unsecured loans as compared to our peers'

Bombay HC pulls PNB for inaction on diamantaire Nirav Modi's loan frauds

The Bombay High Court has pulled up the Punjab National Bank (PNB) for not taking steps to recover the huge amounts of money availed as loans by the fugitive diamantaire Nirav Modi.

CBI files FIR against Gujarat firm for Rs 1,518L fraud against PNB

CBI has filed an FIR against Gujarat-based Eternal Motors Pvt Ltd, its promoter and others for allegedly cheating the Punjab National Bank for an amount of Rs 1,518 lakh, an official said

PNB to raise funds via share sale under Employee Stock Purchase Scheme

State-owned Punjab National Bank (PNB) has proposed to raise funds from the sale of up to 15 crore shares under its Employee Stock Purchase Scheme (ESPS). At the current market price, PNB would raise up to Rs 780 crore from the scheme. The bank proposes to issue and allot up to 15 crore new equity shares of the face value of Rs 2 each, ranking pari passu with the existing equity shares for all purposes and in all respects, including payment of dividend, under an ESPS in one or more tranches, PNB said in a notice regarding the annual general meeting. The meeting will be held on June 30, according to the bank. PNB-ESPS would be issued at such price or prices, and on such terms and conditions as may be deemed appropriate by the board in such a way that the government shareholding does not come below 52 per cent. The government holding in the bank stood at 73.15 per cent as on March 31, 2023. In 2018, the bank raised Rs 500 crore from its employees under the staff stock purchase ...

PNB Housing well capitalised to support loan growth in FY24: Girish Kousgi

'The HFC recently entered the affordable segment, and disbursed around Rs 137 crore till the end of Q4 of 2022-23'

PNB Q4 net profit jumps fivefold to Rs 1,159 crore as interest income rises

Net NPAs stood at 2.72 per cent from 4.80 per cent a year ago and 3.30 per cent a quarter ago

PNB to infuse Rs 72.82 cr in its Bhutan subsidiary Druk via rights issue

State-owned Punjab National Bank on Thursday said it proposed to infuse Rs 72.82 crore in its Bhutan subsidiary Druk PNB Bank Ltd via a rights issue. The board has approved participation in the proposed rights issue of Druk PNB Bank Ltd (DPNBL), an overseas subsidiary of the bank, for an amount of Rs 72,82,80,000, PNB said in a regulatory filing. PNB holds 51 per cent in the subsidiary as of now. DPNBL was incorporated on December 31, 2008, with FDI participation, it said. The indicative time period for completion of the rights issue is by the end of August 2023, it noted. The proposed rights issue of DPNBL of Bhutan is at a premium of Rs 7 (face value of Rs 10) -- Rs 17 per share, the filing said. After participation in the proposed rights issue of DPNBL, the Bank's shareholding will remain the same at 51 per cent.

Punjab National Bank board nod to raise Rs 12,000 cr in capital in FY24

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

Godrej Security sees Rs 1,200 cr revenue by 2025, bets on landmarks, BFSI

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

PNB raises Rs 974 cr via AT1 bonds against indicative amount of Rs 2,000 cr

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

Stocks to Watch: RVNL, BEL, HAL, Campus Activewear, Vedanta, PNB, IT cos

Stocks to Watch: IT stocks may remain in focus as Accenture reported a revenue of $15.81 bn in Q2, beating its guidance of $15.2-15.75 bn. The giant also announced it will lay off 19,000 employees

Credit Suisse failure unlikely to spook AT-1 bond investors in India

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

WDRA, PNB ink MoU to for finance against negotiable warehouse receipt

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.

PNB makes Positive Pay System must for cheques worth more than Rs 5 lakh

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

PNB hikes FD interest rates by up to 30 basis points; check latest rates

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

PNB to raise Rs 800 cr in AT1 bond, instrument has 'AA+' from India Ratings

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

PNB, BoB raise lending rates by up to 25 bps following RBI rate hike

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

Moody's upgrades ratings for PNB, Canara Bank and Bank of Baroda to 'Baa3'

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

Vodafone Idea approaches banks for loans worth Rs 7,000 crore: Report

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