Page 21 - Punjab National Bank

CBI gets nod for supplementary extradition plea against Nirav Modi

The court posted the matter for further hearing on January 13

NCLT route ruled out for Suzlon Energy, lenders to set up escrow account

Barring one bank, all lenders are ready to convert more than 50% of the total debt into new debt

Bank consolidation: Non-anchor PSBs urge govt for new name after merger

United Bank of India has written to the Government seeking a new name for the entity formed out of its merger with Punjab National Bank and Oriental Bank of Commerce

PNB raises Rs 1,500 cr via bonds, funds to be used for business expansion

The lender has issued 15,000 redeemable Basel III compliant Tier II bonds in the nature of debenture of Rs 10 lakh each, it said

Top headlines: Cabinet nod to CDS, ex-Maruti MD accused of fraud, and more

CBI has accused ex-Maruti MD Jagdish Khattar of fraud, while the Union Cabinet has approved the creation Chief of Defence Staff

CBI accuses ex-Maruti MD Jagdish Khattar, his firm of Rs 110-cr bank fraud

Jagdish Khattar and his company accused of dishonestly and fraudulently selling goods pledged to Punjab National Bank.

Lenders to textile firm Sintex Industries reject $1 billion revamp plan

Banks to Sintex Industries, led by Punjab National Bank, were expecting at least 50% recovery on loans.

PNB under-reported bad loans by Rs 2,617 cr in FY19: RBI report

In a regulatory filing on Saturday, PNB said the divergence in gross non-performing assets (NPAs) assessed by the central bank stood at Rs 2,617 crore in FY19

PNB scam: Special court declares Nirav Modi a fugitive economic offender

He is the second businessman after Vijay Mallya to be declared a fugitive economic offender under provisions of the Fugitive Economic Offenders Act which came into existence in August last year

PNB case: Nirav Modi to appear before UK court on Jan 2 via videolink

The 48-year-old had moved yet another bail application last month with an 'unprecedented' house arrest guarantee

Loan melas a short-term salve, may come back to bite NPA-hit banks

Banking and policy experts said government lending schemes had a track record of skimping on due diligence, leading to higher-than-normal levels of bad loans

PSBs report Rs 95,700-crore frauds: Are banking frauds on the rise?

State Bank of India reported fraud of ₹25,400 crore followed by Punjab National Bank of ₹10,800 crore and Bank of Baroda of ₹8,300 crore

PNB, Union Bank get in-principal nod from govt for proposed merger

According to this, United Bank of India and Oriental Bank of Commerce will be merged with Punjab National Bank, making the proposed entity the second largest public sector bank (PSB).

CBI said to be filing fresh charges in $2-bn PNB scam involving Nirav Modi

Police filed their first charges in May last year and at the time detailed only some of the alleged fraudulent transactions to Modi and his associates

PNB slips over 6% as asset quality worsens in Q2, provisions rise 5% QoQ

The public sector lender's slippages jumped 38 per cent sequentially from Rs 5,412 crore reported in Q1FY20 to Rs 7,460 crore in the quarter under review, the bank's management said.

PNB reports net profit of Rs 507 crore in Q2; finances under stress

Provisioning related to bad loans went up to Rs 3,253 crore in Q2, up from Rs 2,147 crore in the previous quarter

How the RBI can get its act together

In the concluding part of the series, the author draws attention to the central bank's problems that need urgent fixing

PNB-UBI-OBC merger: Automated HR integration to quell staff discrimination

All transfers and promotions for next financial year will be decided by respective banks, not by the merged entity

Fugitive diamond trader Nirav Modi further remanded to custody till Nov 11

Modi has been lodged at Wandsworth prison in south-west London, one of England's most overcrowded jails

Corporate tax cut will not benefit banks: PNB MD & CEO S S Mallikarjuna Rao

In an interview with Somesh Jha, Rao spoke about the road map of the amalgamation and how the corporate tax cut and repo rate-linked products will impact the finances of banks