Page 6 - Punjab National Bank

Stocks to Watch today: RIL, Voda Idea, SBI, Adani, TTML, Jaiprakash Power

Stocks to Watch on Friday, October 27, 2023: Tata Sons, the holding company of the Tata group, will have to infuse an additional Rs 2,055 crore in its loss-making subsidiary Tata Teleservices

Punjab National Bank profit zooms 327% to Rs 1,756 crore in Q2FY24

NII expanded by 29 per cent year-on-year to Rs 9,923 crore in Q2FY24. Sequentially, NII rose from Rs 9,544 crore in Q1FY24

PNB Q2 results: Net profit surges 327% to Rs 1,756 cr, gross NPAs at 6.9%

PNB Q2 results: The bank's gross non-performing assets (NPAs) fell to 6.96% as of September 30, as compared to 7.73% in the previous quarter

PNB hits over 4-year high, zooms 33% in 1 month; mcap nears Rs 1 trillion

At 02:55 PM, PNB's market cap stood at Rs 90,048 crore

REC partners with PNB to finance projects in logistics, power, infra

The two entities will jointly finance loans worth Rs 55,000 crore, REC said in a statement.

Lenders likely to hike deposit rates up to 25 bps this festival season

Only those with asset-liability management mismatch would consider upward rate revisions

As credit growth outpaces deposits, banks may increase interest on FD

Bank deposits have gone up by 6.6 per cent to reach Rs 149.2 trillion during the April-August 2023 period, whereas the credit growth for the same period was 9.1 per cent

PNB introduces CBDC-UPI interoperability for seamless transactions

State-owned Punjab National Bank (PNB) on Tuesday announced the launch of Central Bank Digital Currency (CBDC) with Unified Payments Interface (UPI) interoperability feature in its digital rupee mobile application. This move is in line with the RBI's CBDC pilot project and unleashes a new potential in India's payment ecosystem, PNB said in a statement. PNB customers can now use the PNB digital rupee app to scan the UPI QR code for payment to their merchants or complete a transaction at a merchant outlet, it said. Even if the merchants do not have a CBDC Wallet, PNB digital rupee app users can utilise their CBDC wallets to conduct transactions on the UPI QR of these merchants, it added. The app with this new functionality is currently available for Android users on the Play store and will also be made live for iOS users, it said.

PNB launches app to enable MSMEs access instant loans using GST invoices

State-owned Punjab National Bank (PNB) on Wednesday said it has launched a mobile application based on the GST Sahay scheme, an endto-end digital product under which lending can be done using GST invoices. With this integration, PNB has become the first public sector bank to facilitate frictionless credit flow to MSMEs using GST invoices, the bank said in a statement. The initiative is also in line with the bank's strategy to further the development of the MSME sector and digital credit ecosystem in the country. The PNB GST Sahay App makes the entire loan process digitised and helps eliminate any manual intervention for borrowers and makes the process more cost-effective, fast, and smooth, it said. Through this service, the loan amount will be directly credited into the borrower's current account with the bank. Speaking at the launch of PNB GST Sahay App, the bank's MD Atul Kumar Goel said, "our bank has been a pioneer in serving top industrialists as well as the masses and provid

ACC, HDFC AMC, three other companies to be excluded from Nifty Next 50

Five firms, including ACC Ltd, HDFC Asset Management Company and FSN E-Commerce Ventures that runs Nykaa, will be dropped from Nifty Next 50 index from September 29. NSE Indices Ltd, an arm of the National Stock Exchange, on Thursday said that Indus Towers and Page Industries will also be dropped from the index. Punjab National Bank, Trent, Sriram Finance, TVS Motor Company, and Zydus Lifesciences will be included in the Nifty Next 50 index, NSE Indices said in a statement. NSE Indices' Index Maintenance Sub-Committee (IMSC) decided to make the changes with effect from September 29 as a part of a semi-annual review. In addition, changes have been announced in several indices -- Nifty 500, Nifty 100, Nifty Midcap 150, Nifty Small Cap 250, Nifty Midcap 50, Nifty Midcap 100, Nifty Smallcap 50, and Nifty Smallcap 100. However, no changes were announced in the NSE's benchmark index Nifty 50. NSE Indices also revised the eligibility criteria for several sectoral indices, including Nift

PNB Q1 Result: Net soars 307% to Rs 1,255 crore on interest income

Sequentially, the net profit of the Delhi-based public lender jumped 8.3 per cent from Rs 1,159 crore reported in the 2022-23 January-March quarter

'Enhanced monitoring has helped PNB reduce slippages and enhance recovery'

The capital adequacy of the bank is at 15.54 per cent as against the requirement of 11.5 per cent

PNB Q1FY24 results: Net profit up 307% to Rs 1,255.4 cr YoY, GNPAs at 7.73%

PNB's net NPAs also declined to 1.98% in the June quarter from 2.72% in the previous quarter

PNB Housing Q1 FY24 results: Net profit rises 48% YoY to Rs 347 crore

PNB Housing Q1 results: The revenue from operations for the company also recorded a YoY rise of 20.55 per cent compared to the same period last year

PNB launches 'Project PNB PALAASH' for environmental sustainability

Punjab National Bank (PNB) on Monday announced the launch of its environmental initiative 'PNB Palaash', an eight-month period campaign to embrace sustainability. The campaign would lead to cost savings and operational efficiencies through measures such as energy and resource conservation, paper reduction, waste management and streamlined digital processes, PNB said in a statement. Acknowledging the need for integrating sustainability into every aspect of lives, PNB managing director Atul Kumar Goel said, "As a leading bank in the industry, undertaking environment-friendly initiatives not only aligns with our corporate social responsibility but also presents significant opportunities for business growth." The primary objective of this project is to actively contribute to conservation endeavours, foster the adoption of sustainable practices, and promote active employee engagement, he said. Under this initiative, it said, one lakh plus employees of PNB will plant minimum two saplings

Punjab National Bank infuses Rs 72.83 crore in its Bhutan subsidiary

State-owned Punjab National Bank on Friday said it has infused Rs 72.82 crore in its Bhutan subsidiary Druk PNB Bank Ltd via a rights issue. The investment in Rights Issue has been made on July 7, 2023 through participation in the issue of Druk PNB Bank Ltd (DPNBL), PNB said in a regulatory filing. Following the rights issue, PNB retains 51 per cent in the subsidiary as of now. DPNBL was incorporated on December 31, 2008, with FDI participation, it said. The rights issue of DPNBL of Bhutan was at a premium of Rs 7 (face value of Rs 10) -- Rs 17 per share, the filing said.

PNB announces UPI payments with IVR-based technology 'UPI 123PAY'

State-owned Punjab National Bank (PNB) on Tuesday announced the launch of UPI 123PAY, an IVR-based UPI solution. This offering aligns with the Digital Payment Vision 2025, propelling the nation towards a cashless and cardless society, PNB said in a statement. The Unified Payments Interface (UPI) has revolutionised the way transactions are conducted in India, providing customers with a seamless, secure, and real-time payment experience, it said. However, until now, UPI services were primarily accessible through smartphones or Unstructured Supplementary Service Data (USSD), reliant on robust internet connectivity, it said. This limitation hindered access to UPI for users without smartphones or residing in low internet connectivity zones, it added.

Punjab National Bank raises Rs 3,090 cr from bonds to fund business growth

State-owned Punjab National Bank on Friday said it has raised Rs 3,090 crore from Basel III compliant Tier-II capital Bonds to fund business growth. These bonds would carry a coupon rate of 7.74 per cent per annum, PNB said in a regulatory filing. The issue closed on June 27, and allotment of bonds was made on Friday, it added.

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PNB, LIC, SBI and BoB looking to seek formal bids for stake sale in UTI AMC

These entities have already appointed merchant bankers to initiate the sale process in UTI AMC