Category: Punjab National Bank

Bhushan Power & Steel fraud: After PNB, Allahabad Bank reports misappropriation of funds

Source: financialexpress.com Days after Punjab National Bank (PNB) announced the detection of the Rs 3,805 crore fraud by Bhushan Power & Steel Ltd (BPSL), another public sector lender Allahabad Bank has reported misappropriation of funds by the private firm. Days after Punjab National Bank (PNB) announced the detection of the Rs 3,805 crore fraud by

D-Street Buzz: Auto stocks rise led by Hero Moto, Tata Motors; PNB, SBI add 2% each

Source: moneycontrol.com Nifty is trading higher by 84 points at 11,583 level while the Sensex jumped 289 points and is trading at 38,846 level in this afternoon session. Nifty Auto gained 1.5 percent led by Hero MotoCorp which jumped over 4 percent followed by Bharat Forge, Tata Motors, Mahindra & Mahindra, Maruti Suzuki and TVS Motor Company. Media

Monday mayhem on D-Street: PSU Bank index tanks 5% dragged by PNB; Maruti hits 2-yr low

Source: moneycontrol.com Indian benchmark indices are down over 1.5 percent each dragged by the Auto and the PSU Bank index. The major contributors to the fall are Maruti Suzuki and Punjab National Bank. Nifty is down 197 points and is trading at 11,614 level while the Sensex plunged 627 points and is trading at 38,886 level. Nifty PSU

Budget 2019 proposes Rs 70,000 crore towards recapitalisation of public sector banks

Source: financialexpress.com By Mitali Salian Budget 2019 India: The Union Budget has proposed setting aside Rs 70,000 crore in the current financial year towards recapitalisation of public sector banks (PSBs) with a view to boosting credit, which has been growing at around 13% year-on-year (y-o-y). Over the last couple of years, overall business growth has