Category: Punjab National Bank

PNB share jumps over 3% on Moody’s upgrade; SBI, ICICI Bank fall on RBI directive to link lending rates

Source: Shares of Punjab National Bank (PNB) jumped over 3 per cent in intraday trade on the Bombay Stock Exchange (BSE) on Thursday after global rating agency Moody’s upgraded the outlook on the lender to ‘positive’ from ‘stable’. In contrast, the S&P BSE Bankex index was trading 259.18 points, or 0.85 per cent, lower at

D-Street Buzz: FM’s booster dose propels PSU banks higher; escalating trade war hammers metal stocks

Source: oneycontrol.com Despite global markets in foul mood, Indian benchmark indices are trading on a positive note after Finance Minister Nirmala Sitharaman on August 23 unveiled a slew of measure to boost growth, increase liquidity, and revive consumer and investor sentiment in the Indian economy. Measures such as removal of surcharge on foreign portfolio investors (FPI)

Govt moves to appoint heads of BoI, BoB, PNB and Canara Bank

Source: livemint.com The government has initiated the process of filling up upcoming vacancies in the top management of large public sector banks (PSBs), unlike last year when several top banks remained headless for months. The Banks Board Bureau (BBB) has invited applications for the post of managing director (MD) and chief executive officer (CEO) in four leading

Bank stocks fall up to 40% since Budget. Is it a good time to buy?

Source: business-standard.com The overall economic slowdown and the surcharge-related concerns for foreign portfolio investors (FPIs) amid weak global cues cast its shadow on the market sentiment, especially the banking stocks that have taken a hard knock since the presentation of the Union Budget on July 5. Given the developments, analysts say the road ahead for these stocks

Public sector banks hold 2-day meet to generate ideas for growth

Source: thehindubusinessline.com Public sector lenders, including Punjab National Bank (PNB), Bank of Baroda (BoB) and Corporation Bank, organised a two-day consultation process at branch level, seeking suggestions to make the sector future ready and be a catalyst in economic growth. The consultations were held on August 17-18, under the direction of Department of Financial Services,

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