Source: businesstoday.in 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
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
source: financialexpress.com Non-food credit grew at 11.58% year-on-year (y-o-y) during the fortnight ended August 16, a 17-month low, data from Reserve Bank of India (RBI) showed. The growth in loans to individuals, farmers and companies was was 12.09% y-o-y in the previous fortnight. However, deposits with the banking system grew by 10.15% y-o-y to Rs
Source: moneycontrol.com The government has decided to inject Rs 70,000 crore budgeted for the recapitalisation of public sector banks in the current financial year, on an immediate basis, Finance Minister Nirmala Sitharaman said. The move will release liquidity to the tune of Rs 5 lakh crore into the banking system for lending. This comes as
Source: newindianexpress.com In an unusual bottom-up consultation drive, Public Sector Banks (PSBs), last week sent their senior bank staff on the road to brainstorm and discover ideas to boost bank credit and also double India’s economy to $5 trillion in the next five years. According to officials, branch managers are the first point of contact
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
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,
Source: financialexpress.com In economics, it is extremely common to fall into the fallacy of attributing causality to correlation. Often events may occur seemingly in tandem, but in reality may be disparate processes just coming to a head at the same time. Such events have just occurred in the Indian market from late last week to
Source: zeebiz.com PNB Scam effect: Amid heavy sell0ff by the Foreign Institutional Investors (FIIs), especially in the banking and finance, Auto and IT stocks, the PNB scam of Rs 3,800 have done further damage to the PNB counter. On Monday, the counter had crashed around 11 per cent from its Friday closing. As per the
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
