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PNB to focus on Retail, Agriculture, MSME advances, CASA deposits to boost profitability: MD Ashok Chandra
Punjab National Bank is set to prioritize retail, agriculture, and MSME lending, alongside boosting low-cost deposits to fuel growth. MD and CEO Ashok Chandra highlighted the bank's strong financial position and commitment to digital expansion and customer service. PNB aims to contribute to India's 'Viksit Bharat' vision by 2047, integrating ESG principles for responsible and sustainable development.
Fintech Stock Backed by Ashish Kacholia Jumps After Signing Deal with Punjab National Bank By Trade Brains - Investing.com India
Fintech Stock Backed by Ashish Kacholia Jumps After Signing Deal with Punjab National Bank By Trade BrainsInvesting.com India
Zaggle Prepaid rises after signing 5-year agreement with PNB
Zaggle Prepaid Ocean Services (Zaggle) gained 2.73% to Rs 218.35 after the company announced that it has entered into a five-year agreement with Punjab National Bank (PNB) to launch a co-branded retail credit card.
Zaggle Prepaid inks 5-year agreement with PNB
Zaggle Prepaid Ocean Services (Zaggle) announced that it has entered into an agreement with Punjab National Bank (PNB) to act as a co-branding partner for a retail credit card product.
Punjab National Bank spurts 0.99%, up for five straight sessions
Punjab National Bank is quoting at Rs 109.95, up 0.99% on the day as on 12:44 IST on the NSE. The stock is up 6.77% in last one year as compared to a 2.73% fall in NIFTY and a 4.19% fall in the Nifty Bank.
Prudent ARC top bidder for Aban Offshore debt
Prudent ARC has become the highest bidder for Aban Offshore's ₹1,080 crore debt from Punjab National Bank, offering ₹193 crore. This marks the first time a bank has sold Aban Offshore's debt, resulting in an excess recovery for PNB compared to the promoters' settlement offer. The move allows PNB to avoid lengthy legal recovery processes.
Govt needs to revive NITI Aayog's PSU, PSB privatisation program: Arvind Panagariya
Former NITI Aayog vice chairman Arvind Panagariya urges the government to revive privatization of public sector undertakings and banks. He believes this is crucial for India's economic reforms. Panagariya also suggests establishing a dedicated privatization ministry to speed up disinvestment. He notes that foreign investors remain positive about India's long-term growth prospects despite recent capital outflows.
PNB, Ujjivan raise FCNR deposit rates
Punjab National Bank and Ujjivan Small Finance Bank have raised interest rates on FCNR(B) USD deposits for Non-Resident Indians. This move follows the RBI's announcement of a foreign currency swap window. Bank of Baroda has also introduced a new retail term deposit scheme for resident Indians. These initiatives aim to attract foreign capital and offer attractive returns to depositors.
Pvt sector reposing faith in economy, capex cycle showing signs of revival: Punjab National Bank CMD Ashok Chandra
Private sector investment is reviving. Companies are borrowing more for expansion and infrastructure. Punjab National Bank (PNB) sanctioned nearly Rs 4 lakh crore in corporate loans last fiscal year. This trend continues, with sanctions expected to exceed Rs 4 lakh crore this year. This indicates growing confidence in the Indian economy and increased business activity across various sectors.
Explained - The key factors behind the rally in banking stocks on Tuesday
Shares of Punjab & Sind Bank and Bank of Baroda are the top gainers on the PSU Bank index, trading with gains of around 1.5%, while IDFC First Bank is among the top gainer on the Nifty Bank index, trading 4% higher after brokerage firm HSBC initiated coverage of the stock.
India banks could raise $35-$40 billion via RBI's foreign currency deposit scheme, PNB CEO Ashok Chandra says
Indian banks anticipate raising up to $40 billion through foreign currency deposits. The Reserve Bank of India is backing a new scheme to attract dollar inflows. This initiative aims to strengthen the rupee. Banks will offer attractive interest rates to overseas customers. Punjab National Bank plans to raise $3 billion itself.
PNB eyes upto $3 billion FCNR inflows after RBI measures; sees boost to NIMs
Punjab National Bank expects to raise $2.5-3 billion via FCNRB deposits after RBI measures, sees lower deposit costs, better NII and NIMs, and MSME advances growing over 20%