Punjab National Bank posts Rs 940 crore loss for first-quarter on fraud-related provisions
6 years, 5 months ago

Punjab National Bank posts Rs 940 crore loss for first-quarter on fraud-related provisions

Firstpost  

PNB in February said it had been defrauded by two jewellery groups that raised more than $2 billion credit overseas using fake guarantees. Troubled Punjab National Bank reported its second consecutive quarter of loss, as the country’s second-biggest state-run lender set aside more funds for a massive fraud it disclosed earlier in the year. Mumbai-traded PNB, the fourth-biggest bank by assets among all of India’s lenders, in February said it had been defrauded by two jewellery groups that raised more than Rs 13,700 crore in credit overseas using fake guarantees provided by the bank’s staff at a Mumbai branch - the Brady House branch in south Mumbai. The statement to the exchanges said: “…During the quarter ended 31st March 2018, a fraud was detected at [the> Brady house Mumbai branch involving certain accounts under [the> gems & jewellery sector amounting to Rs 14,356.84 crore wherein [the> RBI vide their letter no. 8720/21.04.132/2017-18 dated 28.03.2018 had given dispensation to the Bank to make provisions against the fraud at 25 percent without debiting ‘other reserves’ in the quarter ended 31 March 2018 and to provide remaining amount during first three quarters of the ensuing financial year.

Mumbai 2018 Bank Crore Quarter Rbi Provision Pnb Reported  pnb  reported  assets  rs  2018  crore  fraudrelated  punjab  posts  national  quarter  jewellery  provision  bank  firstquarter  loss  provisions

History of this topic

Mobikwik Q2 results: Firm posts loss of ₹3.5 crore vs profit YoY, revenue at ₹291 crore
1 week, 2 days ago

Mobikwik Q2 results: Firm posts loss of ₹3.5 crore vs profit YoY, revenue at ₹291 crore

Live Mint  

MobiKwik, which recently went public, reported a net loss of ₹3.5 crore for the September 2024 quarter, a sharp contrast to the ₹5.2 crore profit recorded in the same period last year. Operational revenue for the second quarter surged by 43 per cent year-on-year, reaching ₹291 crore compared to ₹203 crore in the corresponding period of the previous financial year. …

Indian Bank Q3 update: Total business up 8.3% at ₹12.6 lakh crore, total deposit surges 7.3%
1 week, 4 days ago

Indian Bank Q3 update: Total business up 8.3% at ₹12.6 lakh crore, total deposit surges 7.3%

Live Mint  

Indian Bank, on January 5, reported 8.3 per cent year-on-year rise in its total business for the quarter ending on December 31, 2024. The Chennai-based public sector bank's total business stood at ₹12.61 lakh crore for the same quarter, as compared to ₹11.64 lakh crore same period a year ago, according to the exchange filing. Indian public sector bank's gross …

Indian banks’ profitability improves for six straight years, NPAs decline to 13-year low: RBI report
3 weeks ago

Indian banks’ profitability improves for six straight years, NPAs decline to 13-year low: RBI report

Live Mint  

The profitability of banks improved for the sixth consecutive year in 2023-24 and their gross bad debts or non-performing assets declined to a 13-year low of 2.7 per cent. "Banks’ profitability rose for the sixth consecutive year in 2023-24 and continued to rise in H1:2024-25 with the return on assets at 1.4 per cent and return on equity at 14.6 …

India: Gross NPAs of PSBs at ₹3.16L Cr, Govt Reports
1 month ago

India: Gross NPAs of PSBs at ₹3.16L Cr, Govt Reports

Deccan Chronicle  

New Delhi: The gross non-performing assets of public sector banks stood at Rs 3.16 lakh crore as of September 30, which is 3.09 per cent of the outstanding loans, while gross NPAs as percentage of outstanding loan is 1.86 per cent in private sector banks, the government said on Tuesday. Informing to the Parliament, minister of state for finance Pankaj …

PSB’s Record 26% Profit Growth in First Half FY25
2 months ago

PSB’s Record 26% Profit Growth in First Half FY25

Deccan Chronicle  

New Delhi: The finance ministry on Tuesday said that public sector banks have shown robust performance in the first half of the current fiscal year with a 26 per cent growth in net profit, increase in business and decline in non-performing assets. During the first six months of FY25, the finance ministry also said that the credit and deposit portfolio …

Q2FY25 results review: PNB, BoB to Canara Bank — Profit of PSBs jumps 35.4% to ₹45,550 crore
2 months ago

Q2FY25 results review: PNB, BoB to Canara Bank — Profit of PSBs jumps 35.4% to ₹45,550 crore

Live Mint  

Indian public sector banks delivered a robust performance in the September quarter, surpassing their private-sector peers. UCO Bank reported a 50 per cent YoY jump in net profit to ₹603 crore, alongside reductions in gross NPAs to 3.18 per cent and net NPAs to 0.73 per cent. Additionally, Union Bank of India reported a 34 per cent rise in net …

PNB share price rises 6% post Q1 results: Is there more upside likely?
5 months, 2 weeks ago

PNB share price rises 6% post Q1 results: Is there more upside likely?

Hindustan Times  

Punjab National Bank share price rose over 6% today post Q1 results in which the lender reported highest-ever quarterly standalone profit of ₹3,252 crore. PNB share price: The bank's share price continued to gain to intraday highs of ₹ 128.10. PNB share price opened at ₹124.86 today almost 4% higher than previous close of ₹119.95. Motilal Oswal Financial Services put …

Banks should improve corporate loans, keep deposit base healthy
7 months, 3 weeks ago

Banks should improve corporate loans, keep deposit base healthy

New Indian Express  

For the first time ever, the cumulative net profits of Indian banks surpassed Rs 3 lakh crore in 2023-24, up from Rs 2.3 lakh crore in 2022-23. While the 26 private lenders’ net profits shot up 42 percent to Rs 1.78 lakh crore, the 12 public sector banks reported net profits of Rs 1.41 lakh crore in 2023-24, a 34 …

IndusInd Bank reports ₹2,298 crore Q3 net profit, a 17.3% surge from last year
11 months, 4 weeks ago

IndusInd Bank reports ₹2,298 crore Q3 net profit, a 17.3% surge from last year

Hindustan Times  

IndusInd Bank on Thursday reported a net profit of ₹2,298 crore for the third quarter ending December 31, a surge by 17.3 per cent from the previous year. IndusInd Bank on Thursday reported a net profit of ₹ 2,298 crore for the third quarter ending December 31 The lender beat the Q3 profit expectations, helped by strong loan growth, Reuters …

PNB market cap surpasses ₹1 lakh crore; third PSU bank to achieve feat
1 year, 1 month ago

PNB market cap surpasses ₹1 lakh crore; third PSU bank to achieve feat

Live Mint  

Within the universe of PSU banking stocks, Punjab National Bank has emerged as a standout performer, showcasing remarkable resilience and performance throughout the current year. This outstanding performance catapulted the bank's market capitalisation beyond the ₹one lakh crore milestone in today's trade, making it the third public sector bank to achieve this significant feat. The bank's pre-provision operating profit came …

PNB Q2 net profit jumps 327% to ₹1,756 crore; NII rises 20% YoY
1 year, 2 months ago

PNB Q2 net profit jumps 327% to ₹1,756 crore; NII rises 20% YoY

Live Mint  

PNB Q2 Results: Punjab National Bank, the state-run lender, reported a sharp jump of 327% in its net profit for the second quarter of FY24 led by lower provisions. PNB’s net profit in Q2FY24 surged to ₹1,756 crore from ₹411.3 crore in the same quarter last year. PNB’s net interest income during the July-September 2023 quarter rose 20% to ₹9,923 …

PNB Housing Finance Q2 Results: Net profit rises 45% to ₹383 cr, revenue up 5%
1 year, 2 months ago

PNB Housing Finance Q2 Results: Net profit rises 45% to ₹383 cr, revenue up 5%

Live Mint  

PNB Housing Finance Q2 Results: Punjab National Bank Housing Finance announced its July-September quarter results for fiscal 2023-24 on Monday, October 24, reporting a rise of 45.9 per cent in net profit at ₹383 crore, compared to ₹262.6 crore in the corresponding period last year. The revenue from operations in the second quarter of current fiscal stood at ₹1,777.8 crore, …

IndusInd Bank Q2 profit up 22% to ₹2,202 cr
1 year, 2 months ago

IndusInd Bank Q2 profit up 22% to ₹2,202 cr

Hindustan Times  

IndusInd Bank on Wednesday posted 22 per cent rise in consolidated net profit at ₹2,202 crore for September quarter 2023-24, aided by decline in bad loans and a rise in interest income. Total income increased to ₹13,530 crore during the quarter under review, as against ₹10,719 crore in the same period last year, IndusInd Bank said in a regulatory filing. …

PNB share price hits 52-week high, rises 80% in six months. Do you own?
1 year, 3 months ago

PNB share price hits 52-week high, rises 80% in six months. Do you own?

Live Mint  

Punjab National Bank share price has been in uptrend since June 2023. PNB share price today opened upside and went on to hit new 52-week high of ₹81.35 apiece on NSE, logging around 40 per cent rise in YTD. PNB share price history In last one month, PNB share price has ascended from ₹62.50 to ₹81.35 apiece levels, delivering near …

PB Fintech Q1 Results: Net loss narrows 94% YoY to ₹11.9 crore, revenue up 39%
1 year, 5 months ago

PB Fintech Q1 Results: Net loss narrows 94% YoY to ₹11.9 crore, revenue up 39%

Live Mint  

PB Fintech released their April to June quarter results on Monday and posted a net consolidated loss of ₹11.9 crore which was 94% lower year-on-year from net loss of ₹204 crore reported during the corresponding quarter previous fiscal. The total revenue of the company jumped 39% YoY, while the operating revenue jumped 32% to ₹666 crore during the Q1FY24 from …

Profit of PSU banks more than doubles to Rs 34,774 cr in Q1
1 year, 5 months ago

Profit of PSU banks more than doubles to Rs 34,774 cr in Q1

India TV News  

Public sector banks have once again posted stellar performance by registering more than double profit of Rs 34,774 crore for the first quarter ended June 2023. SBI's highest-ever quarterly profit of Rs 16,884 crore is about 50 per cent of the total profit earned by PSBs. During FY23 too, SBI's contribution was about 50 per cent, when the cumulative profit …

Net profit of PSBs almost tripled to ₹1.04 lakh in FY2022-23: FM Sitharaman
1 year, 6 months ago

Net profit of PSBs almost tripled to ₹1.04 lakh in FY2022-23: FM Sitharaman

Live Mint  

Finance Minister Nirmala Sitharaman on Saturday appreciates the state-run banks for becoming profiteering. According to the union Finance Minister, the net profit of public sector banks has almost tripled to ₹1.04 lakh crore in fiscal 2022-23. "The Non-Performing Assets of the Indian banks is estimated to reduce further to a decadal low of 3.8% by end of FY 2023-24," Sitharaman …

Bandhan Bank Q4 result: Net profit decline 57% to ₹808 cr, dividend declared
1 year, 7 months ago

Bandhan Bank Q4 result: Net profit decline 57% to ₹808 cr, dividend declared

Live Mint  

Private lender Bandhan Bank on Friday reported 57.5 per cent decline in net profit to ₹808.3 crore for the quarter ended March 2023. Meanwhile, its net interest income, which is the difference between interest earned and expended, down 2.7 per cent to Rs2,471.8 crore from ₹2,540.2 crore year-on-year. The total advances rose 10 per cent as of March end to …

Jammu and Kashmir Bank records highest-ever net annual profit of ₹1,197 crore
1 year, 8 months ago

Jammu and Kashmir Bank records highest-ever net annual profit of ₹1,197 crore

The Hindu  

Jammu and Kashmir Bank has announced its highest-ever net annual profit of ₹1,197 crore in the results for the financial year 2022-23. With a decade-high capital adequacy ratio of 15.39% and non-performing assets at an eight-year low of 6.04%, the bank also recorded its highest-ever quarterly profit of ₹476 crore in the last quarter. "Jammu and Kashmir Bank has recorded …

Kerala-based CSB Bank posts 20% rise in Q4 net profit to Rs 156 crore
1 year, 8 months ago

Kerala-based CSB Bank posts 20% rise in Q4 net profit to Rs 156 crore

Business Standard  

Kerala-based private sector lender CSB Bank has posted a 20 per cent rise in net profit during the fourth quarter of 2022-23 to Rs 156 crore, as compared to Rs 131 crore during the same period the previous financial year, owing to rise in income and dip in bad loans. Its net interest income also increased by 15 per cent …

CSB Bank net profit rises 19% to Rs 156 crore as bad loans decline
1 year, 8 months ago

CSB Bank net profit rises 19% to Rs 156 crore as bad loans decline

Business Standard  

Private sector lender CSB Bank on Friday reported 19 per cent rise in net profit at Rs 156 crore for March quarter 2022-23 as bad loans declined. During the quarter, the bank's total income increased to Rs 762.81 crore from Rs 583.17 crore a year ago, CSB Bank said in a regulatory filing. The Kerala-based bank recorded a net profit …

IndusInd Bank Q4 net profit surges nearly 50% YoY to ₹2,040.51 crore
1 year, 8 months ago

IndusInd Bank Q4 net profit surges nearly 50% YoY to ₹2,040.51 crore

Live Mint  

IndusInd Bank exceeded the Street's expectations with a standalone net profit of ₹2,040.51 crore for the quarter ended March, an increase of nearly 50% over the number of ₹1,361.37 crore from the previous year. The lender's net interest income totaled ₹4,669.46 crore, up 17% over the previous year. In Q4FY23, the bank's total income increased 16% year-on-year to ₹6,823 crore, …

Got message about Punjab Bank financial scheme? It is fake
1 year, 8 months ago

Got message about Punjab Bank financial scheme? It is fake

India Today  

Some Punjab National Bank customers are receiving a message related to a financial scheme, but the government has clearly deemed it fake. In a tweet by PIB, customers are receiving a fraudulent message claiming there's a reward worth Rs 6,000 under PNB 130th government financial scheme. The tweet states, "chance to win a Financial Subsidy worth Rs 6,000 from Punjab …

State-Owned Banks Write Off Rs 29,000-Crore Bad Loans In December 2022 Quarter: Report
1 year, 11 months ago

State-Owned Banks Write Off Rs 29,000-Crore Bad Loans In December 2022 Quarter: Report

News 18  

State-owned banks wrote off bad loans worth Rs 29,000 crore in the December 2022 quarter, higher as compared with Rs 23,000 crore in the corresponding quarter last year, as part of a clean-up exercise, according to a CARE Ratings report. The write-offs by public sector banks in April-December 2022 were Rs 81,000 crore, which were lower than the Rs 90,000 …

Banks write off loans worth Rs 11.17 lakh crore in last 6 years
2 years ago

Banks write off loans worth Rs 11.17 lakh crore in last 6 years

Deccan Chronicle  

NEW DELHI: Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday. "As per RBI data, public sector banks and scheduled commercial banks wrote off an aggregate amount of Rs 8,16,421 crore and Rs 11,17,883 crore respectively during the last six financial years," …

Punjab National Bank gets govt approval to dilute stake in UTI Mutual Fund
2 years, 1 month ago

Punjab National Bank gets govt approval to dilute stake in UTI Mutual Fund

Live Mint  

State-owned Punjab National Bank on Thursday said it has received the government approval to divestment its entire stake in UTI Asset Management Company Limited as part of its non-core asset sale plan to shore up its capital base. The bank, which holds 15.22% stake in UTI AMC, will divestment its entire stake in the mutual fund company in single or …

Kotak Bank’s profit up 26% YoY, see treasury loss of ₹857 crore
2 years, 5 months ago

Kotak Bank’s profit up 26% YoY, see treasury loss of ₹857 crore

Live Mint  

Kotak Mahindra Bank reported a 26% year-on-year jump in net profit, aided by higher credit and lower provisions. The private lender reported a net profit of ₹ ₹2,071.10 crore in the first quarter as against a net profit of ₹1,641.90 crore during the corresponding period last year. However, the bank’s net profit fell 25% on a sequential basis owing to …

SBI Q4 results: Profit jumps 41%, bad loans decline
2 years, 8 months ago

SBI Q4 results: Profit jumps 41%, bad loans decline

India Today  

State Bank of India on Friday reported a 41 per cent surge in standalone net profit at Rs 9,114 crore for the fourth quarter ended March 2022, helped by decline in bad loans. On a consolidated basis, the bank reported a 56 per cent increase in net profit at Rs 9,549 crore, compared to Rs 6,126 crore in the fourth …

Punjab govt recovers Rs 28.97 crore from bank accounts of dead pensioners
2 years, 9 months ago

Punjab govt recovers Rs 28.97 crore from bank accounts of dead pensioners

India Today  

The Punjab Government has recovered Rs.28.97 crore from bank accounts of deceased beneficiaries of various social security schemes. While disclosing this here, Punjab Social Security, Women and Child Development Minister Baljit Kaur said, "After assuming the charge of office, the officials of Social Security, Women and Child Development Department were directed to thoroughly review all the schemes to ensure judicious …

PNB Interest Rates: Punjab National Bank Cuts Interest Rate on Savings Accounts; Details
2 years, 9 months ago

PNB Interest Rates: Punjab National Bank Cuts Interest Rate on Savings Accounts; Details

News 18  

The Punjab National Bank, or PNB, has cut down the interest rates on its savings accounts, in a disappointing news to the lender’s customers. The public sector bank has said for those bank accounts with less than Rs 10 lakh balance, the interest rates have been lowered to 2.70 per cent per annum. In February, the public sector lender had …

Punjab National Bank hit by scam again, classifies Rs 2,060 cr loan as fraud by Tamil Nadu company
2 years, 10 months ago

Punjab National Bank hit by scam again, classifies Rs 2,060 cr loan as fraud by Tamil Nadu company

Firstpost  

A fraud of Rs. 2060.14 crore is being reported by the bank to RBI in the accounts of IL&FS Tamil Nadu Power State-owned lender Punjab National Bank has reported a fraud in borrowing worth over Rs 2,000 crore in the NPA account of IL&FS Tamil Nadu Power. Earlier, the Punjab & Sind Bank had said on February 15 that it …

From Punjab National Bank to Adani Enterprise, Here are the Stocks to Watch Today
3 years, 5 months ago

From Punjab National Bank to Adani Enterprise, Here are the Stocks to Watch Today

News 18  

The Indian market is likely to open flat on Tuesday, August 03, amid mixed global cues. Punjab National Bank: The government-owned bank’s Q1FY22 net profit jumped to Rs 1,023.5 crore from Rs 308.5 crore. CG Power and Industrial Solutions: The multinational company reported a consolidated net profit of Rs 48 crore in Q1FY22. Balaji Amines: The company’s standalone net profit …

PSU banks mobilise record fund of ₹58,700 crore from markets in FY21
3 years, 5 months ago

PSU banks mobilise record fund of ₹58,700 crore from markets in FY21

Live Mint  

Notwithstanding economic disruptions caused by the pandemic, public sector banks have managed to raise a record ₹58,700 crore from markets in FY2020-21 through a mix of debt and equity to enhance capital base. Punjab National Bank mobilised ₹3,788 crore through share sale on private placement basis during the financial year ended March 31, 2021. In addition, 12 PSBs raised funds …

Banks NPAs decline to Rs 8.34 lakh cr at March-end 2021, junior finance minister informs Lok Sabha
3 years, 5 months ago

Banks NPAs decline to Rs 8.34 lakh cr at March-end 2021, junior finance minister informs Lok Sabha

Firstpost  

Scheduled commercial banks were carrying NPAs worth Rs 8.96 lakh crore on their balance sheet at the end of March 2020 New Delhi: Non-performing assets or bad loans of banks have declined by Rs 61,180 crore to Rs 8.34 lakh crore at the end of March 31, 2021, as a result of various steps taken by the government, Minister of …

Kotak Mahindra Bank Q1 Results: Net Profit Rises 32% to Rs 1,641 Crore
3 years, 5 months ago

Kotak Mahindra Bank Q1 Results: Net Profit Rises 32% to Rs 1,641 Crore

News 18  

New Delhi: Private lender Kotak Mahindra Bank on Monday reported a nearly 32 per cent jump in its net profit to Rs 1,641.92 crore in the first quarter of 2021-22. The bank had posted a net profit of Rs 1,244.45 crore in the same quarter of the previous fiscal year. Total income during April-June 2021-22 rose to Rs 8,062.81 crore, …

Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered
3 years, 6 months ago

Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered

India TV News  

About 40 per cent of the money lost by banks in alleged frauds perpetrated by fugitive businessmen Nirav Modi, Mehul Choksi and Vijay Mallya has been recovered so far, the Enforcement Directorate said after the sale of attached shares worth over Rs 5,800 crore on Wednesday. "The quantum of the attached and seized assets represent 80.45 per cent of the …

Indian Overseas Bank Reports Net Profit of Rs 148 Crore in Q2 as Bad Assets Decline
4 years, 2 months ago

Indian Overseas Bank Reports Net Profit of Rs 148 Crore in Q2 as Bad Assets Decline

News 18  

State-owned Indian Overseas Bank on Friday reported a net profit of Rs 148 crore for the second quarter of current fiscal as bad loans and provisions declined. Sequentially, net profit grew 22.3 per cent from Rs 121 crore in June quarter of this fiscal. Total income rose 8.1 per cent to Rs 5,431 crore during the quarter under review as …

Bandhan Bank Q2 Net Profit Falls By 5.3% To Rs 920 Crore
4 years, 2 months ago

Bandhan Bank Q2 Net Profit Falls By 5.3% To Rs 920 Crore

ABP News  

Private lender, Bandhan Bank on Monday, reported a 5.3% fall in its second-quarter net profit to Rs 920 crore compared to a net profit of Rs 971.8 crore in the year-ago period as the lender has taken accelerated additional provision on standard assets amounting to Rs 300.0 crore for COVID-19. On a sequential basis, net profit for the quarter increased …

State-owned Indian Bank Q2 Net Profit Rises 15% to Rs 412 Crore
4 years, 2 months ago

State-owned Indian Bank Q2 Net Profit Rises 15% to Rs 412 Crore

News 18  

State-owned Indian Bank on Thursday reported a 15 per cent rise in net profit at Rs 412.28 crore for the second quarter ended September, despite increase in provisions for bad loans. Indian Bank’s total income rose to Rs 11,669.11 crore during September quarter this year from Rs 6,045.32 crore in the same period of the previous fiscal, it said in …

Finance Ministry May Provide Capital Support Worth Rs 20,000 crore to Public Sector Banks in 3rd Quarter
4 years, 3 months ago

Finance Ministry May Provide Capital Support Worth Rs 20,000 crore to Public Sector Banks in 3rd Quarter

News 18  

The Finance Ministry is likely to provide capital support from the Rs 20,000 crore fund approved by Parliament in recently concluded session to some Public Sector Banks in the third quarter itself. In the last financial year, Punjab National Bank got Rs 16,091 crore, Union Bank of India received Rs 11,768 crore while Canara Bank and Indian Bank got Rs …

The battle to save banks
4 years, 3 months ago

The battle to save banks

India Today  

The battle for saving banks has been a long drawn one. Speaking at the seventh SBI Banking and Economics Conclave in July, RBI governor Shaktikanta Das said: “The economic impact of the pandemic due to the lockdown and the anticipated post-lockdown compression in economic growth may result in higher NPAs and capital erosion of banks. A recapitalisation plan for PSBs …

PNB Receives Rs 24 Crore from US Bankruptcy Proceedings of 3 Nirav Modi-promoted Firms: Govt
4 years, 4 months ago

PNB Receives Rs 24 Crore from US Bankruptcy Proceedings of 3 Nirav Modi-promoted Firms: Govt

News 18  

The Ministry of Corporate Affairs on Tuesday said Punjab National Bank has received over Rs 24 crore as the first tranche of recoveries from bankruptcy proceedings of three Nirav Modi-promoted companies in the US. In 2018, the lender had informed the ministry that three companies promoted by Nirav Modi — Firestar Diamond, Inc, A Jaffee, Inc and Fantasy, Inc had …

Punjab & Sind Bank reports fraud of Rs 112 crore in 2 accounts
4 years, 6 months ago

Punjab & Sind Bank reports fraud of Rs 112 crore in 2 accounts

India TV News  

Punjab & Sind Bank on Friday reported fraud of Rs 112.42 crore in two NPA accounts of Maha Associated Hotels and Edyar Zinc. The Delhi-headquartered lender in a filing said that "an NPA account Maha Associated Hotels Pvt Ltd with outstanding dues of Rs 71.18 crore having provisioning of Rs 44.40 crore has been declared as fraud and reported to …

PNB plans to hit capital market in Q4
4 years, 6 months ago

PNB plans to hit capital market in Q4

India TV News  

The country’s second largest lender Punjab National Bank is planning to hit capital markets in the fourth quarter this fiscal to raise funds to help meet growth needs and regulatory requirements. At the moment, the bank is sufficiently capitalised with the capital adequacy ratio of 14.14 per cent at the end of March 2020, PNB Managing Director S S Mallikarjuna …

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore
4 years, 6 months ago

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore

India Today  

The Central Bureau of Investigation has conducted searches in the national capital in connection with a bank fraud case of Rs 398 core. The two biggest lenders of country, State Bank of India and Punjab National Bank, have been defrauded to the tune of Rs 398 crore, said the agency. On the complaint of SBI, the federal probe agency booked …

PNB collected Rs 268 crore as ATM transaction charges, annual maintenance fee in FY20
4 years, 7 months ago

PNB collected Rs 268 crore as ATM transaction charges, annual maintenance fee in FY20

India TV News  

Punjab National Bank collected around Rs 268 crore as ATM transaction charges and annual maintenance fee on debit cards during 2019-20 fiscal, according to an RTI reply. The public sector lender collected Rs 152.88 crore from customers by levying annual maintenance charges on debit cards. While Rs 115.21 crore was garnered by way of levying a fee on ATM transactions, …

Punjab revenues fall to ₹396 crore against an estimated ₹3,360 crore
4 years, 8 months ago

Punjab revenues fall to ₹396 crore against an estimated ₹3,360 crore

The Hindu  

Punjab Chief Minister Amarinder Singh on Wednesday said with all tax revenues dried up and only 1.5% of the industry currently operational, the State during the month of April has received only ₹396 crore as against the estimated revenue of ₹3,360 crore. Pegging the April revenue shortfall for the State at 88%, the Chief Minister said that Punjab was facing …

Sharp decline in PSB fraud amount, Centre tells Lok Sabha
4 years, 10 months ago

Sharp decline in PSB fraud amount, Centre tells Lok Sabha

The Hindu  

Comprehensive steps taken to curb fraud in public sector banks have resulted in a sharp decline in the amount involved, from ₹50,329 crore in 2013-14 to just ₹3,781 crore in the first three quarters of 2019-20, according to the Finance Ministry. An online searchable database of frauds reported by banks, in the form of Central Fraud Registry, has been set …

Bad loans of PSBs fall to ₹7.27 lakh crore at end of Sept 2019: Sitharaman
4 years, 11 months ago

Bad loans of PSBs fall to ₹7.27 lakh crore at end of Sept 2019: Sitharaman

Live Mint  

New Delhi: Finance Minister Nirmala Sitharaman on Monday said public sector banks' bad loans came down to ₹7.27 lakh crore at the end of September 2019, on host of measures taken by the government to improve financial health of the banks in the country. "The government has instituted comprehensive reforms in PSBs to improve, governance, underwriting, monitoring and recovery, and …

NPAs of public sector banks stand at ₹7.27 lakh crore as on H1FY20: Govt
4 years, 11 months ago

NPAs of public sector banks stand at ₹7.27 lakh crore as on H1FY20: Govt

Live Mint  

New Delhi: The government on Monday said the Non Performing Assets of Public Sector Banks stood at ₹7.27 lakh crore as on September 30, 2019. Union Minister of State for Finance Anurag Thakur also said in Lok Sabha that scheduled commercial banks and select financial institutions have reported frauds to the tune of ₹1,13,374 crore in the first half of …

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