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Punjab National Bank News
Punjab National Bank
IndiGo, Punjab National Bank among key stocks trending on Dalal Street today
Tue, Jul 24, 2018
Vodafone India and Idea Cellular and are likely to pay up the Rs 7,268 crore in dues towards spectrum charges demanded by the government to get final nod from the Department of Telecommunications (DoT) as any recourse to litigation would mean potential delay in the $23 bn merger.
Centre to infuse capital in these 5 public sector banks; stocks tank after soaring
Wed, Jul 18, 2018
Indian Overseas Bank shares surged as much as 13.8 per cent to their highest since June 26. PNB share price gained as much 4.1 per cent to Rs 81.95 its highest in over 3 weeks, while Corporation Bank shares hit 4-week high rising as much as 10.1 per cent to Rs 28.95.
PNB collects Rs 151.66cr as below min balance penalty in FY18
Tue, Jul 17, 2018
"During the FY 2017-18, a total penalty of Rs 151.66 crore has been recovered due to non-maintenance of minimum balance in 1,22,98,748 savings fund accounts," PNB replied in response of a query filed by RTI activist Chadra Shekhar Gaud.
PNB scam: Nirav Modi's fraud brings 50 wealthy Indians under radar of IT department
Sat, Jul 14, 2018
A official source told PTI, the Income Tax Department has decided to re-assess the tax returns of over 50 high net-worth individuals who purchased costly jewellery from firms owned by absconding diamantaire Nirav Modi.
PNB Housing Finance gains 7% after parent says to sell 51% stake; PNB shares slip by 3%
Wed, Jul 11, 2018
PNB has no option but to recover the nearly Rs 14,356.84 crore scam created by two jewelers Nirav Modi and Mehul Choksi. Hence, a stake sale in profit making PNB Housing is one way to stay afloat in banking system.
PNB's big wilful defaulters' dues fall to Rs 15,354 cr in June
Sun, Jul 08, 2018
The data on big wilful defaulters is pertaining to those borrowers who took loan of Rs 25 lakh and above from the public sector lender. Such borrowers had an outstanding of Rs 15,490 crore at the end of May 2018.
Nirav Modi impact: Punjab National Bank to close most operations in this Mumbai branch
Wed, Jul 04, 2018
The Punjab National Bank (PNB) is closing nearly all its operations in a Mumbai branch that was at the heart of a $2 billion fraud, according to four sources with knowledge of the decision.
Nirav Modi firms availed loans from PNB's Hong Kong, Dubai branches too: Report
Wed, Jun 27, 2018
As per the report, Nirav Modi group companies Firestar Diamond Ltd Hong Kong and Firestar Diamond FZE Dubai availed some credit facilities from the Hong Kong and Dubai branches of Punjab National Bank (PNB) as well.
PNB fraud: Bank's own research shows lapses at many levels
Wed, Jun 20, 2018
PNB, India's second-biggest state-controlled lender, has previously alleged that a handful of staff at a single Mumbai branch issued fake bank guarantees over several years to help two jewellery groups - controlled by Indian diamond magnate Nirav Modi and his uncle Mehul Choksi - raise billions of dollars in foreign credit and commit India`s biggest-ever bank fraud.
PNB seeks power from US court to summon Nirav Modi for oral examination
Tue, Jun 19, 2018
State-owned Punjab National Bank (PNB) has sought from a US court the power to issue subpoenas compelling the oral examination, under oath, of Mihir Bhansali, Rakhi Bhansali, Ajay Gandhi, Kunal Patel and Nirav Modi.
Dues of PNB's big wilful defaulters rise to Rs 15,490 cr
Sun, Jun 17, 2018
Wilful defaulters borrowing Rs 25 lakh and above owed more than Rs 15,490 crore to PNB as of May end, up 2 per cent from the preceding month. The data from the state-owned Punjab National Bank covers the big wilful defaulters who are not paying back their loans despite having the capacity to do so
Fraud hit PNB board to consider ESOP scheme of up to 10 cr shares
Wed, Jun 13, 2018
A note is being placed to board in its ensuing meeting dated June 15, 2018 regarding ESPS with a proposal for issuance of up to 10 crore equity shares to its employees, the bank said in a regulatory filing.
PNB, SBI, 13 others get Moody's counterparty risk ratings
Wed, Jun 13, 2018
PNB in a statement today said, "Following the bank's strong recovery and the Government of India's continued support, Punjab National Bank (PNB) has been assigned counterparty risk rating (CRR) from Moody's Investors Service."
Nifty PSU Bank top sectoral gainer; PNB, Syndicate Bank, Bank of Baroda rally up to 4%
Mon, Jun 11, 2018
Nifty PSU bank index gained as much as 1.9 per cent to its highest since April 10. Fraud-hit Punjab National Bank was the top gainer on the index, rising as much as 4.7 per cent to Rs 94.70 rupees, highest in over a month.
PNB fraud linked to Nirav Modi is a different matter: PNB MD Sunil Mehta to Parliamentary panel
Mon, Jun 04, 2018
The Parliamentary Standing Committee on Finance headed by Verappa Moily held a meeting with top officials of both public and private banks today
PNB fraud: Nirav Modi records are safe, says CBDT post fire at I-T department
Mon, Jun 04, 2018
The government on Sunday said the records related to the investigation into the Nirav Modi and Mehul Choksi case were safe as they were transferred out before a fire broke out in the Income Tax Office in Mumbai.
After Moody’s now ICRA downgrades PNB rating; may enter RBI’s PCA framework
Tue, May 22, 2018
Two jewellers, Nirav Modi and Mehul Choksi fraud of over Rs 14,356.84 crore has reflected in the earnings of Punjab National Bank in a very disappointing manner.
Moody's downgrades PNB on the impact of Nirav Modi fraud
Mon, May 21, 2018
International rating agency Moody's on Monday said it has downgraded state-run Punjab National Bank's (PNB) rating to Ba1/NP from Baa3/P-3, due to impact on the lender's profitability following Nirav Modi-fraud case.
Will PNB see any ray of hope; analysts trim down ratings
Sun, May 20, 2018
Two jewellers, Nirav Modi and Mehul Choksi linked fraud of over Rs 14,000 crore has reflected in the earnings of Punjab National Bank in a very disappointing manner.
PNB fraud case: Rs 85-cr worth jewellery of Mehul Choksi firm brought back from Dubai
Thu, May 17, 2018
PNB fraud case: The Enforcement Directorate today said it has seized over 34,000 pieces of jewellery worth Rs 85 crore from the Gitanjali Group, owned by diamantaire Mehul Choksi, in connection with the Rs 13,000-crore Punjab National Bank (PNB) fraud case.