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Punjab National Bank

Punjab National Bank Fundraise News Boosts Stock; Hits 52-Week High | Stock Market News

Punjab National Bank Fundraise News Boosts Stock; Hits 52-Week High | Stock Market News

Fri, Dec 29, 2023

Punjab National Bank (PNB) shares surged in morning trade after announcing a Rs 7,500 crore capital raise plan. The stock jumped to a new 52-week high of Rs 96.55 but later retreated amidst profit booking. Analysts foresee potential further gains, with targets of Rs 110 if the stock surpasses Rs 100 on closing basis.

Exclusive: In conversation with SS Mallikarjuna Rao, MD and CEO, PNB

Exclusive: In conversation with SS Mallikarjuna Rao, MD and CEO, PNB

Fri, Dec 06, 2019

In conversation with SS Mallikarjuna Rao, MD and CEO of Punjab National Bank. To know more watch the video

PNB's NPA slippages will be restricted within Rs19,000 crore levels by end of this fiscal year: SS Mallikarjuna Rao, MD & CEO

PNB's NPA slippages will be restricted within Rs19,000 crore levels by end of this fiscal year: SS Mallikarjuna Rao, MD & CEO

Fri, Nov 08, 2019

The accounts that turned up to be an NPA account and added to the slippage in this quarter include Jet Airways. Besides, the retail, agriculture and MSME (RAM) has a contribution of around Rs3,000 crore to the slippage of the quarter. Thus, total slippage stands around Rs11,000-12,000 crore in the first half of the year.

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PNB fraud: SBI chief Rajnish Kumar says PSBs must improve risk infrastructure

PNB fraud: SBI chief Rajnish Kumar says PSBs must improve risk infrastructure

Thu, Mar 01, 2018

PNB fraud: SBI Chairman Rajnish Kumar today said public sectors banks needs to improve their corporate and risk governance infrastructure to mitigate the challenges related to operational risk. "Public Sector Banks (PSBs) need to improve their governance infrastructure. "If there are any deficien

After PNB fraud sparks outrage, ICAI sends this tough message to CAs

After PNB fraud sparks outrage, ICAI sends this tough message to CAs

Thu, Mar 01, 2018

Amid auditors' role coming under the lens in the Rs 12,700 crore fraud at Punjab National Bank, ICAI President Naveen N D Gupta has flagged concerns about perception gap for chartered accountants even as he emphasised the need to "rekindle the credibility as core to our existence and growth". Gup

PNB fraud: RBI conducts risk-based supervision on annual basis, says bank; other details

PNB fraud: RBI conducts risk-based supervision on annual basis, says bank; other details

Thu, Mar 01, 2018

PNB fraud: The Enforcement Directorate (ED) said that it has attached 41 properties, valued at over Rs 1,200 crore, in connection with its money laundering probe in the PNB scam against Gitanjali Gems and its promoter Mehul Choksi.

PNB fraud: CBI arrests auditor at bank as fraud investigation widens

PNB fraud: CBI arrests auditor at bank as fraud investigation widens

Thu, Mar 01, 2018

PNB fraud: The Central Bureau of Investigation (CBI) on Wednesday arrested an auditor of a Punjab National Bank branch at the centre of an alleged $2 billion fraud, a police spokesman said, bringing the number of bank employees held to seven as the investigation widens.

PNB fraud: Nirav Modi, Mehul Choksi put jewellery sector's growth at stake

PNB fraud: Nirav Modi, Mehul Choksi put jewellery sector's growth at stake

Wed, Feb 28, 2018

The developments related to the ONB fraud case has hit the jewellery sector in India, where Gems and Jewellery retail market is estimated to be at Rs 3,90,000 crore, out of which 30% are formal retailers.

PNB shares dip below Rs 100; trade with Rs 90 stoploss, says expert

PNB shares dip below Rs 100; trade with Rs 90 stoploss, says expert

Wed, Feb 28, 2018

Shares of Punjab National Bank (PNB) dipped further below its key psychological level of Rs 100 as selling pressure on the stock strengthened. The stock dipped as much as 6.45 per cent to Rs 92, its fresh 52-week low, in intraday trade today.

PNB scam: PSBs asked to check all NPAs above Rs 50 crore for possible fraud

PNB scam: PSBs asked to check all NPAs above Rs 50 crore for possible fraud

Tue, Feb 27, 2018

Late on Monday night, PNB informed stock exchanges that the amount of fraudulent transactions involving the Nirav Modi scam could go up by over Rs 1,300 crore. "In continuation to our filing with stock exchanges on February 14, 2018, we have to inform that quantum of reported unauthorised transactions can increase by $204.25 million," PNB said in a Bombay Stock Exchange (BSE) filing.

PNB fraud: 15 days deadline to fix operational gaps, says finmin to senior bank officials

PNB fraud: 15 days deadline to fix operational gaps, says finmin to senior bank officials

Tue, Feb 27, 2018

The scam-hit Punjab National Bank (PNB) informed bourses that the amount of fraudulent transactions involving the bank could go up by over Rs 1,300 crore.

PNB stock hits fresh 52-week low, tanks 9%; bank makes a key disclosure late at night

PNB stock hits fresh 52-week low, tanks 9%; bank makes a key disclosure late at night

Tue, Feb 27, 2018

The shares of Punjab National Bank (PNB) tanked nearly 9 per cent on Tuesday after the public lender informed bourses that the amount of fraudulent transactions could be Rs 1,300 crore more than the current estimate of about Rs 11,400 crore.

PNB fraud: ED seeks LRs to probe Nirav Modi's overseas biz, assets

PNB fraud: ED seeks LRs to probe Nirav Modi's overseas biz, assets

Mon, Feb 26, 2018

The Enforcement Directorate investigating the over Rs 11,000-crore PNB fraud case today approached a Mumbai court seeking issuance of Letters Rogatory (LRs) for obtaining information about the overseas businesses and assets of diamantaire Nirav Modi. "It is an application for issuance of LR under

What is PNB fraud? How Punjab National Bank scam happened; blow by blow account

What is PNB fraud? How Punjab National Bank scam happened; blow by blow account

Mon, Feb 26, 2018

PNB fraud: Punjab National Bank, India`s second-biggest state-run lender, stunned the country`s financial sector this month when it announced it had discovered an alleged fraud worth Rs 11, 400 crore ($1.8 billion) at a single branch in Mumbai. The fraud, by far the biggest ever detected by an In

CBI questions MD, ED of PNB

CBI questions MD, ED of PNB

Sat, Feb 24, 2018

The officials examination is focussed on understanding how the crime was detected by the bank and other procedural issues and their violations

Arun Jaitley rules out privatisation of public sector banks

Arun Jaitley rules out privatisation of public sector banks

Sat, Feb 24, 2018

The call for privatisation gathered currency after diamond jeweller Nirav Modi allegedly colluded with some officials of PNB to fraudulently obtain guarantees so as to avail of loans from Indian banks overseas

PNB fraud case: Assets worth Rs 43 crore of Nirav Modi seized

PNB fraud case: Assets worth Rs 43 crore of Nirav Modi seized

Fri, Feb 23, 2018

PNB fraud: A senior Income Tax Department official said on Friday that as of date, 144 bank accounts and fixed deposits of Gitanjali Group owned by Mehul Choksi -- with a total credit balance of Rs 20.26 crore -- have been attached.

‘Data breach’ at PNB! 10,000 credit and debit cards details affected: Report

‘Data breach’ at PNB! 10,000 credit and debit cards details affected: Report

Fri, Feb 23, 2018

PNB fraud: The discovery of fraudulent transactions and data breach highlight the weak operational controls and corporate governance at the Punjab National Bank.

Nirav Modi fraud case may trigger corrective action on PNB: report

Nirav Modi fraud case may trigger corrective action on PNB: report

Thu, Feb 22, 2018

The state-run lender had detected fraudulent transactions worth Rs 11,400 crore at one of its branches in Mumbai

RBI's new NPA norms may undermine bank earnings: Fitch

RBI's new NPA norms may undermine bank earnings: Fitch

Thu, Feb 22, 2018

Stronger regulatory efforts to clean-up bad loan problems, combined with planned recapitalisation of state banks, could help support a recovery in the sector over the medium term.

IT, PSU banks' stocks snap losing streak, prop up Sensex, Nifty

IT, PSU banks' stocks snap losing streak, prop up Sensex, Nifty

Wed, Feb 21, 2018

After three consecutive days of losses, the key Indian equity indices today closed up riding on broadly positive Asian markets and a surge in IT stocks.

New RBI committee to look into divergences, frauds, bank audits

New RBI committee to look into divergences, frauds, bank audits

Wed, Feb 21, 2018

Almost a fortnight after the Rs 11,300 crore fraud broke out at the Punjab National Bank (PNB) involving diamond billionaire Nirav Modi and his associates, Reserve Bank of India (RBI) has come out with preventive measures to guard against such practices while also strengthening the SWIFT operatin

What are our auditors doing? Arun Jaitley lashes out on PNB fraud

What are our auditors doing? Arun Jaitley lashes out on PNB fraud

Wed, Feb 21, 2018

The finance minister said an example should be made of the fraudulent people involved in the scam and such examples should never be repeated again.

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