The move by the second largest private sector lender will give better returns on fixed deposits, but will also make loans more expensive for existing customers.
Army XI made a stunning comeback in the second-half, pumping in four goals, to hold Air India 4-4 and keep their semi-final hopes alive in the 117th Beighton Cup hockey tournament in Kolkata on Wednesday.
The new rates vary from 8.80 to 9.05 per cent on various slabs of loans.
'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
He escaped the country in the first week and took the oath of allegiance in Antigua on January 15
She was the managing director and the CEO of PNB since August 14, 2015 before being appointed in Allahabad Bank on May 6, 2017.
The agency has so far seized diamonds, gold jewellery and other precious stones worth Rs 5,716 crore in the case and summoned Modi and Choksi, the promoter of Gitanjali Gems, to appear before it on February 23 at its Mubai zonal office.
One incident should not be used to generalise the health of all cooperative banks, says RBI governor Shaktikanta Das.
'The honourable prime minister virtually handpicked me for the Amritsar East seat.' 'Amit Shahji announced that if I am elected, the whole of Punjab will be drugs free.'
The total quantum of non-performing assets in the Indian banking system increased to Rs 7.33 trillion as of June 2017, from Rs 2.75 trillion in March 2015.
The Arun Jaitley-led finance ministry reiterated banks should act tough on wilful defaulters.
Several PSU lenders, including Canara Bank, Bank of India and Bank of Baroda, Syndicate Bank, have already slashed their benchmark prime lending rates by 0.75 per cent after Finance Minister P Chidambaram met state-owned banks' heads to discuss the possibility of rate cuts.
Switching to a damage-control mode, bankers and government officials claimed that Jet Airways wouldn't fall even if Etihad refuses to back the resolution plan and exits.
CEA offers three compelling arguments in his case for privatisation of government-owned banks.
The RBI on Friday imposed a fine of Rs 6.5 crore (Rs 65 million) on six public sector banks including IDBI Bank, Dena Bank and Indian Bank, for violation of customer identification or KYC norms and anti-money laundering guidelines.
The RBI has been critical of banks for using restructuring schemes to hide the stress.
Punjab National Bank has the largest share.
Nirav Modi, the fugitive diamond merchant wanted in India to face charges of fraud and money laundering in the estimated $2-billion Punjab National Bank (PNB) scam case, has lodged his appeal against extradition from the UK and the case will be heard at the high court in London on December 14. The 50-year-old jeweller, who remains behind bars at Wandsworth Prison in south-west London since his arrest in March 2019, was granted permission to appeal against the Westminster Magistrates' Court extradition order on mental health and human rights grounds. High court judge Martin Chamberlain had ruled on August 9 that arguments presented by Modi's legal team concerning his "severe depression" and "high risk of suicide" were arguable at a substantial hearing.
2014 sees slowest start to festival season in at least 7 years
It's time to re-examine government's role as owner of banks,
In his first interaction with the media after taking charge, former PNB chairman and managing director K C Chakrabarty said, "When the government is giving a certain interest rate on small savings, it is not logically correct for banks to provide a lower rate of interest. When we are saying that interest rates are coming down, that means the small savings rate should also come down."
Seven public sector entities including the Life Insurance Corporation and State Bank of India on Friday submitted expressions of interest to the Pension Fund Regulatory and Development Authority
State Bank of India has agreed to lend Vodafone-Essar, the joint venture between United Kingdom's Vodafone and Essar, Rs 10,000 crore to finance the company's entry into 3G (third generation) telecom services and expansion of its broadband operations.
The recent hike in the rates will hurt your finances further. Time to do some stock-taking.
Bankers say loan demand was more muted this festival season than last year.
Analysts expect banks with a strong deposit franchise to benefit from SBI's rate cut as they too are likely to follow the leader.
According to the general secretary of the All India PNB Officers' Association, K D Khera: "The bank has a staff strength of about 57,000 in all cadres.
Bankers expect credit to pick up after Jan 15.
Eight persons, including five Special Auxiliary Police personnel and an assistant sub-inspector, were killed and three others seriously injured in a heavy exchange of fire between the police and banned Maoist activists at Raniganj in Bihar's Gaya district on Thursday.
An analysis of buy and sell transactions by mutual funds during May shows that the fund houses purchased stocks from sectors like power, software, housing finance and sugar, while offloading shares from banking, refineries and airlines. According to brokerage firm Sharekhan, state-run NTPC, ONGC, TCS, Essar Oil and Reliance Petroleum figure among the favourite picks by the equity funds in the month of May.
The country's largest lender, SBI, has reduced marginal cost of funds based lending rate by 0.9 per cent from 8.90 per cent to 8 per cent for one-year tenure, the bank said in a statement.
The public offer of eight crore shares by Punjab National Bank, which closed on Friday, has attracted bids for 104.37 crore shares - a subscription of 13 times.
The 49-year-old jeweller, who has been lodged at Wandsworth Prison in south-west London since his arrest in March last year, appeared via videolink for the remand hearing at Westminster Magistrates' Court in London.
Housing Development Finance Corporation (HDFC) Chairman Deepak Parekh on Tuesday said that interest rates may rise owing to higher inflation, but lending rates are unlikely to change in the next one month.
The country's largest lender SBI will levy charges for cash withdrawal beyond four free transactions in a month from customers holding the basic savings bank deposit (BSBD) accounts. These customers will also be levied charges for cheque book beyond 10 leaves in a year. As per the revision in service charges for BSBD accounts, State Bank of India (SBI) will levy charges ranging from Rs 15 to Rs 75 for the "additional value added services" with effect from July 1, 2021.
Punjab National Bank is the second largest PSU bank, in which government holding is 58.87 per cent.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
A new wave of e-trading in partnerships with private broking houses is getting popular with banks in recent times.
