The bank will be responsible for taking the mixed gold to mint and getting it purified.
Retail inflation declined to a three-month low of 5.1 per cent in January, mainly due to subdued prices of vegetables, fruits and other food items, according to government data released on Monday. The fall indicates that retail inflation is inching towards the Reserve Bank's comfort level of 4 per cent. The Consumer Price Index (CPI) based inflation was on the rise for two straight months after touching a trough of 4.9 per cent in October 2023. In December, it stood at 5.69 per cent.
The issuance of NBWs by a court also opens door of seeking Red Corner notices against both of the accused from the Interpol.
The response was tepid in other parts of the country even as several INDIA bloc parties as well as other non-BJP outfits extended their support to the bandh.
Punjab National Bank is planning to open a subsidiary in the United Kingdom in a bid to make its presence felt in the international arena.
The Congress is banking on decisions like reducing electricity tariff and fuel prices, taken during current CM Charanjit Singh Channi's 111-day tenure.
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
Punjab National Bank has reserved 800,000 shares of its proposed public offer for small investors holding the bank's shares worth up to Rs 100,000.
Punjab National Bank on Friday reported a 21 per cent increase in net profit at Rs 314.27 crore (Rs 3.14 billion) for the quarter ended December 31, 2004 compared to Rs 259.8 crore (Rs 2.59 billion) during the corresponding period last fiscal.
Mixed global cues and decline in crude oil prices further dent the sentiments.
In what could trigger another interest rate war, the Punjab National Bank has announced an array of concessions under its festival bonanza including 0.50 per cent cut in housing loans at 7.75 per cent.
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
The Income Tax Department had last month auctioned several art works that were owned by absconding diamond merchant Nirav Modi for Rs 59.37 crore.
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
The heat wave is likely to impact parts of Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Punjab, Haryana, Delhi, Rajasthan, Madhya Pradesh, Jharkhand, Odisha and Gangetic West Bengal, the Met office said.
Despite Nirav Modi win, in the last five years, India managed to bring only about 20 fugitive offenders.
A UK court hearing an urgent application on Monday refused to sanction the release of substantial sums held with the Court Funds Office (CFO) as part of bankruptcy proceedings being pursued against liquor tycoon Vijay Mallya by a consortium of Indian banks, led by the State Bank of India (SBI).
'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
Punjab National Bank has revised the interest rate on the Foreign Currency Non-resident Bank deposits denominated in dollar, pound and euro.\n\n
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
In a message to public sector banks (PSBs) that only performers will survive, the government, in an unprecedented move, has decided to allocate capital to only nine PSBs.
The diamond merchant wanted in India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts.
Despite high exposure of public sector banks to power, iron and steel sectors, analysts remain in a wait-and-watch mode.
What was the RBI doing, what was the PNB top management doing, what were the auditors doing, asks Debashis Basu.
They said the global arrest warrant against the Belgian national Nehal, 40, has been issued on charges of alleged money laundering that is being probed by the Enforcement Directorate.
Punjab National Bank (PNB), the country's third largest lender, followed its peers to lower its benchmark rate, giving in to the government's wish that rates needed to fall to boost consumer lending.
Punjab National Bank on Tuesday slashed interest rates by 15-30 basis points on non-resident rupee deposits and foreign currency bank deposit schemes.
Challenging the "illegal" reduction in its claim by the erstwhile resolution professional (RP) in the Jet Airways revival plan, the Punjab National Bank (PNB) has moved the National Company Law Appellate Tribunal (NCLAT) citing discrimination. The NCLAT on Thursday issued notices to RP Ashish Chhawchharia and the committee of creditors on PNB's plea to set aside the insolvency court's approval of the airline's revival plan. It has posted the matter for further hearing on September 21.
A report prepared by DIG, Haridwar, Ashok Kumar says Rana was involved in the Punjab National Bank dacoity at Ashley Hall in 1997.
The actor had appeared in the a TV commercial for the brand along with Sidharth Malhotra.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
Cyber crimes in 2016-2017: 1,372 cases. Cost: Rs 423 million.
Public sector lender Bank of India has moved to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Future Retail Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm. Besides, Bank of India (BOI), the lead banker of a consortium of banks that lent money to Future Retail Ltd (FRL), also suggested the insolvency tribunal appoint Vijay Kumar V Iyer as the interim professional of the company. Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the "process of taking legal advice".
DLF, Indiabulls Real Estate, HDIL, YES Bank, Union Bank of India and Maruti Suzuki are down 4-12% on NSE.
Punjab National Bank has posted a 28.2 per cent rise in net profit at Rs 322.67 crore for the quarter ended June 30, 2004 as compared to Rs 251.76 crore in the quarter ended June 30, 2003.
The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
