Punjab National bank
17:02
Showing posts with label Punjab National bank. Show all posts
Showing posts with label Punjab National bank. Show all posts
Thursday, 2 April 2020
Tuesday, 26 November 2019
Tuesday, 10 September 2019
Thursday, 5 September 2019
Tuesday, 20 August 2019
Punjab National bank
23:15
Unfair Practices Adopted in the Enquiry Processes on Charge Sheets Related to Alleged Fraud at Brady House ,Mumbai
Unfair Practices Adopted in the Enquiry Processes on Charge Sheets Related to Alleged Fraud at Brady House ,Mumbai
Wednesday, 10 July 2019
Punjab National bank
07:20
Grand of Financial Assistant to Staff Members of Odisha-Fani Flood and Cyclone
Grand of Financial Assistant to Staff Members of Odisha-Fani Flood and Cyclone
Download Original Document
Tuesday, 18 June 2019
Saturday, 18 May 2019
Saturday, 6 April 2019
Punjab National bank
08:01
Bank of Baroda, Dena Bank and Vijaya Bank to be injected with Rs. 5000 crore
Bank of Baroda, Dena Bank and Vijaya Bank to be injected with Rs. 5000 crore
Bank of Baroda, Dena Bank and Vijaya Bank to be injected with Rs. 5000 crore
The Bank of Baroda may get Rs 5,000 capital infusion from the Finance Ministry ahead of its united operations as a merged entity along with the Vijaya Bank and Dena Bank from April 1, 2019. In February, the government approved Rs 48,239-crore recap bonds in 12 PSBs.
The latest recap bonds broadly fall into four categories:
a) equipping better-performing PCA (prompt corrective action) banks to be above regulatory PCA thresholds to help them come out of the framework (Allahabad Bank, Corporation Bank, who have already come out of the PCA);
b) Non-PCA banks that are close to the red line to ensure they don't fall into PCA (Punjab National Bank, Union Bank, Syndicate Bank and Andhra Bank);
c) PCA banks that have exited PCA to remain above PCA triggers (Bank of India, Bank of Maharashtra);
d) And other PCA banks that need to meet minimum regulatory capital norms (Central Bank, United Bank, UCO Bank and Indian Overseas Bank).
The government has so far pumped Rs 1.90 lakh crore into PSBs since it announced the recapitalisation plan in October 2017. The Finance Ministry has kept around Rs 5,000 crore as buffer for any last-minute contingency, for possible infusion into the merged entity of Bank of Baroda, Dena Bank and Vijaya Bank. The merger will create India's third largest bank with a total business of over Rs 14.82 lakh crore. When the three banks are merged, the combined entity's capital adequacy ratio will be at 12.25 per cent, with tier-1 capital at 9.32 per cent and net non-performing assets at 5.71 per cent. The merged entity will have nearly 9,500 branches.
Sources said the capital may be infused as Dena Bank is a weak PCA bank and it should not drag down the the overall balancesheet of the Vijaya Bank and Bank of Baroda on regulatory capital breach when they start operations from April 1 and also for lendings. MD and CEO of Bank of Baroda P.S. Jaykumar may head the merged entity, the sources added.
The government in September 2018 announced the merger of state-owned Vijaya Bank and Dena Bank with larger Public Sector Bank (PSB) Bank of Baroda to create the third largest lender after SBI and ICICI Bank in the country. The merger plan got the Union Cabinet's nod in January. It was part of the government's strategy to promote consolidation in the sector marred by loads of non-performing assets (NPAs). However, this is the first three-way merger in the public sector banking space.
According to UFBU the merger of the Bank of Baroda, Dena Bank and Vijaya Bank is "unwarranted" and will surely result in closure of branches.
Source:AIPNBSF
Friday, 1 February 2019
Thursday, 15 March 2018
Monday, 12 March 2018
Monday, 26 February 2018
Tuesday, 20 February 2018
XIth Bipartite
06:11
IBA & Union Meeting On 21.02.2018 Postponed
IBA & Union Meeting On 21.02.2018 Postponed
Negotiating Committee Meeting between IBA & Unions/Associations on XIth Wage Revision scheduled to be held on 21.02.18 postponed
Vide its letter dated 17th February 2018, IBA informed that due to some unforseen circumstances, it has been decided to postpone Negotiating Committee Meeting with Unions/Associations scheduled to be held on 21st February 2018. Next date of the meeting will be advised by IBA in due course.
Source:AIpnbsf
Monday, 19 February 2018
Sunday, 23 April 2017
TAXES
08:07
PUNJAB NATIONAL BANK EMPLOYEES HOUSING LOAN AND CAR LOAN AMENDMENT CHART
PUNJAB NATIONAL BANK EMPLOYEES HOUSING LOAN AND CAR LOAN AMENDMENT CHART
Source:PNB UNION w.b,PNB UNION w.b
Wednesday, 19 April 2017
Punjab National bank
08:19
After SBI merger, now Punjab National Bank and Bank of Baroda may take over smaller lenders
After SBI merger, now Punjab National Bank and Bank of Baroda may take over smaller lenders
NEW DELHI: The government is working on a road map for the overhaul of state-run lenders that involves the next round of consolidation, public offers in the next few months by banks to raise fresh capital, and changes in the hiring policy, including increased lateral entry. This could see Punjab National Bank (PNB) and Bank of Baroda taking over smaller lenders, said a senior finance ministry official.
The government is actively looking at candidates for consolidation with the Prime Minister’s Office keen on having a few large banks rather than several smaller ones, he said. “We may start with some low-hanging fruit. For example, Punjab & Sind Bank can be merged into Punjab National Bank. Big lenders like Bank of Baroda can take over some turnaround banks in the southern region, like Indian Overseas Bank,” the official said, adding that various permutations and combinations are being discussed. The banks couldn’t immediately be reached for comment.
No decision has been made as yet and these plans are only at the proposal stage.
This comes as the finance ministry is working closely with the Reserve Bank of India to address non-performing assets. Last week, RBI had unveiled stricter norms under the revised prompt corrective action framework, which may force lenders to consolidate in case they don’t meet the regulatory requirements.
“Primarily, we are only going to be matchmakers, but, yes, if RBI feels that such action is necessitated in terms of regulatory requirements, we may act accordingly,” said the official cited above, hinting that the government will also suggest options to the lenders.
“All these plans are fluid, as we also need to take clearances from the Competition Commission, as followed in the case of Bharatiya Mahila Bank and SBI merger,” he said.
State Bank of India absorbed five associate lenders and Bharatiya Mahila Bank earlier this month, boosting India's No. 1 bank’s financial muscle.
The government will push large state-owned lenders to tap the markets this fiscal, another government official said. “Under the Indradhanush road map, banks were to raise Rs 1.8 lakh crore from the markets for capitalisation,” he said. “We expect large banks to explore that route.”
That money will be needed as the government has allocated just Rs 10,000 crore toward capital infusion in banks this fiscal.
Indradhanush is a seven pronged revamp plan for state-run banks that the government announced in 2015.
It included a programme to deal with bad debt and called for capital infusion to the tune of Rs 70,000 crore till FY19.
The government will also push seven public sector banks — United Bank of India, Indian Bank, Bank of Maharashtra and Central Bank of India among them — to tap the markets in the next five months to meet the 25% public shareholding norm.
The government is also looking to allow lateral entry in banks and will work closely with the Banks Board Bureau to reform the human resource structure at the state-owned lenders.
The latest development appears to be a broader plan than the one that Banks Board Bureau chief Vinod Rai alluded to in an interview with Reuters last month. He had suggested that “two large Mumbaibased banks” could potentially merge in the current financial year.
Source:Economic Times
Saturday, 15 April 2017
Wednesday, 8 March 2017
Punjab National bank
07:11
Cash transactions: PNB not to levy charges for now
Cash transactions: PNB not to levy charges for now
To strengthen digital infrastructure
With the government asking SBI and other lenders to reconsider levying charges on cash transactions and ATM withdrawals above a certain limit, public sector lender PNB has adopted wait-and-watch policy. At the same time, the bank has said, it is strengthening its digital infrastructure and plans to launch digital bank within bank.
“Some of the banks have increased charges and fee on various services, but at the same time there is a request from the government to reconsider the decision. We don’t have any plan to introduce charges and fees on services as of now. However, I must say in order to move to digital channel, there is a cost attached to it,” said Usha Ananthasubramanian, MD & CEO, Punjab National Bank. She was in Panchkula today to distribute sewing machines to the SC women beneficiaries who were trained by Rural Self Employment Training Institute, Panchkula.
The government yesterday asked the SBI to reconsider its decision to levy penalty on non-maintenance of minimum balance. The bank has announced imposing a penalty ranging from Rs 20 to Rs 100 on non-maintenance of Minimum Average Balance (MAB) in savings bank accounts from April 1. Some private banks such as HDFC Bank, ICICI Bank and Axis Bank have already started charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.
On being asked about digital infrastructure the bank is planning to develop, she said, “Brick and mortar branch model can’t be eliminated. To promote digital adoption, we are planning to launch digital bank within bank. We are working on the modalities and it is likely to take a year.”
After the demonetisation, the bank has received deposits worth Rs 93,000 crore. She said out of this, Rs 14,000 crore was deposited in loan accounts and Rs 200 crore to settle NPA accounts.
When asked about the reasons for low credit offtake, she said, “There are three main reasons behind it. First, the economy is not picking up as anticipated. Second, no new projects are coming up and thirdly bond market is getting stronger. However, we will continue to focus on agriculture, MSE and retail sector which is perennial cluster to boost credit offtake.”
She said the bank has identified assets worth Rs 1,800 crore which will be sold by the month-end to recover bad loans.
Source:Tribune India
Friday, 10 February 2017
Union Bank of India
08:04
NPCI expects all public sector banks to join BHIM by February-end
NPCI expects all public sector banks to join BHIM by February-end
New Delhi: With the aim to scale up the usage of Bharat Interface for Money or BHIM, the National Payments Corp. of India (NPCI) is working to ensure that all the public sector banks (PSBs) are integrated to the app by the end of this month.
“The PSBs which will go live very soon on the platform are Corporation Bank, Punjab and Sindh Bank and five associates of State Bank of India. We are working with these seven banks to ensure that all of them are a part of the platform by the end of this month,” said A. P. Hota, managing director & chief executive officer, NPCI, in a statement.
Currently, 37 banks are already integrated to BHIM including PSBs like State Bank of India, Bank of India, Bank of Baroda and Union Bank of India. With the seven banks joining the platform very soon, all the PSBs will be a part of BHIM’s interface.
“Since the customer base of PSBs is very large, their participation in BHIM is of crucial importance for the success of this app. We are confident that once all PSBs are a part of BHIM, the user base will jump multiple times,” said Hota.
The app was launched on December 30 by Prime Minister Narendra Modi to promote digital transactions using the Unified Payments Interface (UPI), a bank-to-bank fund transfer system backed by internet and smartphones, using phone numbers linked to banks.
According to NPCI, till 31 January, 13.8 million customers downloaded the app out of which 3.6 million customers have linked the app to their bank account.
“The gap in the number of app downloads and the number of customers linking the app to their bank account has been because it is observed that most of these customers have downloaded BHIM without checking if their bank is active on the platform,” the statement added.
Last month, a new version 1.2 was launched with additional features like ‘Pay to Aadhaar Number’, and spam report’. The new version also has seven new languages apart from English and Hindi.
Source:BusinessFortnight
Source:BusinessFortnight
