The reserve price for the six non-performing assets (NPAs) has been fixed at Rs 342 crore.
The prisons department last week shared information with the state Home department about the status of the Arthur Road prison and facilities that can be provided there, in case Modi is to be lodged in the barrack.
Former RBI Governor Raghuram Rajan has flagged key issues that the new government needs to tackle immediately
The Delhi-based bank was earlier in the headlines in April for a possible merger with Union Bank of India and Bank of India
On March 29, the bank had entered into an agreement for sale of 1,08,91,733 equity shares held in PNB Housing Finance to Varde Holdings at Rs 850 per share, aggregating to Rs 925.80 crore
A high volume breakout of the support level offers a good short selling opportunity in PNB
The 48-year-old, who has been behind bars at Wandsworth prison in south-west London since his two previous bail applications were rejected following his arrest on March 19.
The Finance Ministry may hold a round of discussion with some public sector banks regarding the second round of mergers in the banking space
The 48-year-old, who has been behind bars at Wandsworth prison in south-west London since his arrest last month, is set to be produced before a judge at Westminster Magistrates' Court via videolink from the jail.
Mehul Choksi, the promoter of company, is currently on the run.
Choksi and his nephew diamantaire Nirav Modi are absconding after the biggest financial fraud came to light in February 2018 and are facing extradition from Antigua and Britain, respectively
PNB is part of a consortium of 26 lenders, led by State Bank of India (SBI), which have exposure to Jet Airways' debt of over Rs 8,000 crore.
In this part of the article, about dangers of using price-to-book value as a valuation tool, we dwell on the remaining three important cases where investors have to be careful.
In many insolvency-related cases, the realisable value of assets was not even enough to pay back loans and banks took a big haircut on their exposure
The top Nifty gainers include Indiabulls Housing Finance, Maruti Suzuki, Bajaj Finserv, HCL Tech and Tata Steel while BPCL, Zee Entertainment, IOC, GAIL India and State Bank of India are the top losers.
The breadth of the market favoured the advances with 920 stocks advancing and 821 declining while 348 remained unchanged. On the BSE, 1307 stocks advanced, 1,302 declined and 182 remained unchanged.
The top Nifty gainers included ONGC, Bharti Infratel, Bharti Airtel, Sun Pharma and GAIL India while the top losers included Eicher Motors, Hero Moto, Bajaj Auto, JSW Steel and Larsen & Toubro
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 21 points or 0.18 percent. Nifty futures were trading around 11,532-level on the Singaporean Exchange.
As the financial year-end nears, the country’s top lenders are hopeful to see progress soon from two major worrisome accounts—Jet Airways and Essar Steel.
According to reports, PNB expects to recover about Rs 2,500 crore from Essar Steel.
Jet Airways raised foreign currency term loans worth Rs 1,100 crore and a non-fund based credit facility of Rs 950 crore from PNB
Choksi, along with his nephew Nirav Modi, is accused of defrauding the state-run Punjab National Bank of Rs 13,000 crore.
Under the Mudra Yojana, the bank has offered loan to over 2.69 lakh small entrepreneurs this fiscal (till February 14, 2019).
The top gainers from NSE included Larsen & Toubro, Mahindra & Mahindra, HPCL, Bharti Infratel and Tata Motors while the top losers included Indiabulls Housing Finance, Wipro, Vedanta, Indian Oil Corporation and YES Bank.