Punjab National Bank (PNB) on Tuesday said there is no proposal to change the name of the bank following the merger of two other public sector lenders Oriental Bank of Commerce (OBC) and United Bank of India (UBI) with itself.
Punjab National Bank (PNB) on Tuesday reported a standalone net loss of Rs 492.28 crore for December quarter 2019-20 due to substantial increase in bad loan provisioning.
Debit Card users alert! Are you debit card users of SBI, PNB, HDFC, ICICI, or other banks? Then this is important new for you! All public and private banks will block debit cards (ATM cards) which doesn't have EMV (Europay, Mastercard and Visa) after 1st January 2020. According to the Reserve Bank of India (RBI) guidelines, all Indian banks need to replace the magnetic debit card of their customers with a new EMV card.
For starters, in the Forensic Audit - conducted by the Belgium-headquartered BDO's India branch - it was found how Choksi's company Gitanjali Gems Ltd's multiple exporters of rough diamonds used a common account in the same bank, according to sources.
A court on Saturday refused to cancel a non-bailable warrant issued by the Enforcement Directorate against fugitive diamond merchant Mehul Choksi, a key accused in the alleged Punjab National Bank (PNB) scam.
The 48-year-old diamond merchant, who is fighting extradition to India on charges of nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case, was produced before Chief Magistrate Emma Arbuthnot at Westminster Magistrates’ Court here for his fourth attempt at bail.
The scrip plunged 5.06 per cent to close at Rs 64.75 on the BSE. During the day, it tumbled 5.71 per cent to Rs 64.30.
Nirav Modi moved the bail plea in a London court against his continued detention and has asked for house arrest.
Nirav Modi moves new bail application, hearing on Nov 6
The merger is scheduled to come into force from April 1 next year.
Modi's lawyers, in their application before special Judge V C Barde, claimed that the ED was relying upon evidence and statements recorded under the Prevention of Money Laundering Act to seek a remedy under the FEO Act.
Choksi and his nephew Nirav Modi, who both fled the country a year ago, are key accused in the USD 2 billion PNB fraud case. Choksi was granted citizenship of Antigua and Barbuda on January 15, 2018.
Sumer Singh, senior manager at the PNB's Kanwali branch in Rewari district of Haryana, and his accomplice Satish were nabbed by the agency while the latter was accepting the bribe from the complainant, they said.
On September 20, Finance Minister Nirmala Sitharaman announced slashing the basic corporate tax rate for domestic companies to 22 per cent from 30 per cent. The effective tax rate for domestic companies reduced to 25.17 per cent from 34.94 per cent inclusive of surcharge and cess.
"Everything relating to the merger is going on smoothly. We don't foresee any challenges. Other banks have done it successfully and we can repeat that,said Sunil Mehta, the Managing Director and CEO of PNB.
Fugitive diamantaire Nirav Modi wanted in connection with the nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case, will appear before a UK court via videolink from his London prison on Thursday for a routine “call-over” remand hearing.
The Interpol has issued a Red Corner Notice (RCN) against Nehal Modi, a stepbrother of Nirav Modi, the prime accused in the USD 2 billion PNB scam case, officials said on Friday. They said the global arrest warrant against the Belgian national Nehal Modi, 40, has been issued on charges of alleged money laundering being probed by the Enforcement Directorate.
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) on Monday said the board will consider capital infusion of up to Rs 18,000 crore in its meeting later this week. It comes against the backdrop of the government's announcement on August 30 about merging 10 public sector banks into four entities, as part of which PNB will merge Oriental Bank of Commerce (OBC) and United Bank of India (UBI) with itself.
Leading state-owned lender Punjab National Bank and Allahabad Bank on Tuesday announced linking of their retail loans with the Reserve Bank's repo rate, which will make loans cheaper.
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