News for Punjab National Bank (PNB.BO)

The Nifty Bank index closed 0.97 per cent down at 54664.05.

The Nifty Bank index closed 0.3 per cent down at 55201.4.

The Nifty Bank index closed 0.62 per cent up at 55647.2.

MTNL Loan Default: Late on Saturday last week, MTNL said it had defaulted on loan repayments of more than ₹8,346 crore to multiple banks led by Union Bank of India. State-owned Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab & Sind Bank and Indian Overseas Bank are also creditors of the company, according to the disclosures.

MTNL defaults on bank loans worth ₹8,346.24 crore; Adani Ports acquires Australian coal terminal; BHEL posts revenue growth.

India-Business News: State-run telecom firm MTNL has defaulted on bank loans worth Rs 8,346 crore from seven public sector banks, the company said in a regulatory filing. .

MTNL defaults on Rs 33,568 crore debt, including bank loans and sovereign guarantee bonds, as per regulatory filing.

Millions of Indians are employed by major companies and organisations that play a vital role in the country’s economic development.

"The total outstanding principal amount stands at Rs 7,794.34 crore, while the interest due is Rs 482.97 crore," MTNL said in its filing.

India’s banks are headed for a muted March quarter, with slowing credit and deposit growth, elevated funding costs, and rising stress in unsecured loans weighing on performance. Analysts say the sector may be nearing a cyclical bottom—but multiple risks cloud the road ahead.

Finance Minister Nirmala Sitharaman to review progress of 'One state-one RRB' consolidation on May 6.

Finance Minister Nirmala Sitharaman is likely to review the implementation and progress of 'One State - One Regional Rural Bank' on May 6. One state-one RRB will become a reality from May 1 with consolidation of 15 Regional Rural Banks across 11 states to achieve better operational efficiency and cost rationalisation.

The Bombay High Court has sought clarification from the Enforcement Directorate (ED) regarding diamond merchant Mehul Choksi's citizenship status. This query arose during a hearing on Choksi's petition challenging the rejection of his plea to cancel non-bailable warrants in a money-laundering case.

Mehul Choksi, wanted in the PNB fraud case, is set to challenge his arrest in Belgium, citing violation of natural justice and seeking bail. His legal team will argue against flight risk due to ill-health and community ties, while India opposes his release.

PSU banks have rebounded, delivering up to 23% returns in a month, driven by RBIs rate cut stance and improving asset quality. Experts see further upside, with stocks like SBI, BoB, and Canara Bank showing strong potential.

The Nifty Bank index was trading 0.61 per cent up at 52700.45.

A number of public sector banks including SBI, PNB, Indian Bank have Bank of Maharashtra have cut their repo linked lending rates on home loans in the past few days

Data showed fund managers bought just over Rs 18,000 crore worth 10 shares that included Jio Financial Services Ltd, Bajaj Finserv and Max Financial.

Leading banks cut deposit rates following RBI repo rate cut, affecting savings plans, while lending rate cuts may benefit borrowers.