News for Punjab National Bank (PNB.BO)

Atul Kumar Goel appointed as Chief Executive of Indian Banks’ Association, with extensive banking experience in top institutions.

Punjab National Bank (PNB) has announced changes to its RuPay debit card benefits, including revised lounge access rules and the discontinuation of select offers. Starting April 1, 2025, new policies will apply to airport lounge access for Rupay Debit Select cardholders. Additionally, the Amazon and Swiggy Friday discount offers on the RuPay Debit Platinum Card will be discontinued after March 31, 2025. Here's a detailed look at the upcoming changes. PNB new rules on these cards

Maharashtra State Road Development Corporation has secured funding commitments of 215 billion rupees from lenders for a road project near Mumbai. The key lenders include Rural Electrification Corporation, National Bank for Financing Infrastructure and Development, and India Infrastructure Finance Company Ltd. The road construction is set to start in the next financial year.

The Nifty Bank index was trading 0.09 per cent up at 48541.75.

Retail investors face losses as institutional investors, considered 'smart money', also suffer in the recent market correction.

The two banks which recently added to the list are Tamilnad Mercantile Bank (included on March 5, 2025) and IDFC First Bank which got added on Nov 27, 2024. Another bank which added to the list is Dhanlaxmi Bank on June 26, 2024.

The Nifty Bank index closed 0.27 per cent down at 48497.5.

The Nifty Bank index was trading 0.1 per cent up at 48675.6.

The Nifty Bank index closed 0.28 per cent up at 48627.7.

Nifty PSU Bank outperformed the Nifty 50 on Thursday, rising by 0.74% compared to the benchmark’s marginal gain of 0.13%. This rally in PSU Bank stocks followed the Reserve Bank of India’s announcement of enhanced liquidity measures.

The Nifty Bank index was trading 0.13 per cent up at 48553.45.

The Nifty Bank index closed 0.51 per cent up at 48489.95.

Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.

The Nifty Bank index was trading 0.42 per cent up at 48447.3.

The Nifty Bank index was trading 0.34 per cent up at 48279.7.

Fitch Ratings on Monday said Indian banks have maintained strong performance in the first nine months of the current financial year, with the sector’s impaired loan ratio nearing its lowest levels. The global rating agency noted that improvements in key financial metrics over the past few years have bolstered banks’ Viability Ratings.

After the RBI repo rate cut, banks such as SBI, Canara Bank, PNB, and Union Bank among others have cut their repo linked lending rates. Most other banks are also expected to cut their lending rates in line with the RBI rate cut.

The Nifty Bank index was trading 0.69 per cent down at 48407.75.

Nirav Modi, imprisoned in London and awaiting potential asylum, recently appeared in court via video link regarding a USD 8 million bank loan dispute. The UK court has adjourned his application, pending his appeal for access to a working laptop to prepare his defense.