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Moody assigns Counterparty Risk Rating (CRR) and upgrades CR assessment of PNB to Baa3(cr) from Ba1(cr)/NP(cr)

Moody assigns Counterparty Risk Rating (CRR) and upgrades CR assessment of PNB to Baa3(cr) from Ba1(cr)/NP(cr)

🕔20:14, 12.Jun 2018

New Delhi, June 12 Following the bank’s strong recovery and the government of India’s continued support, Punjab National Bank (PNB) has been assigned Counterparty Risk Rating (CRR) from Moody’s Investors Service. PNB has managed to surpass the total amount recovered in

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Fitch downgrades PNB’s viability ratings

Fitch downgrades PNB’s viability ratings

🕔10:53, 5.Jun 2018

Mumbai, June 5  Fitch Ratings has downgraded the viability rating (VR) of state-owned Punjab National Bank (PNB) to ‘b’ from ‘bb-‘ and maintained it on rating “watch negative” (RWN). “The two-notch downgrade to PNB’s VR is a reflection of the

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PNB retirees urges confidence building measures by government

PNB retirees urges confidence building measures by government

🕔10:00, 23.May 2018

New Delhi, May 22 The Pensioners and Retirees Association of the multi-crore fraud-hit Punjab National Bank (PNB) has called upon the central government to initiate “confidence building exercise” as recent developments have “demoralised bankers” and underminned the importance of state-owned

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PNB fraud: ED seizes Rs 85 cr jewellery in Choksi case

PNB fraud: ED seizes Rs 85 cr jewellery in Choksi case

🕔09:40, 18.May 2018

New Delhi, May 18  The ED on Thursday seized over 34,000 pieces of jewellery valued at Rs 85 crore in connection with its ongoing probe against absconding businessman Mehul Choksi who is accused along with his diamantaire nephew Nirav Modi

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PNB Delhi Zone organized a Rinn Vitran Samaroh (Loan Mela) under PMMY

PNB Delhi Zone organized a Rinn Vitran Samaroh (Loan Mela) under PMMY

🕔19:20, 17.May 2018

New Delhi: Punjab National Bank Delhi Zone organized a Rinn Vitran Samaroh (Loan Mela) under Pradhan Mantri Mudra Yojana (PMMY) at Dr. Ambedkar International Centre, New Delhi, wherein 450 Mudra loans were disbursed to different beneficiaries pertaining to SC/ST/OBC/minority section

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PNB shares plunge 14% after Q4 loss, Jefferies suggests bailout

PNB shares plunge 14% after Q4 loss, Jefferies suggests bailout

🕔19:19, 16.May 2018

Mumbai, May 16 Shares of multi-crore fraud hit Punjab National Bank (PNB) slumped around 14 per cent (intra-day) on Wednesday, a day after the bank reported a loss of over Rs 13,000 crore for the fourth quarter of 2017-18. Looking at

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Bank will bounce back from fraud hit in 6 months: PNB Chief

Bank will bounce back from fraud hit in 6 months: PNB Chief

🕔10:16, 2.May 2018

New Delhi, May 2  State-run Punjab National Bank (PNB) said on Tuesday that it will recover from the impact of the recent fraud in six months’ time and is actively working to improve its internal systems by incorporating analytics and

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PNB aims for 12 lakh crore business by FY’19

PNB aims for 12 lakh crore business by FY’19

🕔19:19, 1.May 2018

New Delhi, May 1, 2018: Punjab National Bank’s (PNB) Circle Head Conference held at its Head Office in Dwarka concluded on Monday. The guidance from PNB leadership for FY ’19 is total business of INR 12 lakh crore which will

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PNB to hire detective agencies for recovering NPA dues

PNB to hire detective agencies for recovering NPA dues

🕔11:45, 26.Apr 2018

New Delhi, April 26  Lender Punjab National Bank (PNB) is set to hire detective agencies to supplement the efforts of its field officials in recovering its dues that have become in NPAs (non-performing assets). The lender through its website invited

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PNB strengthens recovery efforts: Name-and-shames willful defaulters; boosts Mission Gandhigiri

PNB strengthens recovery efforts: Name-and-shames willful defaulters; boosts Mission Gandhigiri

🕔19:47, 20.Apr 2018

PNB to name and shame 1084 willful defaulters Mission Gandhigiri to result in recovery of INR 100-150 cr month-on-month Tie-up with credit agency helps in tracing of defaulters New Delhi, 20 April, 2018: Punjab National Bank is strengthening its recovery

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STATEMENT FROM PNB ON AVAILABILITY OF CASH IN ATMs

STATEMENT FROM PNB ON AVAILABILITY OF CASH IN ATMs

🕔19:46, 18.Apr 2018

“Overall, Punjab National Bank has not faced any cash shortage in its ATMs across the country and continue to function as usual. Out of 9679 PNB ATMs, there is a 90% availability of ATMs which is normal. The bank would

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Fraud fallout: PNB tightens norms, to separate loan appraisal and monitoring teams

Fraud fallout: PNB tightens norms, to separate loan appraisal and monitoring teams

🕔09:37, 14.Apr 2018

New Delhi, April 14  To avert any future fraud, the 124-year-old state-run lender Punjab National Bank said that it has strengthened internal audit controls by having separate “pre-sanction appraisal and post sanction monitoring” teams for credit disbursal. Besides, the lending

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PNB not providing information on Nirav Modi under RTI: Activist

PNB not providing information on Nirav Modi under RTI: Activist

🕔19:17, 27.Mar 2018

Mumbai, March 27  The Punjab National Bank has refused to provide any information pertaining to absconding scamster, diamantaire Nirav Modi, to queries sought under RTI, an activist said here on Tuesday. Anil Galgali said that he had sought specific RTI

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PNB plans vertical to recover stressed assets

PNB plans vertical to recover stressed assets

🕔20:36, 26.Mar 2018

New Delhi, March 26  Faced with a multi-billion dollar fraud, along with the problem of non-performing assets (NPAs), state-run lending major Punjab National Bank (PNB) has decided to form a separate “vertical to deal with its stressed assets”. According to

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PNB issued over 41,170 LoUs since 2011: Jaitley

PNB issued over 41,170 LoUs since 2011: Jaitley

🕔10:40, 23.Mar 2018

New Delhi, March 23  The central government has said that state-owned Punjab National Bank (PNB) has issued 41,178 Letters of Undertakings (LoUs) since 2011. “PNB has apprised that 7,672 LoUs were issued with validity of 90 days, 20,078 LoUs were

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Ex-PNB official Shetty booked in Rs 9-cr LoU fraud with another company

Ex-PNB official Shetty booked in Rs 9-cr LoU fraud with another company

🕔19:30, 15.Mar 2018

New Delhi, March 15  Apparently, the Nirav Modi and Mehul Choksi groups were not the only ones indulging in frauds related to Letters of Undertaking (LoUs) issued by the Punjab National Bank (PNB) officials. The Central Bureau of Investigation (CBI)

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PNB clarification: Rs 942 cr not new fraud but recall of credit limits

PNB clarification: Rs 942 cr not new fraud but recall of credit limits

🕔20:30, 13.Mar 2018

The amount of Rs 942 cr were the regular limits sanctioned to Geetanjali Group under consortium lending, and were standard credit exposure at the time of detection of the fraud. Now, this exposure is being added to the existing fraudulent

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Observance of International Women’s Day at Punjab National Bank

Observance of International Women’s Day at Punjab National Bank

🕔10:59, 10.Mar 2018

On the occasion of International Women’s Day, to motivate the women workforce Punjab National Bank organized an event in its premises whereby appx. 350 women employees were inspired by the deliberations by eminent women achievers of the city. Dr. Jayanti

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CBI registers fresh Rs 321 crore case against Nirav Modi

CBI registers fresh Rs 321 crore case against Nirav Modi

🕔11:32, 8.Mar 2018

New Delhi, March 8  The CBI on Thursday said that it has registered a fresh case against diamantaire Nirav Modi for causing a loss of Rs 321 crore to Punjab National Bank (PNB) by availing different credit facilities between 2013

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SFIO grills PNB CEO for five hours

SFIO grills PNB CEO for five hours

🕔20:35, 7.Mar 2018

Mumbai, March 7  Continuing the probe into the Punjab National Bank fraud, sleuths of the Serious Frauds Investigation Office (SFIO) questioned the bank’s Managing Director and CEO Sunil Mehta here on Wednesday. Mehta was grilled by the investigators for around

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