The Nifty Bank rose over 300 points to close at 44,814. It hit an intraday high of 44,951 and an intraday low of 44,531. The Nifty50 rose more than 100 points to close at 20,267

An analysis of the age-wise generation of DLCs reveals that more than 24,000 pensioners above the age of 90 years used digital mode, the statement said. The leading states for DLC generation are Maharashtra, Uttar Pradesh, and West Bengal, having generated 5.07 lakh, 4.55 lakh and 2.65 lakh DLCs, it said.

When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup.

“I would stick my neck out that UltraTech is headed to Rs 10,000 and beyond. So stay with the market leader as a vested interest, ACC, Ambuja and UltraTech are in our portfolios and we are very bullish on that entire space. You can add Shree Cement over there, given that pricing power is very strong for them and their cost is the lowest in the world.”

UltraTech Cement has acquired the cement grinding assets of Burnpur Cement in Jharkhand for Rs 169.79 crore. The acquisition involves 0.54 million metric tonnes per annum (mtpa) of cement grinding assets located at Patratu in Jharkhand. The deal was executed at a consideration of Rs 169.79 crore.

Typically, the tenure options are one month, three months, six months, a year, and three years. However, the majority of consumer loans are linked to a one-year term.

Borrowers from Delhi, Haryana, and Uttar Pradesh lead in fraudulent loan applications, particularly in the below INR 50,000 segment, according to a white paper by credit bureau Experian. The report highlights concerns about the credit appraisal processes of fintech companies, with millennials and postgraduates showing high rates of application fraud.

The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea from a UK-based subsidiary of Punjab National Bank against the approval of the sale of Sterling Biotech to US-based food technology startup Perfect Day. The Mumbai bench of the NCLT approved a Rs 638 crore bid of Perfect Day in an auction conducted by the liquidator of Sterling Biotech under the Insolvency & Bankruptcy Code.

Tighter Reserve Bank of India norms mean that the bank risk weights on loans for AAA NBFCs have now more than doubled to 45% from 20% earlier, while those for AA-rated NBFCs have increased to 55% from 30% and for A- rated NBFCs to 75% from 50% earlier. Higher risk weights require banks to set aside more capital to provide cover against such loans.

The recent central bank-mandated increase in risk weighting is expected to have varying effects on non-banking finance companies (NBFCs), with the steeper impact anticipated for higher-rated NBFCs. Despite the heightened risk weighting, lower-rated lenders may face greater challenges, as banks may still find it financially viable to lend to larger non-bank borrowers with comparatively lower risk profiles.

Nifty Bank index fell 0.09% on Thursday to close at 44,161. The index hit an intraday high of 44,420 but it failed to hold on to the momentum. Top index gainers include names like IDFC First Bank, PNB, and AU Small Finance Bank, while some profit booking was seen in Axis Bank and ICICI Bank.

The PSU banks continued to show a sustained improvement in the September quarter. At the aggregate level, the provisioning for bad loans or loan loss provisioning for the 12 listed PSU banks fell to Rs 16,552 crore compared with Rs 16,875 crore in the previous quarter and Rs 18,138 crore in the year-ago quarter.

“In PSU banks, in a lot of places, in the next year-year and a half, there could be a chance of a doubler from here. A few of them have already doubled or maybe more than that but still there is a lot of space in the PSU banking universe. That is the trade for the next one year.”

A special court handling CBI cases in the Punjab National Bank (PNB) scam has decided to separate the trial of two accused, Gokulnath Shetty and Hemant Bhatt, due to uncertainties regarding the duration of Nirav Modi's extradition process.

"The caution on high-cost deposits is a part of the review of the asset liability risk management practices followed by banks," a government official said, adding that it was also pointed out that another challenge for public sector banks is to arrest the decline in current and savings account, or CASA, which has come down to 57% in March 2023 from 64.9% in 2018.

Many public sector banks like Punjab National Bank (PNB), Bank of Baroda (BoB) and State Bank of India (SBI) have come up with festive offers giving concession on interest rate in home and car loan. The interest rate for PNB home loan starts from 8.4% and it can be applied online.

The maiden public issue is purely an offer of sale (OFS) by existing shareholders. The OFS size has been reduced to 61.91 lakh equity shares from 1.28 crore equity shares planned earlier.

The penalty was imposed on Punjab National Bank due to several violations, including levying SMS charges on certain accounts despite maintaining invalid mobile numbers in the Core Banking Solution (CBS), not strictly adhering to the interest rates as per the pre-disclosed schedule in several term deposit accounts, and failing to specify the interest reset date in MCLR-linked loans.

ESAF Small Finance Bank IPO: The Rs 463-crore IPO includes a fresh equity issue of Rs 391 crore and an offer for sale (OFS) of Rs 72 crore. Under the OFS, promoter selling shareholder ESAF Financial Holdings will offload stake worth Rs 49 crore and other selling shareholders – PNB MetLife and Bajaj Allianz Life – make up for the remaining OFS portion.

After the country's largest bank, the State Bank of India, another state-run lender, UCO Bank, has come out with a circular asking its branch officials to visit and distribute sweet packets to the top 10 non-performing borrowers. In comparison, in 2018, the Punjab National Bank had the passports of 150 willful defaulters impounded.

Under the OFS, promoter selling shareholder ESAF Financial Holdings will offload stake worth Rs 49 crore and other selling shareholders PNB MetLife and Bajaj Allianz Life make up for the remaining OFS portion.

Emkay Global Financial recommended hold rating on Punjab National Bank with a target price of Rs 78 in its research report dated October 27, 2023.

Motilal Oswal recommended Neutral rating on Punjab National Bank with a target price of Rs 75 in its research report dated October 26, 2023.

Sharekhan is bullish on Punjab National Bank has recommended buy rating on the stock with a target price of Rs 86 in its research report dated October 26, 2023.

Government-owned and established private-sector banks are currently in discussions to grant their employees an approximately 15% salary increase and are considering implementing a five-day workweek. While the Indian Banks' Association proposed the 15% raise, unions are pressing for more significant improvements.

Punjab National Bank mpassbook app will be discontinued from December 1, 2023. The bank has asked customers to use mPassbook available in PNB One App to check details.

Operating profit (before provisions and contingencies) jumped 12% to Rs 6,216 crore in the reporting period against Rs 5,567 crore in the last year period. Provisions during the second quarter fell nearly 30% year-on-year (YoY) to Rs 3,444 crore. The same stood at Rs 4,906 crore in the corresponding quarter of previous year.

As slippages declined during the September quarter, brokerages largely shared a bullish stance on PNB as the asset quality continues to improve

For the year 2023-24, PNB has come up with a vacancy of 500 for management trainee (MT)/ Probationary Officer (PO).

PNB Q2 earnings: The gross non-performing assets of the bank declined to 6.96 percent from 10.48 percent

Net interest income (NII) during the second quarter rose 20% year-on-year to Rs 9,923 crore. It was Rs 8,271 crore in the year-ago period.

"Overall we expect Indian markets to remain volatile on the back of concerns over higher interest rates, ongoing Israel-Hamas war and mixed Q2 results," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

"Overall we expect Indian markets to remain volatile on the back of concerns over higher interest rates, ongoing Israel-Hamas war and mixed Q2 results," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

PNB Housing Finance, a mortgage lender backed by General Atlantic Singapore, aims to maintain a net interest margin just below 4% and reduce the rising cost of funds. The lender expects to access cheaper funds from the National Housing Bank and a potential rating upgrade, which would lower borrowing costs.

The bankers had received two expressions of interest (EOIs) earlier this year but the other joint bid from two individuals did not result in a serious offer, people familiar with the process said. Mark AB's offer includes a small upfront payment, with the remaining payment differed after two years.

Debit card can be replaced for various reasons including when your card is misplaced or stolen, card is damaged. Here is a look at the debit card replacement charges of various banks, as per the websites.

The Indian bankruptcy court has approved the acquisition of steel maker Mittal Corp Ltd by Shyam Metalics and Energy Ltd. The successful bidder, Shyam Sel and Power Ltd, will pay Rs 351 crore, resulting in a 20% recovery for all creditors. The financial creditors' claim of Rs 1,587 crore will receive Rs 348.7 crore. The lenders had previously approved the revival plan with 100% voting in favor of Shyam Sel and Power.

State Bank of India (SBI) and IL&FS have different views on debt restructuring at ITPCL, the bankrupt financier's power joint venture entity. SBI wants an assessment of the liquidation value before signing on the proposal, while IL&FS, as part of its resolution framework, is not obligated to undertake a liquidation assessment for this asset. Last month, lenders approved a restructuring plan for ITPCL, with 59% of its debt classified as sustainable and the remaining 41% converted into non-convertible debentures. ITPCL operates a 1,200-MW power plant in Tamil Nadu.

Public sector banks in India are divided over the debt resolution of Simbhaoli Sugars, with Punjab National Bank and Bank of India supporting a one-time settlement offer, while State Bank of India opposes it. SBI wants the promoters to improve their offer and provide commitments on payment timelines. If the offer is not sweetened, SBI may proceed with an insolvency lawsuit against the company. PNB and Bank of India argue that insolvency should be avoided to maximize proceeds for cane farmers. Simbhaoli Sugars has a debt burden of INR 1,436 crore, including interest and penalties.

The Enforcement Directorate has conducted fresh searches against the promoters and entities of Bhushan Steel Limited as part of a money laundering probe linked to a bank fraud case. The agency alleged that the promoters and entities rotated funds through multiple companies for personal purposes, causing losses to State Bank of India and Punjab National Bank. During the searches, incriminating documents, digital records, cash, foreign currency, and luxury cars were seized.

The Enforcement Directorate (ED) has conducted search and survey operations at 30 locations, including Delhi NCR, Haryana, Kolkata, Mumbai, and Bhubaneswar, against the promoters of Bhushan Steel Limited (BSL) in connection with a bank fraud of Rs 56,000 crore. The investigation revealed that the promoters and directors of BSL formed several shell companies and rotated funds through a chain of multiple entities.

The marginal cost of lending rate (MCLR) is the lowest lending rate. No bank is allowed to make a loan interest rate offer below this. Here is a comparison of lending rates of banks in the month of October 2023.

​​ The city crime branch registered the FIR in 2017 after a woman filed a complaint that she had invested some money through a franchisee of Gitanjali Jewellery here, but the franchisee shut down and she lost her investment. Digvijay Jadeja, owner of the franchisee Divyanirman Jewellers; Choksi in his capacity as managing director of Gitanjali Group, and two directors of Gitanjali Group were named as accused in the case.

As per RBIs revised guidelines on lockers, the revised Locker Agreement is to be executed by all the existing locker holders. The RBI has set December 31, 2023 deadline to execute revised locker agreements, in a staggered manner.

Foreign portfolio investors remained net sellers in the market, as they net sold shares worth Rs 1,005 crore on Tuesday, according to the provisional data. On the contrary, DIIs net bought shares worth Rs 1,963 crore.

Interest credited by the bank on the account balance, as well as any charges deducted by the bank, are not considered as transactions.

Foreign portfolio investors on Monday net sold shares worth Rs 998 crore, according to the provisional data. On the contrary, DIIs net bought shares worth Rs 2,661 crore.

The Indian government has approved the appointment of 12 general managers as executive directors of various public sector banks. The appointments were made by the Appointments Committee of the Cabinet. The newly appointed executive directors will be joining banks such as Union Bank of India, UCO Bank, Canara Bank, Punjab National Bank, Punjab & Sind Bank, Bank of India, Indian Bank, Bank of Baroda, Central Bank of India, and Indian Overseas Bank.

Here is a comparison of fixed deposit interest rates of 2-3 year tenures of leading banks such as SBI, HDFC Bank, ICICI Bank, PNB, and Canara Bank.

There weren’t any surprises in the Governors’ statement. Sometimes no news is good news, which is why markets have reacted with a slightly positive bias, says Apurva Sheth, Head of Market Perspectives & Research at SAMCO Securities.

Indian equities saw a relief rally on Thursday following its global peers and healthy domestic service PMI data, Siddhartha Khemka, Head - Retail Research at Motilal Oswal Financial Services said. Markets saw a recovery after two days of fall amid stability in global indices following ease in US Bond yields and a fall in crude oil prices from their recent highs, Khemka said.

The net short position of FIIs decreased from Rs 92,228 crore on Wednesday to Rs 88,311 crore on Thursday.

The net short position of FIIs decreased from Rs 92,228 crore on Wednesday to Rs 88,311 crore on Thursday.

Morgan Stanley maintained an underweight rating on L&T Finance with a target price of Rs 110. The retail loan book continued to scale in Q2, and the disbursements remained robust. Retailization of loan book and retail loan book growth continues to be on track.

Punjab National Bank reported an 11.3 percent year-on-year (YoY) growth in total business

Over 29 stocks surged into overbought territory on October 3, Tuesday. ETMarkets has identified 10 stocks that you should watch closely. This article explores the importance of RSI in stock assessment and why it matters for investors.

The Tata Group is reportedly considering whether to bid for UTI Asset Management Company, following the entry of Jio Financial Services into the market. The salt-to-software conglomerate is closely monitoring Jio's future plans and their impact on the industry. Four state-owned entities collectively own just over 45% stake in UTI AMC and are exploring options to sell their stake. Earlier talks between the Tata Group and the public sector entities fell through due to a disagreement regarding the selling process. Jio Financial Services has attracted attention due to its appointment of KV Kamath to head its financial services business.

The Tata Group is reportedly considering whether to bid for UTI Asset Management Company, following the entry of Jio Financial Services into the market. The salt-to-software conglomerate is closely monitoring Jio's future plans and their impact on the industry. Four state-owned entities collectively own just over 45% stake in UTI AMC and are exploring options to sell their stake. Earlier talks between the Tata Group and the public sector entities fell through due to a disagreement regarding the selling process. Jio Financial Services has attracted attention due to its appointment of KV Kamath to head its financial services business.

The bank has been mandated to recover the rent and any other cost incurred by it and debit the customer account.

Discover 11 stocks teetering on the edge of overbought territory with declining RSI. ETMarkets delves into the significance of RSI in stock analysis and the potential risks these stocks may face.

​We are in discussion with other financial institutions because the asset size is going to be quite large, more than Rs 30,000-40,000 crore, then we need to collaborate with other financial institutions. As you are aware that our loan book has grown in last financial year to the extent of 13%, but in the current financial year in Q1 there was growth of about 20%.

Technically, the stock's day RSI (14) is at 65.7. The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. MACD is at 11, which is above its center and signal Line, this is a bullish indicator. Shares of REC are trading higher than the 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages.

Punjab National Bank (PNB) has entered into a Memorandum of Understanding (MoU) with REC to jointly explore the possibility to fund the Power Sector and Infrastructure & Logistics Sector.

Canara Bank raised ₹5,000 crore through the issuance of 10-year infrastructure bonds at a coupon rate of 7.54%, sources said. The state-owned lender had announced a bond sale with a base size of ₹1,000 crore and a greenshoe of ₹4,000 crore.

"REC Limited signed an MoU with Punjab National Bank (PNB) on Tuesday to jointly explore the possibility to fund the Power Sector and Infrastructure and Logistics Sector projects under the consortium arrangement. REC and PNB will associate with each other to co-finance loans amounting to Rs 55,000 crore over the next three years," the statement said.

On September 25, Monday, StockEdge identified 20 stocks that were in the overbought zone but exhibited bearish or declining Relative Strength Index (RSI) trends. ETMarkets has selected 10 of these stocks for a closer look.

Before we dive into the stocks, let's grasp the concept of RSI. The Relative Strength Index is a momentum oscillator that measures the speed and change of a stock's price movements. RSI values range from 0 to 100, with readings above 70 typically indicating that a stock is overbought, while readings below 30 suggest that it may be oversold.

The lenders of Jet Airways on Friday claimed receiving no money from the Jalan Kalrock Consortium. It also said that the insolvency resolution plan is yet to be implemented. The matter has been scheduled for hearing on October 3, 2023.

The decision is the latest sign of Indias growing appeal to international investors as the countrys economic growth outstrips peers, its geopolitical influence grows and global companies including Apple Inc. look for alternatives to China.

The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

The Bombay High Court has dismissed businessman Mehul Choksi's petitions challenging the Enforcement Directorate's application to declare him a fugitive economic offender. Choksi is accused in the Punjab National Bank fraud case. The court found no flaws in the ED's application and stated that all requirements under the Fugitive Economic Offenders Act were complied with. Choksi had claimed procedural lapses in the application, but the court noted that the ED had followed the proper format. In January 2020, the High Court had granted a stay on the final order, which has now been vacated.

Discover why the Relative Strength Index (RSI) is a crucial tool for assessing stock movements and how it can help you make informed investment decisions. We explore 10 stocks in the overbought zone with declining RSI trends and shed light on their potential implications.

The net long position of foreign portfolio investors decreased from Rs 62,030 crore on Friday to Rs 58,995 crore on Monday.

Titan Company has hit a fresh high while PNB and Asahi Glass have shown strong breakouts. Vidnyan Sawant of GEPL Capital sees the stocks rising further but advises maintaining a stop-loss.

Tanzania-based METL was declared the preferred bidder by lenders led by Union Bank of India (UBI) in March 2020. Its offer of ₹245 crore for the ₹604 crore debt of the company meant a recovery of 40% for lenders. However, various litigations by the promoters, state government and tax departments have delayed the case beyond the IBC timeline.

In a notable turn of events, several Public Sector Undertaking (PSU) bank stocks surged to new heights on September 18, achieving 52-week highs

Sharekhan is bullish on Punjab National Bank has recommended buy rating on the stock with a target price of Rs 86 in its research report dated September 14, 2023.