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SBI vs PNB vs Central Bank: 1-year FD; What will be the maturity amount on Rs 7 lakh investment for general and senior citizens

SBI vs PNB vs Central Bank: 1-year FD; What will be the maturity amount on Rs 7 lakh investment for general and senior citizens

Wed, Nov 06, 2024

Compare 1 year fixed deposit (FD) of State Bank of India (SBI), Punjab National Bank (PNB), and Central Bank to find out what will be the maturity amount on Rs 7 lakh investment for general and senior citizens.

Best 3-year FD for senior citizens: SBI vs PNB vs HDFC Bank; which FD will give highest return on Rs 5 lakh investment

Best 3-year FD for senior citizens: SBI vs PNB vs HDFC Bank; which FD will give highest return on Rs 5 lakh investment

Thu, Oct 31, 2024

Senior Citizen FD is a term deposit plan for individuals aged 60 and above. Here, we will compare the fixed deposits (FD) of 3 banks: State Bank of India (SBI), Punjab National Bank (PNB), and HDFC Bank to find out which FD will give the highest return to senior citizens on a Rs 5 lakh investment in the respective 3-year FDs.

HDFC Standard Life buys PNB Housing Finance shares worth Rs 90 crore

HDFC Standard Life buys PNB Housing Finance shares worth Rs 90 crore

Tue, Oct 29, 2024

According to the block deal data available on the BSE, HDFC Standard Life Insurance Company Ltd purchased a little over 10 lakh shares or 0.4 per cent stake in PNB Housing Finance.

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PNB scam: RBI declines to share copies of inspection reports

PNB scam: RBI declines to share copies of inspection reports

Sun, May 13, 2018

Replying to an RTI query, RBI also said it does not have "specific information" on what resulted in detection of over Rs 13,000 crore scam at PNB and directed the application to the state-run bank for providing those details

PNB aims to grow biz by around 11% in current fiscal

PNB aims to grow biz by around 11% in current fiscal

Sun, May 06, 2018

The board of PNB in a meeting held last Saturday, deliberated on the future roadmap for the bank and implementation of the finance ministry's Enhanced Access & Service Excellence (EASE), PNB CEO Sunil Mehta told PTI. "The bank will aim at growing by 10.8 per cent year-on-year to aim at total business of Rs 12 lakh crore in FY '19

PNB fraud: ED refuses to share details of Nirav, Mehul's seized assets

PNB fraud: ED refuses to share details of Nirav, Mehul's seized assets

Sun, May 06, 2018

However, Enforcement Directorate had earlier made public on Twitter that assets worth Rs 7,664 crore had been attached in connection with the cases involving the uncle-nephew duo of Modi and Choksi. The central agency has also refused to disclose expenses incurred on attempts to bring back the two billionaire diamantaires who had fled the country in the first week of January, days before the PNB approached the CBI reporting the biggest scam in the banking industry in India

These wilful defaulters owe PNB Rs 15,172 crore

These wilful defaulters owe PNB Rs 15,172 crore

Sun, May 06, 2018

PNB wilful defaulters: The liability on such defaulters rose by 1.8 per cent from Rs 14,904.65 crore in February. The public sector lender has been putting out the names of wilful defaulters and firms since June 2017. Within ten months, these defaults have grown by 28 per cent , from Rs 11,879.74 crore

Big wilful defaulters owe PNB Rs 15,172 crore

Big wilful defaulters owe PNB Rs 15,172 crore

Sun, May 06, 2018

The data from the bank relates to those wilful defaulters who have taken loans of Rs 25 lakh and above but did not repay despite the ability to do so.

Bharti Airtel to sell stake in Indus Towers; deal to close before next March-end

Bharti Airtel to sell stake in Indus Towers; deal to close before next March-end

Thu, Apr 26, 2018

Telecom major Bharti Airtel on Wednesday said it will hold talks with potential investors for a strategic sale in the merged telecom tower entity Indus Towers. The proposed move comes after Airtel earlier announced the merger of its tower arm Bharti Infratel with Indus Towers.

You won't believe what Punjab National Bank has done to get its money back!

You won't believe what Punjab National Bank has done to get its money back!

Wed, Apr 25, 2018

In its efforts to recover NPAs, the PNB has also resorted to 'Gandhigiri' wherein its staff hope to 'name and shame' defaulting borrowers to recover up to Rs 150 crore worth bad loans every month. The Delhi-headquartered bank has been at the receiving end of the over Rs 13,000 crore fraud involving diamond merchants Nirav Modi and Mehul Choksi

Fugitive Economic Offenders Ordinance 2018: From Vijay Mallya, Nirav Modi to Jatin Mehta, check out the top 5

Fugitive Economic Offenders Ordinance 2018: From Vijay Mallya, Nirav Modi to Jatin Mehta, check out the top 5

Mon, Apr 23, 2018

In a bid to deter economic offenders from evading the law of the country, the Union Cabinet on Saturday approved a proposal to promulgate the Fugitive Economic Offenders Ordinance 2018.

PNB scam: Govt intervenes in Nirav Modi firms' bankruptcy case in US

PNB scam: Govt intervenes in Nirav Modi firms' bankruptcy case in US

Sun, Apr 22, 2018

Diamond merchants Nirav Modi and his uncle Mehul Choksi are alleged to have perpetrated the country's biggest banking sector scam at Punjab National Bank, mainly by way of issuance of fraudulent Letters of Undertaking ( LoUs ). Against the backdrop of multi-agency probe into the case, Chaudhary said that some Nirav Modi firms filing for bankruptcy in the US would jeopardise the interests of Punjab National Bank

Nirav Modi fraud: PNB move Hong Kong court; plans legal action in others countries

Nirav Modi fraud: PNB move Hong Kong court; plans legal action in others countries

Sun, Apr 22, 2018

PNB plans to approach other jurisdictions where Nirav Modi and his associates have assets and properties as part of recovery process, a senior PNB official said. Hong Kong authorities have been approached and recovery writ has been filed against companies of Nirav Modi, the official said without disclosing other details.

PNB scam, fiscal slippage dent business optimism in June quarter: Report

PNB scam, fiscal slippage dent business optimism in June quarter: Report

Mon, Apr 16, 2018

The optimism was rising in the September quarter of last year and hit a peak of 91 per cent for the first quarter of 2018, information services company Dun and Bradstreet said in the report, adding it has slipped by 6.6 per cent to 85 per cent for the second quarter of the calendar year. The report said the survey of companies was conducted in March, when the bank fraud cases had already erupted on the scene and added that the frauds and scams came at an "inopportune" time when the state-run lenders were already fighting the non-performing asset (NPA) menace

Nirav Modi scam: ICAI sends notices to auditors of PNB's Brady House branch

Nirav Modi scam: ICAI sends notices to auditors of PNB's Brady House branch

Sun, Apr 15, 2018

The Institute of Chartered Accountants of India (ICAI) has made a list of the statutory auditors of the Brady House branch during 2011-12 to 2016-17, and asked them to appear before its Board of Discipline. Statutory auditors are members of ICAI and are governed by the apex body. Eight statutory auditors, who had audited the lender's Brady House branch in Mumbai during that period, have been issued notices

NPAs in Q4 to rise by Rs 8,000 cr on account of Gitanjali Gems

NPAs in Q4 to rise by Rs 8,000 cr on account of Gitanjali Gems

Sun, Apr 15, 2018

Banks will have to make provisioning of Rs 8,000 crore for Gitanjali alone as there has been no servicing of the working capital loan during the fourth quarter of last fiscal, sources said. Gitanjali, among others, is the major account which has turned bad in the fourth quarter of 2017-18

Monnet Ispat lenders may take 64 pct haircut

Monnet Ispat lenders may take 64 pct haircut

Wed, Apr 11, 2018

All formalities relating to the resolution has to be completed by the deadline of April 13. According to a source in the know, the deal is likely to be around Rs 3,750 crore, of which close to Rs 2,750 crore could be in cash and remaining could be in equity.

PNB fraud case: Scam-hit bank refused CVC's advice against its corrupt staff

PNB fraud case: Scam-hit bank refused CVC's advice against its corrupt staff

Tue, Apr 10, 2018

PNB fraud case: The non-compliance of the advice has been mentioned in the CVC's annual report for 2017 tabled in Parliament recently. The report comes at a time when the bank is facing multiple agency probe in the over Rs 13,000 crore loan fraud allegedly committed by billionaire jeweller Nirav Modi and his uncle, Mehul Choksi, the promoter of Gitanjali Gems

PNB, Nirav Modi fraud case: Will not seek govt support, says bank's MD Sunil Mehta

PNB, Nirav Modi fraud case: Will not seek govt support, says bank's MD Sunil Mehta

Mon, Apr 09, 2018

PNB has enough resources and capability to meet the challenges posed by the fraud of this nature, its managing director Sunil Mehta said. "We said this is problem of the bank and we will solve it ourself . We are not seeking government's help by way of capitalisation ," he said, when asked if the bank has sought help from the majority shareholder to tide over the problem of fraud

CBI court issues warrants against Nirav Modi, Mehul Choksi in PNB fraud case

CBI court issues warrants against Nirav Modi, Mehul Choksi in PNB fraud case

Sun, Apr 08, 2018

The CBI is now also questioning some officials at overseas branches of Indian banks which issued loans to companies owned by the two jewellers against bank guarantees - later shown to have been fraudulently issued by certain rogue employees at PNB. The case, dubbed India`s largest ever bank fraud, has led to a huge probe and 20 arrests have been made so far in relation to the matter

PNB fraud case: Bank hires lawyers to represent itself in bankruptcy proceedings of Nirav Modi firm in US

PNB fraud case: Bank hires lawyers to represent itself in bankruptcy proceedings of Nirav Modi firm in US

Sun, Apr 08, 2018

Firestar Diamond approached a bankruptcy court in New York court in February. "We have just engaged lawyers to represent our bank in the US bankruptcy petition as part of recovery process. If money has gone from our system and parked in that company, our bank's views should be heard before deciding about insolvency petition," PNB Managing Director Sunil Mehta told PTI in an interview.

PSBs privatisation: Here is what Nobel laureate Muhammad Yunus has to say

PSBs privatisation: Here is what Nobel laureate Muhammad Yunus has to say

Sun, Apr 08, 2018

PSBs privatisation: Several experts, including Chief Economic Advisor Arvind Subramanian and former Niti Aayog Vice Chairman Arvind Panagariya, had pitched for privatisation of PSBs after spate of frauds were unearthed in state-owned banks, including over Rs 13,000 crore scam in the Punjab National Bank (PNB). The Bangladesh-based champion of micro-finance Muhammad Yunus also said that ways have to be found to stop frauds in the banking sector

SBI, PNB put 15 NPAs of Rs 1,063 crore on sale

SBI, PNB put 15 NPAs of Rs 1,063 crore on sale

Sun, Apr 08, 2018

SBI and PNB said they will conduct the e-auction on 20th of this month. SBI has put up a total of 12 accounts with total outstanding of Rs 848.54 crore for sale. "...We place these accounts for sale to asset reconstruction companies (ARCs)/banks/NBFCs/financial intuitions," said SBI, the country's largest bank

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