PPNB

PNB MD & CEO CH SS Mallikarjuna Rao’s view on RBI’s Monetary Policy

PNB MD & CEO CH SS Mallikarjuna Rao’s view on RBI’s Monetary Policy

The RBI has rightly prioritized growth over inflation to rejuvenate economic growth on a durable basis and mitigate the extraordinary impact of Covid 19. The decision of keeping the repo rate unchanged along with maintenance of accommodative stance is on expected lines as low interest rates are critical to economic revival. Additional liquidity measures through extension of deadline of On tap TLTRO scheme till December 31, 2020 will have positive implications for stressed sectors like retail, MSME and real estate. Amendment of guidelines related to export credit in foreign currency and restructuring of Derivative contracts is a much needed move…
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Punjab National Bank posts a standalone profit of Rs 586 crore in Q4

Punjab National Bank posts a standalone profit of Rs 586 crore in Q4

Punjab National Bank posted a standalone profit of Rs 586.33 crore for the fourth quarter ended March. Interest earned during the quarter raise 36 percent to Rs 18,789.53 crore from Rs 13,858.98 crore earlier. The second-largest PSU lender had reported a loss of Rs 697.20 crore in the January-March period of 2019-20. The financial numbers are not strictly comparable as Oriental Bank of Commerce and United Bank of India were merged with PNB effective April 1, 2020, the bank said. The PSU bank’s domestic net interest margin fell to 2.16 per cent in the fourth quarter of 2020-21 against 3.18…
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