In April, Axis Bank and Max Financial Services (MFS) had announced the signing of definitive agreements to become joint venture partners in Max Life Insurance. Axis Bank, the country’s third-largest private sector lender, on Monday announced that it would acquire 17% stake in Max Life, instead of 29%, which the bank had decided in April. … Read more
PNB has a strength of 1.03 lakh employees and as the business grows, the employee strength will further grow. Punjab National Bank’s MD and CEO, S. S. Mallikarjuna Rao today said that there will be no retrenchment of employees following the merger of the Oriental Bank of Commerce and Union Bank of India with PNB. … Read more
The corporate loans will be restructured based on the recommendations of the K V Kamath committee. The country’s second largest lender Punjab National Bank on Monday said it expects to restructure loans worth about Rs 40,000 crore as per RBI-approved guidelines, scheduled to be out soon. The Reserve Bank of India (RBI) had earlier this month … Read more
Earlier in June, PNB had revised its loan growth target to 6 per cent for the current fiscal due to the COVID-19 crisis. Punjab National Bank (PNB) on Monday said its overall credit growth is likely to be at around 4-6 per cent in the current fiscal year as it expects the economy to return … Read more