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PNB recorded a net profit of Rs 308 crore in the April-June period, the first quarter after the amalgamation exercise. Punjab National Bank (PNB) sees about 5-6% of its loan book (about Rs 36,000-43,000 crore) getting recast in FY21 under the central bank’s one-time asset restructuring window to soften the Covid-19 blow to borrowers, its … Read more

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