Rakesh Jhunjhunwala picks 1.59% in Canara Bank

This is for all the investors who love following the share picks of the veterans. As per the shareholding pattern filed on August 24 by Canara Bank, the Big Bull picked up a 1.59% stake in the bank that is currently valued at Rs 402 crore. The current market price for ready reference is Rs … Read more

SBI, Axis Bank, ICICI Bank, others buy stakes in fintech firm IBBIC

Six banks – State Bank of India, Axis Bank, Indian Bank, Yes Bank, IDBI Bank, and ICICI Bank – on Tuesday said they have bought equity stakes in financial technology platform IBBIC. SBI, Axis Bank, Indian Bank, Yes Bank and IDBI Bank picked up 5.55 per cent stake each, representing 50,000 shares in IBBIC, for … Read more

Reduction in NPAs for PSBs due to write-offs at Rs 1,31,894 crore in FY21: RTI

MUMBAI: Reduction in non-performing assets (NPAs) due to write-offs for public sector banks (PSBs) stood at Rs 1,31,894 crore during fiscal 2020-21, according to an RTI response. The RTI query was filed by Nagpur-based Sanjay Thul seeking information on non-performing assets (NPAs) of state-run banks and bad loans write-off by PSBs in the last ten … Read more

PNB raises ₹1,800 cr via QIP; offers shares at 33.75 per unit

Punjab National Bank has raised ₹1,800 crore by selling 53 crore shares on a private placement basis to investors like LIC and Societe Generale, the public sector bank said on Saturday. Eligible Qualified Institutional Buyers (QIBs) were given the share at an issue price of ₹33.75 per unit aggregating to ₹1,799.99 crore, PNB said in … Read more

Bank credit grows by 5.93%, deposits by 11.06%

Bank credit grew 5.93 per cent to Rs 107.05 lakh crore, while deposits rose 11.06 per cent to Rs 147.98 lakh crore in the fortnight ended January 29, RBI data showed. In the fortnight ended January 31, 2020, bank credit stood at Rs 101.05 lakh crore and deposits at Rs 133.24 lakh crore. In the … Read more

PNB receives loan rejig requests of only Rs 12,000 crore, says PNB MD

Punjab National Bank, the second-largest public sector lender, has received loan restructuring requests worth Rs 12,000 crore out of the 40,000 crore it had anticipated on account of stress due to the Covid-19 pandemic on businesses and individuals, the bank’s Managing Director Mallikarjuna Rao said. Out of the total restructuring requests, restructuring sought for corporate … Read more

China halts Jack Ma’s $37 billion Ant Group IPO in Shangai, Hong Kong

Ant said that its listing had been suspended by Shanghai following a recent interview regulators held with its founder Jack Ma and top executives. Ant Group’s $37 billion stock market listing has been suspended in both Shanghai and Hong Kong in a dramatic move just two days before what was set to be the world’s … Read more