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
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
RPG Enterprises Chairperson Harsh Goenka on Tuesday said the NCLT should be the next institution to be cleansed by the government to prevent “hard earned public money being stolen” as companies’ promoters stash away money on the side and get “80-90% haircut” from bankers during the insolvency resolution process. In an apparent reference to recent … Read more
Banks are likely to transfer about 80 large NPA accounts for the resolution to National Asset Reconstruction Company Ltd (NARCL), which is expected to be operational by next month. NARCL is the name coined for the bad bank announced in the Budget 2021-22. A bad bank refers to a financial institution that takes over the … Read more
Public sector lender Punjab National Bank on Wednesday said it has incorporated a wholly-owned subsidiary, PNB Cards & Services Limited, which will deal with the banks’ non-financial support services related to its credit card business. “The exchange is hereby informed that a wholly-owned subsidiary of the bank namely PNB Cards & Services Limited has been … Read more