PUNJAB NATIONAL BANK

psbs-remain-government-captives

PSBs remain government captives

Structural problems of the PSBs, most of them imposed by the government and its system of political governance, has incrementally increased the government shares in 12 PSBs even as it has been seen trying really hard to offload its shares.
For instance, the huge recap infusion of Rs2.6-lakh crore into the PSBs over the past three years - to offset their bad loans - has sharply accelerated government holdings in these banks which could, in turn, limit the size of future capital infusion in certain banks. Of the 12 PSBs, the government holds 92-96 percent in four of them and 83-89 percent in five banks.
Of course, the government would like to offload its shares in PSBs. But the problem is there are very few takers for shares of PSBs despite cheap valuations of 0.4-0.6 times book. The only way investors' appetite in the shares of PSBs can be whetted up is by way of withdrawing the government's socialist hands from the functioning of these banks and driving them towards following the best global banking practices.
Once this transition takes place, investors would be glad to chase PSBs shares and enable the government to recover its cost plus profit. 

16 Sep 2020
banks-hiring-in-the-time-of-economic-slowdown!

Banks hiring in the time of economic slowdown!

If there is bad news about Indian economy slowing down, there is something to cheer about too as banks have not reduced hiring rather hiring more. Banks backed by technology are expanding the branch network resultantly adding more to the workforce.
There have been reports from many banks including Axis Bank, Federal Bank and many more that they are hiring more and more people. They have hired six times more of employees this financial year as compared to the last year. Going forward, some of the banks are expanding their branch network; therefore, they will need more people at different levels, with specific skill sets. They are investing in workforce backed with technology including use of artificial intelligence to identify the right candidate.

18 Nov 2019
psbs-remain-government-captives

PSBs remain government captives

By IndianMandarins 16 Sep 2020

Structural problems of the PSBs, most of them imposed by the government and its system of political governance, has incrementally increased the government shares in 12 PSBs even as it has been seen trying really hard to offload its shares.
For instance, the huge recap infusion of Rs2.6-lakh crore into the PSBs over the past three years - to offset their bad loans - has sharply accelerated government holdings in these banks which could, in turn, limit the size of future capital infusion in certain banks. Of the 12 PSBs, the government holds 92-96 percent in four of them and 83-89 percent in five banks.
Of course, the government would like to offload its shares in PSBs. But the problem is there are very few takers for shares of PSBs despite cheap valuations of 0.4-0.6 times book. The only way investors' appetite in the shares of PSBs can be whetted up is by way of withdrawing the government's socialist hands from the functioning of these banks and driving them towards following the best global banking practices.
Once this transition takes place, investors would be glad to chase PSBs shares and enable the government to recover its cost plus profit. 

banks-hiring-in-the-time-of-economic-slowdown!

Banks hiring in the time of economic slowdown!

By IndianMandarins 18 Nov 2019

If there is bad news about Indian economy slowing down, there is something to cheer about too as banks have not reduced hiring rather hiring more. Banks backed by technology are expanding the branch network resultantly adding more to the workforce.
There have been reports from many banks including Axis Bank, Federal Bank and many more that they are hiring more and more people. They have hired six times more of employees this financial year as compared to the last year. Going forward, some of the banks are expanding their branch network; therefore, they will need more people at different levels, with specific skill sets. They are investing in workforce backed with technology including use of artificial intelligence to identify the right candidate.

rao-appointed-md-&-ceo,-pnb

Rao appointed MD & CEO, PNB

By IndianMandarins 02 Oct 2019

Ch S S Mallikarjuna Rao was on Tuesday appointed as MD & CEO of Punjab National Bank (PNB) till his retirement i.e. 18.09.2021. Presently, Rao works as MD & CEO of Allahabad Bank.

sekar-is-md-&-ceo,-iob;-others-appointed-osd-and-ed-in-psbs

Sekar is MD & CEO, IOB; others appointed OSD and ED in PSBs

By IndianMandarins 10 Apr 2019

The NaMo administration on Tuesday announced the appointment of Karnam Sekar  appointed MD & CEO of Indian Overseas Bank ( w.e.f. 01 July 2019) till his retirement on 30 June 2020. Presently, Karnam is MD & CEO of Dena Bank. He is considered OSD and Whole-time Director in IOB beginning 01 April 2019. Further, R A Sankara Narayan (MD & CEO, Vijaya Bank) was appointed to the post of MD & CEO in Canara Bank till his retirement  on 31 January 2021.

 

In addition, appointments of OSDs and EDs were also cleared in various public-sector banks. Accordingly;

  • Dr Rajesh Kumar Yaduvanshi (ED, Dena Bank) appointed Executive Director in Punjab National Bank for a period ending 01 April 2020. He will retire in June 2021.
  • Nageswara Rao Y (ED, Vijaya Bank) appointed OSD and Whole-time Director in Syndicate Bank till his retirement in January 2021.
  • Murali Ramaswami (ED, Vijaya Bank) appointed Executive Director in Bank of Baroda w.e.f 01 October 2019 till his retirement on 31 December 2020. He would function as OSD till 30 September 2019.

centre’s-msme-outreach-programme-hits-the-turf-today

Centre’s MSME outreach programme hits the turf today

By IndianMandarins 02 Nov 2018

Union government will launch a massive outreach programme to MSME clusters across the country. Bank officials will be stationed in these locations to provide loans to MSMEs, through the government’s newly launched web portal, www.psbloansin59minutes.com. Loans in the range of Rs 1-10 million will be sanctioned within 59 minutes through this portal.

 

The portal is for securing loan approvals from Small Industries Development Bank of India, and five public sector banks (PSBs) — State Bank of India (SBI), Bank of Baroda, Punjab National Bank, Vijaya Bank, and Indian Bank.

 

On the first day, banks are likely to sanction 300 proposals to potential MSME borrowers in less than one hour through the web portal, sources said.

 

Modi will interact with MSMEs from five select districts through video conferencing and with four-five corporates registered on the Trade Receivables Electronic Discounting System (TReDS) platform, which facilitates the financing of trade receivables of MSMEs through multiple financiers. The Prime Minister will also address hundreds of MSMEs and bank executives present at Vigyan Bhawan in Delhi.

md&ceo-of-a-psb-could-be-removed

MD&CEO of a PSB could be removed

By IndianMandarins 12 Aug 2018

Indianmandarins has reliably learnt that Ms Usha Ananthasubramanian, former Allahabad Bank MD and CEO, could be removed from service w.e.f August 13.

The Finance Ministry had, in May 2018, asked the boards of PNB & Allahabad Bank to initiate stringent action against two EDs and Ms Ananthasubramanian respectively. Following the directive the ministry she divested of all powers in May. She was the CMD of PNB till May 2017.

md&ceo-of-a-psb-could-be-removed

MD&CEO of a PSB could be removed

By IndianMandarins 12 Aug 2018

Indianmandarins has reliably learnt that Ms Usha Ananthasubramanian, former Allahabad Bank MD and CEO, could be removed from service w.e.f August 13.

The Finance Ministry had, in May 2018, asked the boards of PNB & Allahabad Bank to initiate stringent action against two EDs and Ms Ananthasubramanian respectively. Following the directive the ministry she divested of all powers in May. She was the CMD of PNB till May 2017.

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