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PNB

RBI imposes penalty on Federal Bank, PNB

Federal Bank was penalised as it issued some demand drafts, each for a value of rupees fifty thousand and above, without incorporating the name of the purchaser on the face of it.

PSBs continue with 180 days to resolve Jet

Official sources in the Finance Ministry said that banks have informed the ministry that they were not ready to wait endlessly to restore health of the beleaguered airline and if attempts to bring in a strategic investor fails or is not completed by June 30, lenders may immediately initiate bankruptcy proceedings against Jet.

Centre dismisses two PNB Executive Directors

The Central government has removed two Punjab National Bank (PNB) Executive Directors – Sanjiv Sharan and K Veera Brahmaji Rao – for the lapses in the Rs 13,500 crore fraud allegedly perpetrated by absconding diamantaire Nirav Modi.

PNB Housing Finance raises USD 200 mn via ECB

This year, the Reserve Bank of India has allowed housing finance companies to borrow through ECB up to USD 750 million annually under the automatic route, the company said in a statement.