Punjab & Sind Bank (PSB)

New Credit Assessment Model Proposed for MSMEs - 24 Jul, 2024

Finance Minister Nirmala Sitharaman has proposed a new credit assessment model for Micro, Small and Medium Enterprises (MSMEs) that requires public sector banks to assess credit eligibility themselves. This move is expected to benefit Punjab & Sind Bank as it will enable them to develop or get developed a new credit assessment model based on the scoring of digital footprints of MSMEs in the economy.

Government May Take Clear Stance on Disinvestment of Public Sector Banks - 23 Jul, 2024

SBI Research's pre-budget report suggests the government may take a clear stance on disinvestment of public sector banks. A recent CareEdge Ratings report estimates a significant disinvestment potential of around Rs 11.5 trillion, with public sector enterprises contributing up to Rs 5 trillion and public sector banks and insurance firms having the potential to add another Rs 6.5 trillion.

Punjab & Sind Bank Stock Rises for Third Straight Session - 18 Jul, 2024

Punjab & Sind Bank stock rose by 4.72% to Rs 66.77 on the NSE, up 100.21% in the last year compared to a gain of 24.24% in NIFTY and 64.1% in Nifty PSU Bank index. The volume stood at 152.5 lakh shares today, with a PE ratio of 72.49 based on TTM earnings ending March 24.

Calls for Reprivatization of Public Sector Banks in India - 17 Jul, 2024

An article discusses the need to reprivatize public sector banks (PSBs) in India, citing their improved balance sheet health and successful implementation of financial inclusion initiatives. The author argues that reprivatizing PSBs would level the playing field in India's banking sector, raise their margins and valuation ratios, and stabilize government finances through substantial divestment proceeds.

Govt Plans Banking Reforms; PSBs' Credit Card Receivables See Growth - 12 Jul, 2024

The government plans to introduce amendments for banking sector reforms, including privatisation of PSBs. Meanwhile, PSBs' credit card receivables have seen a significant YoY growth of 146.5%, but the GNPA ratio stands at 13.3% as of September 2023.

Punjab & Sind Bank Plans Expansion with New Branches and ATMs - 07 Jul, 2024

State-owned Punjab & Sind Bank is set to expand its reach by opening 100 new branches and adding 100 ATMs across India this fiscal year. The bank also plans to raise Rs 2,000 crore via QIP to support business growth.

Punjab & Sind Bank Revises Fixed Deposit Rates; UCO Denies Merger Rumors - 01 Jul, 2024

Punjab & Sind Bank has revised its fixed deposit interest rates, offering up to 7.8% for senior citizens. Meanwhile, UCO Bank has denied any knowledge or involvement in a rumored merger involving Punjab & Sind Bank, Central Bank, and Bank of Maharashtra.

Punjab & Sind Bank Plans to Raise Funds for Business Growth - 30 Jun, 2024

Punjab & Sind Bank is planning to raise Rs 2,000 crore through a Qualified Institutional Placement (QIP) in the second half of FY24 to fund business growth. The QIP will help improve the bank's Capital Adequacy Ratio and bring down the government's holding in the bank.

State-owned and foreign banks' trading portfolios show increased interest rate sensitivity - 29 Jun, 2024

A major trading portfolio for state-owned public sector banks and foreign banks showed an increase in interest rate sensitivity from September 2023 to March this year, indicating greater exposure to the impact of bond yield volatility on profits and capital. No specific mention of Punjab & Sind Bank.

Punjab & Sind Bank Falls for Fifth Straight Session - 27 Jun, 2024

Punjab & Sind Bank's stock has fallen for five consecutive sessions and is currently quoting at Rs 58.74, down 1.16% on the NSE. The bank has eased around 4.41% in the last month.

Punjab & Sind Bank Signs MoU with Indian Army for Defence Salary Package - 26 Jun, 2024

State-owned Punjab & Sind Bank has signed an initial agreement with the Indian Army to provide a host of facilities, including free insurance cover. The bank's shares have gained 40% so far this year, making it one of the top performers in the Nifty PSU Bank index.

Punjab & Sind Bank Signs MoU with Indian Army; Plans QIPs in H2 FY25 - 25 Jun, 2024

Punjab & Sind Bank has signed an MoU with the Indian Army for a defence salary package and plans to reduce the central government's stake through QIPs in H2 FY25.