Mega merger of state-run banks comes into force from April 1: RBI

The government on March 4 had notified the amalgamation schemes for 10 state owned banks into four as part of its consolidation plan

PNB stock falls after bonds put on rating watch

There has been significant progress on the amalgamation including approvals from the Boards of the banks.

Reserve Bank had separate departments for supervisory, regulatory functions which were integrated into two unified departments.

PMC Bank came under stress due to alleged financial irregularities forcing the RBI to impose restriction on it.

Nirav Modi has been long fighting in the PNB scam, where he swindled away Rs 11,000 crore from Punjab National Bank.

The board shall consider capital infusion up to Rs 18,000 crore in its meeting scheduled on September 5, 2019, PNB said.

Buyers have filed eight FIRs with the Cubbon Park police station against the builder and PNBHFL.

A penalty of Rs 50 lakh was imposed by the RBI on the bank.

Sequentially, the bank had suffered a huge loss of Rs 4,750 crore in the fourth quarter of the preceding fiscal ended March 2019.

Total income rose to Rs 15,161.74 crore during the June quarter of 2019-20, as against Rs 15,072.41 crore.