PNB opens centralised loan processing centre

PNB has announced opening of second centralised loan processing centre, in a Mumbai branch. The centre aims to strengthen the bank’s internal systems and processes. Under this, the bank will focus on profit maximisation, improvement of asset quality & recovery, and increasing productivity among others. PNB’s first CLPC is located at Connaught Place branch in New Delhi.

Punjab orders mandatory dope test

Punjab CM Captain Amarinder Singh has ordered a mandatory dope test for all government employees, including police personnel, from the time of their recruitment through every stage of their service. Drug screening will be mandatory in cases of promotions, and also be a part of annual medical examinations. The state’s Chief Secretary has been asked to issue an order.

Interpol issues Red Notice against Nirav Modi

The Interpol has issued a Red Notice against Nirav Modi on the request of the Enforcement Directorate and the CBI of India. Red Notice not only restricts a fugitive’s movement in 190 member countries of the Interpol but also empowers agencies to detain the person for deportation or extradition to the requesting country. Mr. Modi is involved in the ` 13,578-crore Punjab National Bank fraud.

Punjab launched Mobile App- ‘I-Hariyali’

The Punjab Government has launched a mobile application named ‘i-Hariyali’ aimed at increasing the state’s green cover. The mobile application would enable the users to order free plant saplings. The ‘i-Hariyali’ app, under ‘Mission Tandarust Punjab’ can be downloaded from the app store for free.

Refugees to self-survey their properties

Maharashtra government has now allowed thousands of Sindhi and Punjabi refugees who migrated from Pakistan to carry out self-assessment and survey of their properties. This is to facilitate regularisation, sale of house or redevelopment of properties without any hurdles. The refugees were not allowed to sell their units without permission from the government.

Punjab to install dust collectors

Punjab is set to counter dust pollution in grain markets across the state with the installation of dust collectors on nearly 50,000-grain cleaning machines. It will provide relief to 3,00,000 directly-affected workers. The pollution is the main cause of respiratory and lung diseases among labourers, farmers, and commission agents, as well as those living in the vicinity of the grain markets.

PSBs suffered losses of over ` 87,000 cr

The combined losses posted by public sector banks (PSBs) in financial year 2017-18 were over Rs. 87,357 crore. Scam-hit Punjab National Bank (PNB) topped the list with a hit of nearly Rs. 12,283 crore followed by IDBI Bank. Out of 21 state-run banks, only two — Indian Bank and Vijaya Bank — posted profits during the year under review.

Fitch downgrades PNB on credit profile

Fitch Ratings has downgraded the Viability Rating (VR) of Punjab National Bank to ‘b’ from ‘bb-’ and maintained negative ratings. The two-notch downgrade is a reflection of the significant deterioration in its standalone credit profile. Fitch said the deterioration in its core capitalisation was caused by a sharp increase in its non-performing loans (NPLs).

First dolphin census kicked off in Punjab

The Punjab government along with WWF-India are conducting the first organised census of Indus dolphins – one of the world’s rarest mammals. Found only in India and Pakistan, the Indus dolphins are confined to only a 185 km stretch between Talwara and Harike Barrage in India’s Beas river in Punjab. Indus river dolphin is the national mammal of Pakistan.

AK Mittal to be acting CJ of Punjab & Haryana

Justice AK Mittal has been appointed as the acting Chief Justice of Punjab & Haryana High Court, Chandigarh. Appointment of Justice Mittal, who is the first puisne Judge of the HC, has been notified by centre because of the retirement of CJ Vazifdar. Collegium had recommended the appointment of Justice Krishna Murari as the CJ of High Court but the Centre did not act on this recommendation.

PNB impounds passports of wilful defaulters

Punjab National Bank has impounded passports of 150 wilful loan defaulters who are not repaying loans.This is the first such revelation made by any bank, following govt’s instructions to banks on seeking passport copies of all those who have borrowed more than ` 50 crore. PNB has already declared 1,084 wilful defaulters & has published photos of 260 such defaulters in newspapers.

Punjab crowned National hockey champion

Punjab won its first National title in five years, after winning against Petroleum Sports Promotion Board (PSPB) in the final of the ?8th men‘s National hockey championships? on 25th March. In the Bronze medal match, Railway Sports Promotion Board (RSPB) defeated Air India Sports Promotion Board. Hockey Punjab defeated Petroleum Sports Promotion Board by 2-1.

Belgaum is now home to India?s tallest flag

India‘s tallest national flag was unfurled in Belagavi (also known as Belgaum) in Karnataka. The flag in Belgaum is much larger than the one at the India-Pakistan border at Attari in Punjab. The flag is reported to be 110 m high from the base plate to the top, with a size of 120×80 ft.

PNB’s Viability Rating On Negative Watch

Amid the ongoing million dollar fraud, credit rating body Fitch has placed Punjab National Bank’s viability rating in the negative watch category.PNB’s viability rating of ‘bb’ was placed in the Rating Watch Negative, following the fraud reported recently. Fitch would resolve the rating watch once more clarity emerges on the extent of control failures & impact on PNB’s financial position.

Rs. 28,263 crore for Punjab

The Centre sanctioned a Cash Credit Limit of Rs. 28,262.84 crore for procurement of paddy for Punjab in the Kharif marketing season 2017-18. The amount has been sanctioned for procurement of paddy in the current marketing season, which will last until the end of October. CM has directed all the concerned agencies to take immediate steps to ensure timely payment to the farmers for their produce

Punjab Assembly Passes Resolution on SYL

Punjab Assembly unanimously passed two resolutions on the SYL issue, directing the state govt not to hand over land to any agency. Also directed not to allow anyone to work for the construction of the Sutlej Yamuna Link canal. The second resolution said the State govt should take up the matter with the Centre &neighbouring states for levying cost and royalty on the release of water.