Punjab National Bank
Chandigarh resident falls victim to Rs 9 lakh credit card fraud; learn how to safeguard your finances from similar scamsI tried to condense the original into a single sentence while still conveying the same information and adding a hint of preventative advice. Let me know if you’d like me to make any changes!
A resident of Chandigarh, T Rajesh Kumar, lost nearly Rs 9 lakh in December 2024 due to an online fraud while attempting to apply for a new credit card. The scam began when he received a call from a person claiming to be a Punjab National Bank (PNB) representative, offering assistance with a new credit card application. The fraudster, who identified himself as “Ajay Tripathi,” tricked Rajesh into sharing his personal information and even showing his credit cards during a video call. After the call, the scammer initiated unauthorized transactions on his credit cards, draining a significant amount of money.
Rajesh reported the incident to the Chandigarh Cyber Cell, which launched an investigation. Unfortunately, the scammers managed to hack his Amazon account but were unable to cause further financial harm.
The incident highlights the need for individuals to be cautious when dealing with online transactions. Experts recommend several precautions to protect against credit card scams, including:
* Verifying the identity of anyone claiming to be from the bank before proceeding with any application
* Never sharing credit card details, CVV, or OTPs over phone calls or messages
* Being wary of requests for video verification for credit card applications
* Verifying the authenticity of links received for credit card applications by visiting the official bank website and avoiding unsolicited links
By taking these precautions, individuals can safeguard their personal and financial information from falling victim to similar credit card scams.
The State Bank of Punjab National Bank (PNB) sanctions Rs 100 crore in loan.
The Punjab National Bank (PNB) organized an MSME Outreach program in Hyderabad, which received an overwhelming response from over 25 beneficiaries of central schemes such as PM-Savnidhi Mudra, PM-Vishwakarma, and PMEGP, resulting in the approval of principal sanction letters worth Rs. 100 crore. Additionally, the bank received over 1,000 crore worth of leads from MSMEs. The event aimed to promote the growth of micro, small, and medium enterprises (MSMEs), which play a crucial role in India’s economic growth, job creation, innovation, and overall development. The MSME sector is known for its potential for employment at a low capital cost. PNB’s Zonal Manager, Deepak Kumar Srivastava, emphasized the bank’s role in supporting MSMEs, with specialized branches and policies to provide financing support. The bank’s policies include built-in concessions and incentives, as well as a well-defined lending policy. Goyal, CGM (Head Office), highlighted the bank’s offerings, including collateral-free loans through the CGTMSE, eliminating the need for a third-party guarantee. The event was also inaugurated by Dr. S. Glory Swarupa, Director General, National Institute for Micro Small and Medium Enterprises (NI-MSME), Hyderabad.
The revised version of the line is:The Prudential Bank (PNB) launches a customer outreach program specifically designed for Micro, Small, and Medium-sized Enterprise (MSME) clients.
Punjab National Bank (PNB) Circle Office in Vijayawada organized a “MSME (Micro, Small and Medium Enterprises) customer outreach programme” across five locations in Andhra Pradesh, including Vijayawada, Guntur, Kadapa, Nellore, and Tirupati. The event aimed to promote the bank’s MSME products and features to small business owners and entrepreneurs. The programmes were well-received, with the bank generating leads worth up to Rs 230 crore.
The programme at each location was inaugurated by a chief guest from various departments or trade association presidents. Senior officials from the bank’s Head Office in Delhi and local staff members attended the event. At the Vijayawada centre, the programme was inaugurated by Vasireddy Murali Krishna, President of the Federation of Andhra Pradesh Chamber of Commerce and Industries (FAPSIA).
The event featured stalls showcasing different MSME units, where customers could enquire about the bank’s MSME products and features. The bank also distributed in-principle sanction letters to some borrowers. The programme was successful in generating interest among MSME customers and promoting the bank’s products and services in the region. The event was a significant step towards supporting small businesses and entrepreneurs in Andhra Pradesh, and PNB’s efforts to promote economic growth and development in the region.
Bank union members staged a protest to voice their grievances
Here is a summary of the content in 400 words:
The United Forum of Bank Unions (UFBU) organized a demonstration in front of the Punjab National Bank’s Circle Office in Chhoti Baradari to highlight the pressing issues faced by bank employees. The union leaders were vocal about the unresolved demands of the staff and criticized the Department of Financial Services (DFS) for micromanaging public sector banks, affecting employee service conditions and undermining the principles of bilateralism. They also expressed strong opposition to outsourcing permanent bank jobs and unfair labor practices.
The union leaders emphasized the need for better working conditions for bank employees, including reducing workloads and improving security measures. SK Gautam, the President of the Punjab Bank Employees Federation, announced that the UFBU would intensify its agitation, culminating in a 48-hour continuous strike on March 24 and 25, unless the demands are met.
The union leaders also highlighted the growing threats faced by bank employees due to abusive customers and the stressful working conditions caused by staff shortages. Puneet Verma pointed out that the irrational increase in bank workload, combined with staff shortages, has led to a high level of stress among employees.
The union also reiterated its long-standing demand for five-day banking, citing the global trend and the availability of alternative banking channels. Sanjiv Sharma emphasized that the existing six-day working week is unsustainable and that bank employees need a better work-life balance.
The demonstration was held to draw the attention of the government and the bank management to the plight of bank employees and to urge them to address the outstanding demands. The union leaders are determined to fight for the rights of bank employees and will not back down until their demands are met. The demonstration was a strong show of solidarity among bank employees and a warning to the government and the bank management that they will not be taken lightly.
Comparing SBI and PNB FDs: Which one offers higher returns on a Rs 5 lakh investment?
The article discusses the fixed deposit (FD) interest rates offered by two of India’s largest government banks, State Bank of India (SBI) and Punjab National Bank (PNB). The FD is a safe investment option that provides guaranteed returns.
SBI offers the following FD interest rates:
* 7 to 45 days: 3.5%
* 46 to 179 days: 5.5%
* 180 to 210 days: 6.25%
* 211 days to less than 1 year: 6.5%
* 1 year to less than 2 years: 6.8%
* 2 years to less than 3 years: 7%
* 3 years to less than 5 years: 6.75%
* 5 years to 10 years: 6.5%
PNB, on the other hand, offers the following FD interest rates:
* 7 to 14 days: 3.5%
* 15 to 29 days: 3.5%
* 30 to 45 days: 3.5%
* 46 to 60 days: 4.5%
* 61 to 90 days: 4.5%
* 91 to 179 days: 5.5%
* 180 to 270 days: 6.25%
* 271 to 299 days: 6.5%
* 300 days to less than 1 year: 6.5%
* 1 year: 6.8%
The article notes that both banks offer a 6.80% interest rate on a 1-year fixed deposit, which means that investors can earn an interest of Rs. 34,877 on a deposit of Rs. 5 lakh. Similarly, both banks offer a 6.75% interest rate on a 3-year fixed deposit, which means that investors can earn an interest of Rs. 1,11,196 on a deposit of Rs. 5 lakh in SBI, and Rs. 1,15,720 in PNB.
The article concludes by advising investors to verify the latest rates and terms with the respective banks before making any financial decisions.
Mumbai: Court sanctions sale of multiple properties belonging to embattled Gitanjali Group
A Mumbai court has allowed the auction of several properties owned by the Gitanjali Group, a now-defunct jewelry company founded by fugitive diamond trader Mehul Choksi, who is one of the main accused in the $2 billion Punjab National Bank (PNB) fraud. The properties include seven residential flats in Kheni Tower, a commercial unit in Bharat Diamond Bourse, and 15 office units and one shop in Surat’s Diamond Park. The Enforcement Directorate (ED) will facilitate the auction after proper valuation of these unsecured properties, which are not pledged as collateral to creditors. This decision comes after the court allowed the valuation of secured properties held by Choksi in September 2024.
The Gitanjali Group, along with Choksi and others, is being investigated by the ED for money laundering based on an FIR registered by the Central Bureau of Investigation (CBI) in 2018. The alleged fraud involves obtaining Letters of Undertaking and Foreign Letters of Credit from 2014 to 2017, resulting in a loss of $1.1 billion to the PNB. Choksi and his associates allegedly enjoyed a credit exposure of $5.1 billion from a consortium of 32 banks as of December 2017. His nephew, Nirav Modi, who is also a co-accused in the PNB fraud, allegedly defrauded the bank of $6.8 billion.
The court has directed the sale proceeds to be deposited as fixed deposits after deducting all associated costs and expenses incurred for the valuation and auction. The court has observed that the value of a property decreases if it is kept idle and without maintenance. The Gitanjali Group and Choksi have already lost several assets worth $155 million, which have been handed over to the liquidator for auction. The ED has no objection to the valuation and auctioning of the unsecured assets, allowing the liquidator to proceed with the process.
The Punjab National Bank (PNB) is hosting its MSME Outreach programme today.
Punjab National Bank (PNB) is organizing a MSME Outreach Programme on February 13, 2025, in collaboration with the National Institute for Micro Small and Medium Enterprises (NIM-SME) in Hyderabad. This event aims to provide MSME entrepreneurs with information on the bank’s specialized loan products and schemes. Over 70 PNB branches are participating in the program, which will be held at NIM-SME.
The event will allow entrepreneurs to learn about the various schemes available to them, including PNB GST Express and PNB Trade Growth, and get instant approval for loan sanction. Participants can also experience the benefits of the digital zone and check their loan eligibility to obtain a sanction letter instantly. Additionally, entrepreneurs who benefit from schemes such as PM-Savnidhi, Mudra, and PMEGP will receive sanction letters at the event.
According to Deepak Kumar Srivastava, Zonal Manager at PNB, MSMEs play a crucial role in the Indian economy, providing large employment opportunities at a lower capital cost than large industries. They also help industrialize rural and backward areas, reducing regional imbalances and ensuring a more equitable distribution of national income and wealth.
The program will be held under the guidance of a specialized MSME credit expert, who will provide customized financial solutions to entrepreneurs. PNB has also set up specialized MSME hubs in Hyderabad for the convenience of MSME entrepreneurs. With this initiative, PNB aims to support MSMEs, which are complementary to large industries as ancillary units, and contribute significantly to the country’s socio-economic development.
Canara Bank, PNB, Union Bank, and other lenders have trimmed their repo-linked lending rates, leading to lower EMI outlays for home loan borrowers.
The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points to 6.25%, its first rate cut in almost two years. In response, several major banks, including Canara Bank, PNB, Union Bank of India, and Bank of Baroda, have cut their repo-linked lending rates by 0.25%. This reduction will benefit home loan borrowers, who will have the option to either reduce their EMIs while keeping the tenure unchanged or reduce their remaining tenure while keeping the EMI amount unchanged.
The repo-linked lending rate (RLLR) is the interest rate at which banks lend money to customers, based on the repo rate set by the RBI. The majority of banks have linked their retail loans to the external benchmark lending rate (EBLR), which is now pegged to the repo rate. Home loan borrowers who opt for a floating rate loan will see their interest rates fluctuate with changes in the repo rate.
The reduction in RLLR will have different implications for old and new home loan borrowers. New borrowers will immediately benefit from the reduction, while old borrowers will receive the benefit as per their interest rate reset cycle. Canara Bank, Bank of Baroda, Bank of India, Union Bank of India, and Punjab National Bank have revised their RLLR rates, with the effective dates ranging from February 7 to 12, 2025. Indian Overseas Bank has also reduced its RLLR by 25 basis points to 9.10%.
The table above summarizes the latest RLLR and lending rate changes by major banks following the RBI’s repo rate cut. Home loan borrowers of these banks will have the option to reduce their EMIs or tenure, providing relief from rising interest rates.
The PNB Home Loan Expo came to a successful close.
The Punjab National Bank (PNB) concluded its PNB Home Loan Expo in Bengaluru on February 8, 2025, at the Chandra Sagara Kalyana Mantapa in Jayanagar. The event, attended by PNB’s Managing Director and CEO Ashok Chandra, attracted a large crowd of prospective homebuyers. The expo showcased PNB’s digital home loan solutions, offering instant online approvals and competitive interest rates starting at 8.40%. Over 30 top builders, including Brigade, Sobha, Godrej, Shriram Properties, and Purvankara, presented their residential projects, providing visitors with a variety of housing options. Exclusive offers and discounts on digital home loans were also available.
The expo allowed visitors to engage with PNB officials, real estate experts, and solar companies, gaining insights into home financing and sustainable housing. One of the key highlights was PNB’s digital platform, which facilitated over 200 on-the-spot loan approvals. The event aimed to provide prospective homebuyers with a one-stop solution for their housing needs, offering a range of options and benefits. With its digital home loan solutions and competitive interest rates, PNB aims to make home ownership more accessible and affordable for its customers.
Discover the best FD rates for senior citizens and uncover the specifics.
According to the provided data, the top interest rates offered by various banks in India for fixed deposits range from 7.75% to 7%. The interest rates vary based on the bank, deposit term, and the senior citizen category. For the one-year fixed deposit, the highest interest rate is offered by Yes Bank for senior citizens at 7.75%, followed by Bank of Baroda’s 7.35%, and Punjab National Bank’s 7.30%.
For the three-year fixed deposit, Kotak Mahindra Bank and Bank of Baroda offer the highest interest rate at 7.65%, with Axis Bank following closely at 7.60%. Yes Bank offers the lowest interest rate of 7.25% in this category for senior citizens. In the five-year fixed deposit category, Axis Bank and Kotak Mahindra Bank offer the highest interest rate of 7.60%, while Punjab National Bank offers the lowest at 7% for senior citizens.
Term-deposit interest rates are generally higher due to the lock-in period, which makes it essential for individuals to clarify the time period before investing their money in a fixed deposit. The data shows that HDFC, Axis, and ICICI Bank offer relatively lower interest rates of 6.50% for the one-year fixed deposit, making Yes Bank, Bank of Baroda, and Kotak Mahindra Bank attractive options for senior citizens seeking higher returns.
A fire broke out at the Punjab National Bank’s Jagatsinghpur branch, but fortunately, no one was injured.
A fire broke out at the Punjab National Bank (PNB) branch in Durgapur Bazaar, Jagatsinghpur, due to a short-circuit on Sunday. The blaze damaged bank property worth lakhs of rupees and important documents, but fortunately, no one was injured. A passerby noticed smoke emanating from the bank early in the morning and alerted local residents, who in turn informed the fire services personnel.
Firemen from Jagatsinghpur and Raghunathpur responded to the scene, disconnecting the power supply to the area with the help of local police. No bank officials or security personnel were present at the branch, so the firemen had to break into the bank through the shutter with the assistance of the local police. The fire was brought under control after around three hours, with four fire engines deployed to extinguish the blaze.
The fire officer, Kartik Biswal, reported that the electronic items, ceiling, five air conditioners, computers, and most documents were gutted in the fire. The branch head of PNB, Sushant Behera, said that the extent of the damage is being assessed, and preliminary findings indicate that the currency notes are safe. The cause of the fire appears to be a short-circuit, which is being investigated further. The bank’s property, including expensive equipment, has been damaged, but fortunately, no one was injured in the incident.
A massive blaze erupts at Punjab National Bank’s Odisha branch, prompting a prolonged firefighting effort as flames are finally brought under control after hours of intense battling.
A major fire broke out at a Punjab National Bank branch in Jagatsinghpur Sadar area on Sunday morning, but fortunately, no casualties were reported. The fire was discovered by local residents who noticed smoke billowing from the bank’s shutter and alerted the police and fire department. Firefighters and police worked together to bring the fire under control, with four teams taking nearly two and a half hours to extinguish the flames.
Preliminary investigations suggested that the fire was caused by a possible short circuit, and a detailed inquiry will be conducted to confirm the exact cause. Bank employees arrived at the scene and assessed the damage, reporting that the strong room and all cash and valuables were safe, but the fire destroyed furniture, air conditioners, and computers.
The bank manager, Sushant Kumar Biswal, assured that the fire did not affect the security of the bank’s assets and that the branch followed proper electrical wiring and safety measures. The Jagatsinghpur Fire Station in-charge, Kartik Chandra Biswal, also believed that a short circuit in the bank’s electrical systems was the likely cause of the fire, but added that additional angles would be investigated.
The incident resulted in minor damage to the building’s infrastructure due to water used to extinguish the fire. The bank is expected to conduct a detailed investigation to determine the exact cause of the fire and take necessary measures to prevent such incidents in the future.
Housing loan offers and modern residential solutions were showcased at the PM Surya Ghar expo in Mandi.
A two-day housing loan and PM Surya Ghar Expo was recently held at Seri Manch in Mandi. The event was organized by Punjab National Bank (PNB) and was inaugurated by Additional Deputy Commissioner Rohit Rathour. The ADC emphasized that such events not only provide individuals with valuable information about affordable housing loan schemes, but also inspire them to pursue their dream of owning a house. He expressed hope that through PNB’s efforts, residents of Mandi district will be able to fulfill their aspirations of owning a house with ease.
The expo aimed to provide participants with detailed information about various housing loan schemes, including the PM Surya Ghar scheme. This scheme supports individuals in building or buying their own homes and is a significant step towards making affordable housing a reality. The event offered a platform for people to understand the benefits and features of these schemes, and to access exclusive offers and discounts on housing loans.
The expo was a significant step towards addressing the housing needs of individuals in Mandi district, which is an important area of focus for the government. The event also aimed to promote financial inclusion by providing people with easy access to credit facilities and resources. The housing loan schemes offered by PNB are designed to make home ownership more accessible and affordable, which is a significant goal for the government.
Overall, the expo provided a valuable platform for people to learn about affordable housing loan schemes and to take advantage of exclusive offers and discounts. It was a significant step towards making housing a reality for many individuals in Mandi district, and showcases PNB’s commitment to promoting financial inclusion and making home ownership more accessible.
PNB launches Home Loan Expo 2025, a premier event offering exclusive deals to empower homebuyers.
Punjab National Bank (PNB) is set to host the PNB Home Loan Expo 2025, a two-day event aimed at providing homebuyers and real estate investors with exclusive financing solutions. The expo will bring together top real estate developers, financial experts, and aspiring homeowners under one roof to make homeownership more accessible, affordable, and convenient.
Attendees can expect to benefit from customized home loan solutions at competitive interest rates, on-the-spot consultations with PNB loan officers, and expert financial guidance to help make informed decisions. Eligible customers can also receive in-principle sanction letters with final sanction letters issued within 72 hours for home loan leads from approved housing projects. The event will also feature a dedicated digital tab allowing attendees to access personalized home loan offers instantly, making the application process faster and more convenient.
Speaking on the occasion, PNB’s Managing Director and CEO, Shri Ashok Chandra, emphasized the bank’s commitment to empowering homebuyers with tailored financial solutions that simplify their journey to homeownership. Shri Kalyan Kumar, Executive Director, PNB, highlighted the expo’s focus on promoting quality retail lending growth, strengthening brand loyalty through long-term customer relationships, and raising awareness about PNB’s home loan products and Suryaghar scheme.
The PNB Home Loan Expo 2025 is open to aspiring homeowners and investors on February 7-8, 2025, providing a unique opportunity to realize homeownership dreams.
PNB Recruitment 2025: Unique Opportunity Awaits, No Written Exam Required, Attractive Salary of Rs 1.75 Lakh Per Month
Punjab National Bank (PNB) has announced vacancies for Internal Ombudsman positions. The application window is open from February 5 to February 22, 2025. To be eligible, candidates must be below 65 years of age. The required qualifications and eligibility criteria will be detailed in the official notification, which can be accessed on the PNB website. The application process is straightforward, and candidates can apply online.
The application fee for this recruitment is Rs. 2000 (non-refundable), which can be paid through IMPS/NEFT. The account details are as follows: Account name – Recruitment of Internal Ombudsman 2024-25, Account number – 9762002200000488, and IFSC code – PUNB0976200. Once selected, the successful candidates will receive a monthly salary of Rs. 1.75 lakh.
The selection process will be based on a personal interview (online or physical). Shortlisted candidates will receive further communication regarding the interview date, time, and location. This is an opportunity for individuals to join the PNB team and work as Internal Ombudsmen. It is essential to carefully review the information provided and follow the application process to apply for this recruitment.
In summary, PNB has released vacancies for Internal Ombudsmen, and interested candidates can apply online until February 22, 2025. The application fee is Rs. 2000, and selected candidates will receive a monthly salary of Rs. 1.75 lakh. The selection process will be based on a personal interview. This is a great opportunity to join the PNB team, and candidates should consider applying before the deadline.
Up to Rs 1.75 lakh monthly salary, no written exam necessary
Here is a 400-word summary of the content:
Punjab National Bank (PNB) has launched a recruitment drive for the position of Internal Ombudsman, with 2 vacancies available. Eligible candidates can apply through the official website, pnbindia.in, until February 22, 2025. The appointment is contract-based and fixed for a period of three years, after which it will automatically end. There will be no requirement for the bank to issue a separate communication regarding the termination of the contract.
The selection process will involve a personal interview, which may be conducted online or in person. The bank reserves the right to modify the selection process based on the number and scope of applications received. Selected candidates will receive a fixed monthly remuneration of Rs 1.75 lakh, subject to applicable tax deductions, for the entire tenure.
As for leave, selected candidates will be entitled to a total of 12 days of leave per year, with a maximum of 4 consecutive days allowed at a time. Unused leave cannot be carried over to the following year, and there will be no provision for leave encashment. Working hours will align with usual banking hours, excluding the 2nd and 4th Saturdays and holidays declared under the N.I. Act.
In addition, all applicants are required to pay a non-refundable application fee of Rs 2,000. This opportunity is an excellent chance for individuals to join PNB as Internal Ombudsmen and contribute to the bank’s mission. With a competitive package and a clear understanding of the terms and conditions, interested candidates should not hesitate to apply before the deadline. It’s essential to carefully review the official notification for more information and to ensure that you meet the eligibility criteria before submitting your application.
Explore the latest fixed deposit interest rates offered by India’s top banks, as reported by Asianet Newsable.
Ahead of the Reserve Bank of India’s (RBI) monetary policy meeting on February 7, several government and private banks in India have announced an increase in their fixed deposit (FD) interest rates, bringing good news for depositors. The banks that have raised their FD interest rates include Union Bank of India, Punjab National Bank, Axis Bank, Shivalik Small Finance Bank, Karnataka Bank, and Federal Bank.
According to reports, Punjab National Bank has offered 7% interest rate for 303 days and 6.7% for 506 days. The new interest rates are effective from January 1st. Similarly, Karnataka Bank offers interest rates ranging from 3.5% to 7.50% for 7 days to 10 years, with 7.50% for 375 days.
Union Bank of India is offering a maximum interest rate of 7.30% for 7 to 10 days, effective from January 1st. Axis Bank is offering interest rates on deposits up to 3 crore rupees ranging from 3% to 7.25% for 7 days to 10 years, with the new rates being effective from January 27th.
Federal Bank is offering 3% to 7.5% interest for 7 days to 5 years or more, with senior citizens receiving 3.5% to 8% interest. The new rates are expected to benefit customers who are looking for a fixed return on their deposits.
It’s worth noting that the RBI’s monetary policy meeting is also expected to bring a repo rate reduction, which could lead to further interest rate changes in the banking sector. For now, depositors can consider investing in these FDs with the newly increased interest rates from these banks, providing them with a better return on their investment.
Pennzoil-NRF (PNB) anticipates a minor net interest margin dent if the RBI cuts interest rates, but excludes any slippage in revenue for the forthcoming March quarter.
Punjab National Bank (PNB) expects a moderate impact on its net interest margin (NIM) if the Reserve Bank of India (RBI) decides to cut interest rates during the upcoming February Monetary Policy Committee (MPC) meeting. According to PNB’s Executive Director Kalyan Kumar, the impact will not be substantial and will only be noticeable in the short term. Kumar emphasized that the bank’s NIM will not be significantly affected by March 2025.
Despite the potential impact on NIM, PNB’s asset quality has improved on a year-on-year basis. The bank’s gross non-performing asset ratio decreased to 4.09% in the latest quarter, compared to 6.23% in the same period last year. Kumar attributed this improvement to the bank’s efforts to contain slippages, which stood at Rs 1,774 crore, one of the lowest in the industry.
Kumar praised PNB’s performance, stating that the bank has done a “very nice job” in managing its slippages despite having a large book of Rs 11.10 lakh crore. He highlighted that the bank’s ability to contain slippages is one of the best in the industry.
Overall, PNB’s Executive Director expressed confidence that the bank’s NIM will not be significantly impacted by rate cuts, and that the bank’s asset quality will continue to improve.
Stay updated on the recent shift in vacancy numbers for IBPS PO and Clerk recruitment
Here is a summary of the content in 400 words:
The Institute of Banking Personnel Selection (IBPS) has increased the vacancy numbers for its Probationary Officer (PO) and Clerical Cadre (Clerk) recruitment for 2024-25. The PO vacancies have risen from 3,955 to 5,888, while Clerk vacancies have increased from 6,128 to 8,792. The final count may be even higher as some banks have not reported their vacancies yet.
The increase in vacancies is a positive development for aspirants, as it directly impacts the cut-off marks and selection chances. More vacancies mean a higher number of candidates will qualify for the mains and interview rounds. The rise in vacancies also indicates that banking organizations are expanding their recruitment efforts, creating better job prospects for candidates.
The increase in IBPS PO vacancies can be attributed to the participation of Bank of Baroda and Bank of Maharashtra, which initially did not report any vacancies but later contributed significantly. Central Bank of India reduced its vacancies, while Punjab National Bank and others increased their hiring slightly.
The IBPS Clerk vacancy increase is largely due to the participation of Indian Bank, Bank of Baroda, and UCO Bank. Canara Bank reduced its clerk vacancies, while most banks maintained their initial vacancy counts.
The reasons behind the increase in IBPS PO and Clerk vacancies include bank expansion and retirements, delayed vacancy reporting by banks, increased workload in public sector banks, economic growth and credit expansion, and the government’s push for employment. The increased vacancies will lead to better selection chances, reduced competition per seat, and higher demand for skilled candidates with strong banking and technological knowledge.
PNB to host home loan exhibition on February 7.
Punjab National Bank (PNB) is organizing a “Home Loan Expo-2025” on February 7th at Hotel Le-Meridian in Hyderabad. The event aims to increase PNB’s customer base in its housing loan portfolio. The expo will be inaugurated by PNB’s MD & CEO, Ashok Chandra, and Rajshekhar Reddy, President of CREDAI Hyderabad. The event will bring together over 70 branches of PNB in Hyderabad, providing a one-stop-shop for customers to explore various housing finance options for buying and constructing their dream home.
The expo will offer competitive interest rates and flexible repayment options, including an interest rate of 8.40% for home loans, with installments starting from Rs 762 per lakh. Additionally, PNB will offer discounts on loan processing fees and documentation charges, making it an attractive proposition for potential customers.
The event is expected to attract a large number of customers, including first-time homebuyers, repeat buyers, and investors, looking for a hassle-free and convenient way to secure their home loan. The expo will provide a platform for customers to interact with PNB’s representatives, get personalized loan solutions, and take home a loan offer on the spot.
The “Home Loan Expo-2025” is a key initiative by PNB to increase its presence in the housing loan market and build long-term relationships with its customers. With its competitive products and rates, PNB is well-positioned to capitalize on the growing demand for home loans in the city. The expo is expected to be a huge success, attracting a large number of customers and further establishing PNB as a leading player in the Indian banking sector.
Several banks raise fixed deposit rates in anticipation of RBI’s upcoming monetary policy review
Here is a summary of the content in 400 words:
Several banks in India have revised their fixed deposit (FD) interest rates, effective from January 1 to January 27. Punjab National Bank (PNB) has introduced new FD tenures with interest rates of 7% for 303 days and 6.7% for 506 days. The bank offers interest rates ranging from 3.5% to 7.25% for tenures spanning 7 days to 10 years.
Shivalik Small Finance Bank offers FD interest rates from 3.5% to 8.8% for general citizens and 4% to 9.3% for senior citizens, effective January 22. Karnataka Bank offers rates between 3.5% and 7.5% for tenures from 7 days to 10 years, with the highest rate of 7.5% applicable for 375-day deposits, effective January 2.
Union Bank of India offers interest rates from 3.5% to 7.3% for deposits under Rs 3 crore, with the highest rate of 7.3% for a 456-day tenure, effective January 1. Axis Bank provides FD rates ranging from 3% to 7.25% for general citizens with tenures between 7 days and 10 years, effective January 27.
Federal Bank offers interest rates from 3% to 7.5% for general citizens, with the peak rate of 7.5% available for a 444-day term, effective January 10. These revisions reflect banks’ strategies to attract deposits amidst expectations surrounding the upcoming RBI policy review.
Overall, these changes aim to attract deposits and provide competitive interest rates to customers. It is essential for individuals to review and compare the interest rates offered by different banks to make informed decisions about their FD investments.
Private banks and financial institutions are shifting to a digital-first strategy to provide uninterrupted 24/7 access to their services.
Here is a summary of the content in 400 words:
Punjab National Bank (PNB) highlights the importance of adopting digital-first strategies in the banking sector, stating that financial services are transforming to seamlessly integrate into the digital ecosystem. The bank emphasizes that with the rise of mobile banking apps, AI-powered virtual assistants, and blockchain-based solutions, financial services are at the forefront of digital transformation.
PNB notes that customers now demand 24/7 access to financial services that align with their fast-paced, digitally connected lifestyles. To meet these expectations, the bank has emphasized the importance of digital wallets, UPI systems, and real-time payment gateways. Additionally, data-driven insights are playing a key role in enhancing customer experiences.
Beyond technological upgrades, PNB also highlighted the role of digital marketing in reshaping the financial services sector. The bank states that digital marketing is revolutionizing finance by enabling precise targeting and measurable outcomes. By leveraging advanced analytics, banks can optimize strategies, enhance engagement, and build lasting customer relationships.
According to PNB’s Social Media Monitoring & Response Team, financial services are adopting a digital-first approach to ensure 24/7 access to services. This includes the use of digital platforms, data-driven insights, and strategic marketing campaigns. The introduction of Central Bank Digital Currencies (CBDCs) is also accelerating this shift, offering secure, government-backed digital payments that align with the evolving financial landscape.
PNB recognizes that financial inclusion is a key focus area, with digital solutions like mobile banking apps and UPI systems enabling financial services to reach a wider audience. The bank believes that a digital-first approach will not only enhance customer convenience but also improve accessibility and foster financial inclusion. Overall, PNB’s adoption of digital-first strategies reflects its commitment to meeting the evolving needs of its customers and staying at the forefront of digital transformation in the financial services sector.
Canara HSBC Life Insurance Streamlines Sales Process with ‘Compass’.
Canara HSBC Life Insurance has launched a new sales tool called Compass, aimed at enhancing customer experience by streamlining sales processes, improving accountability, and increasing productivity. The platform enables sales teams to plan, execute, and monitor activities more efficiently, from initial contact to conversion, and automates routine tasks to ensure every potential customer is effectively nurtured and engaged. Compass also promotes greater accountability by enabling managers to assign and track tasks in real-time, ensuring clear ownership and transparency within teams.
The tool provides data-driven insights and analytics to empower teams to make informed decisions, optimize sales strategies, and identify new growth opportunities. Automation is another key benefit, reducing manual effort and enabling sales teams to focus on strategic and high-impact activities. The platform’s intuitive reporting and analytics dashboard further refines beat planning, helping teams work smarter and more effectively.
According to Soly Thomas, Chief Distribution Officer – Canara Channel and Associates Business, “Compass is designed to equip our sales teams with state-of-the-art tools, enabling them to deliver unparalleled results and enhance customer satisfaction.” The platform is part of Canara HSBC Life Insurance’s commitment to leveraging technology to enhance sales performance and customer engagement, ensuring a more agile and data-driven approach to business growth.
As a joint venture between Canara Bank, HSBC Insurance (Asia Pacific), and Punjab National Bank, Canara HSBC Life Insurance has been active in the market for over 15 years, offering a range of life insurance solutions and products through multiple channels, including direct, digital, and agency models. With a focus on innovation and technology, the company aims to provide simpler insurance solutions, faster claims processing, and a customer-centric approach.
MECL and PNB Forge Strategic Partnership for Corporate Insurance
The Mines Establishment Corporation Limited (MECL), a government-backed organization under the Ministry of Mines, has taken a significant step towards enhancing employee welfare by partnering with Punjab National Bank (PNB) to provide a Corporate Salary Package to its employees. The Memorandum of Understanding (MoU) between the two entities introduces a personal accident insurance coverage of Rs 1 Crore for MECL employees. This collaboration was signed by Shri Pankaj Pandey, Director (Technical), MECL, and Shri Dilip Kumar Kapri, Deputy General Manager & Circle Head, PNB, Nagpur, in the presence of senior officials from both organizations.
This partnership demonstrates MECL’s dedication to the well-being and security of its workforce, emphasizing its commitment to employee empowerment and support. The agreement aims to provide a sense of security and peace of mind for MECL employees, knowing that they are protected in case of an unfortunate event. The MoU is a testament to MECL’s continued efforts to prioritize its employees’ welfare, recognizing their hard work and contributions to the organization.
This collaboration marks a significant step towards enhancing employee benefits and demonstrates MECL’s growing emphasis on employee welfare. The organization has consistently worked towards improving the working conditions and well-being of its employees, and this partnership is a significant addition to its welfare initiatives. The MoU is expected to have a positive impact on employee morale, motivation, and productivity, ultimately contributing to the overall growth and success of the organization.
All leading banks in the country, such as HDFC, SBI, Canara Bank, and others, are playing a vital role in shaping India’s economy.
Here is a summary of the content in 400 words:
The Indian banking industry is a vital part of the country’s economy, with millions of customers receiving a range of financial services. By 2025, Indian banks are expected to continue contributing to economic growth through lending, promoting savings, and supporting businesses. The banking sector has also adopted technology to provide safe and effective digital banking options.
The top 10 Indian banks, led by HDFC Bank and ICICI Bank, have excelled in their financial performance, innovative products, and exceptional customer service. Public sector banks like State Bank of India (SBI) dominate the market, with other notable performances from Axis Bank, Kotak Mahindra Bank, and Punjab National Bank (PNB).
The list of top 10 banks in India by market capitalization includes:
1. HDFC Bank (private, established in 1994, market cap: 13.11 lakh crore, users: 10 crore)
2. ICICI Bank (private, established in 1994, market cap: 9.05 lakh crore, users: 3 crore)
3. SBI (public, established in 1955, market cap: 6.95 lakh crore, users: 50 crore)
4. Kotak Mahindra Bank (private, established in 1985, market cap: 3.55 lakh crore, users: 5.1 crore)
5. Axis Bank (private, established in 1993, market cap: 3.30 lakh crore, users: 2 crore)
6. Bank of Baroda (public, established in 1908, market cap: 1.20 lakh crore, users: 12 crore)
7. Punjab National Bank (public, established in 1895, market cap: 1.19 lakh crore, users: 18 crore)
8. Indian Overseas Bank (public, established in 1937, market cap: 0.97 lakh crore, users: 10 crore)
9. Canara Bank (public, established in 1906, market cap: 0.89 lakh crore, users: 11.65 crore)
10. Union Bank of India (public, established in 1919, market cap: 0.87 lakh crore, users: 15 crore)
These banks have contributed significantly to India’s financial growth, providing digital innovations, personal and business banking products, and shaping the banking industry in India.
PNB Pioneers Real-Time Cybercrime Mitigation with Clari5 Integration
Punjab National Bank (PNB) has made history by becoming the first Indian bank to integrate Clari5’s National Cybercrime Reporting Portal (NCRP) solution, marking a significant step forward in fraud prevention and complaint management. This partnership with the Indian Cyber Crime Coordination Centre (I4C) enables real-time processing of cybercrime complaints across all retail banking channels, including internet and mobile banking, ATMs, UPI, and NEFT/RTGS.
The NCRP Integration Solution features automated lien marking, intelligent account freezing, and customizable whitelisting to protect customer interests. Rivi Varghese, CEO of Clari5, praised PNB’s leadership in pioneering this solution, stating that it sets a new benchmark for the Indian banking sector.
The integration has three key features: automated lien marking and account freezing, real-time processing across channels, and customizable whitelisting. The system can automatically place holds on suspicious accounts and freeze them when necessary, and process complaints in real-time across various channels, ensuring swift action against potential fraud. The system also allows for customizable whitelisting to protect legitimate customer transactions from being affected by fraud prevention measures.
This move is significant as it is expected to set a new industry standard, encouraging other banks to implement similar technologies to enhance fraud prevention and customer protection. The success of this implementation at PNB lays a strong foundation for expanding this transformative technology across other banks in India, ensuring a safer and more secure financial ecosystem. As cyber threats continue to evolve, the industry will benefit from this integration, maintaining the integrity and security of the banking system.
PNGC confers Sudhir Saxena with prestigious Republic Day honour for his impressive bronze medal win in Kickboxing
The Punjab National Bank (PNB) has honored Sudhir Saxena for his outstanding achievement in Asian Kickboxing. Saxena won a bronze medal in the Asian Kickboxing Championship, making India proud. To celebrate his achievement, PNB is honoring him on Republic Day.
Saxena’s bronze medal in the Asian Kickboxing Championship is a significant achievement, and his recognition by PNB is a testament to his hard work and dedication. The bank has taken the initiative to honor outstanding sportspersons, and Saxena is the latest recipient of this recognition.
It is not known what the specific honor entails, but it is likely to be a formal ceremony or an award ceremony held on the occasion of Republic Day, which falls on January 26th every year in India. The day is celebrated to commemorate the adoption of the Constitution of India on January 26, 1950.
Saxena’s achievement in Kickboxing is remarkable, especially for India, where the sport is not as popular as other sports like cricket or football. His Bronze medal in the Asian Championship puts him in the league of top Kickboxers in the continent and is a source of pride for the entire nation.
The recognition by PNB will certainly be a motivation for Saxena to continue his training and push his limits even further. It is also a reminder to other aspiring sportspersons that their hard work and dedication can lead to such prestigious recognition. PNB’s initiative to honor outstanding sportspersons is a great way to promote sports culture and patriotism in the country.
In conclusion, Sudhir Saxena’s achievement in Asian Kickboxing has made India proud, and his recognition by PNB on Republic Day is a testament to his remarkable feat. His dedication to the sport and his country has earned him a special place in the hearts of Indians, and his story will inspire many to take up the sport.
SBI, IDBI Bank, PNB, and Bank of Baroda roll out new fixed deposit schemes in January 2025, offering exciting interest rates to customers.
Here is a summary of the content in 400 words:
Several major Indian banks, including State Bank of India (SBI), IDBI Bank, Punjab National Bank, and Bank of Baroda, have launched new fixed deposit (FD) products in January 2025 to attract more deposits. These schemes offer higher returns, greater flexibility, and tailored options for specific customer segments.
SBI has introduced two new deposit schemes for retail investors. The Har Ghar Lakhpati RD scheme is a pre-calculated recurring deposit scheme that helps customers accumulate Rs1 lakh or its multiples, while the SBI Patrons FD is a special fixed deposit scheme exclusively for super senior citizens (80+ years) with an additional 0.10% interest rate over the standard senior citizen rate.
IDBI Bank has launched the IDBI Chiranjeevi-Super Senior Citizen FD, a limited-period Utsav FD scheme offering attractive interest rates, with the highest being 8.05% per annum for a tenure of 555 days. This scheme is designed to address the financial needs of individuals aged 80 years and above.
Punjab National Bank (PNB) has introduced two new tenures, 303 days and 506 days, with interest rates ranging from 7% to 7.25% for general citizens and 7.25% for senior citizens. Bank of Baroda’s Liquid Fixed Deposit scheme allows partial withdrawals without closing the entire deposit, reducing premature withdrawal penalties and ensuring easy access to funds.
These new FD products cater to various customer segments, including super senior citizens, general citizens, and retail investors. With interest rates ranging from 6.7% to 8.05% per annum, these schemes provide attractive returns for investors looking to save and grow their money. It is essential for investors to review the terms and conditions, interest rates, and other benefits before investing in these schemes.
Senior citizens take note: Interest rates for you have been updated by these banks, check the new rates now
Many major Indian banks, including State Bank of India (SBI), Punjab National Bank (PNB), Indian Bank, Union Bank of India, and RBL Bank, have introduced new fixed deposit (FD) schemes for super senior citizens aged 80 and above. As per the Income Tax Act, residents aged 80 years or above are considered super senior citizens. This age group is entitled to higher returns on FDs than senior citizens above 60 years.
SBI has launched a special FD scheme called ‘SBI Patrons’ for super senior citizens, offering 10 basis points (bps) higher interest rates than the current rates. SBI offers the highest interest rate of 7.60% on super senior citizen FDs for tenures of 2 years to less than 3 years and 5 years to 10 years.
PNB offers a maximum interest rate of 8.10% for super senior citizens for a tenure of 400 days, with an additional 80 bps interest rate benefit over the applicable card rate. Indian Bank is offering 25 bps higher interest rate to super senior citizens than senior citizens, with its ‘IND SUPER 400 DAYS’ scheme offering 8.05% for super senior citizens.
RBL Bank is offering 0.25% higher interest on FDs to super senior citizens than senior citizens, with the highest interest rate of up to 8.75% on 500 days FD for super senior citizens. Union Bank of India is offering an additional interest rate of 0.50% over the normal rate for resident senior citizens, with a bonus 0.25% higher rate for resident super senior citizens.
These new FD schemes are available to existing and new customers, and the interest rates are valid until March 31, 2025. Super senior citizens can consider these schemes to earn higher returns on their fixed deposits, making them a great option for those looking to maximize their returns in a relatively low-risk investment.
Sony Entertainment Television collaborates with PNB as the ‘Official Banking Partner’ for Kaun Banega Crorepati, marking a strategic partnership.
Punjab National Bank (PNB), a public sector bank, has partnered with Sony Entertainment Television as the “Official Banking Partner” for the popular TV show “Kaun Banega Crorepati” (KBC) for its “Gyan Ka Rajat Mahotsav” season. This strategic collaboration aims to promote financial inclusion and provide viewers with secure, convenient, and innovative banking solutions. The partnership will run throughout the season, featuring on-air branding, special segments, and customer-focused initiatives.
As the official banking partner, PNB will have prominent branding, including branded cheques and recognition of winners, interactive digital features, and financial literacy campaigns. The bank’s digital app, PNB ONE, will also be featured during gameplay and interactive voting. Additionally, PNB will conduct digital and on-ground activations to promote financial awareness and inclusion.
The partnership aligns with PNB’s mission to empower individuals and communities through innovative and accessible banking solutions, reinforcing its vision of becoming the preferred banking partner. Sanjay Varshneya, CGM – Corporate Communications at PNB, expressed the bank’s excitement about the collaboration, stating that it will drive financial awareness and inclusion across the nation.
KBC, hosted by the renowned Amitabh Bachchan, has been a household favorite, inspiring millions with its engaging format and life-changing stories. This partnership marks a significant milestone in PNB’s journey to build emotional connections with customers while providing innovative banking solutions. By partnering with KBC, PNB aims to make a meaningful impact in the lives of millions, promoting financial inclusion and empowering individuals to take control of their financial futures.
Compare the best FD rates for senior citizens: A snapshot of interest rates offered by top public sector banks (SBI, BoB, PNB) and private banks on 1-year, 3-year, and 5-year fixed deposits.
As a senior citizen, it is important to find investments that provide a steady income and security. Fixed Deposits (FDs) are a popular option for senior citizens, as they are safe and offer guaranteed returns. While the interest rates on FDs for senior citizens may vary based on the tenure and bank, there are certain banks that offer more attractive rates.
State Bank of India (SBI) offers 7.75% interest rate to senior citizens on its 444-day Amrit Vrishti scheme, while its 1-year, 3-year, and 5-year FD plans offer 7.30%, 7.25%, and 7.50% interest rates, respectively. Bank of Baroda (BoB) offers 7.80% interest rate to senior citizens on its 400-day Bob Utsav scheme, while Punjab National Bank (PNB) offers 7.75% interest rate on its 400-day FD scheme.
Canara Bank, ICICI Bank, Axis Bank, and HDFC Bank are also offering attractive interest rates to senior citizens on their FD schemes. For instance, Canara Bank offers 7.90% interest rate to senior citizens on its 3-year to less than 5-year FD scheme, while ICICI Bank offers 7.80% interest rate on its 15-month to less than 18-month FD scheme. Axis Bank offers 7.75% interest rate on its 15-month to less than 2-year FD scheme, and HDFC Bank offers 7.90% interest rate on its 4-year 7-month FD scheme.
It is important to note that the minimum deposit amount varies from bank to bank, typically ranging from 7 days to 10 years. Senior citizens can benefit from these FD schemes by investing in the tenure and bank that suits their financial needs and goals.