PNB Pioneers Real-Time Cybercrime Response with Clari5 Integration
The Board of Punjab National Bank (PNB) has approved the initiation of the process to dilute 10% of its shareholding in Canara HSBC Life Insurance through an initial public offering (IPO). PNB currently holds a 23% stake in this life insurance joint venture.
PNB acquired its stake in Canara HSBC Life Insurance following the amalgamation of the erstwhile Oriental Bank of Commerce (OBC), which originally held the 23% stake. Canara Bank owns 51% of the company, while HSBC Insurance (Asia Pacific) Holdings Ltd holds the remaining 26%.
The board’s approval, granted on June 4, 2024, is for listing the company on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) through an IPO. This process will be subject to obtaining necessary regulatory approvals.
On the day of the announcement, PNB’s shares experienced a nearly 15% drop. However, despite this loss, the stock has gained 20% so far this year.
India is a country where many different types of fruits are grown because of its…
In a significant development amidst ongoing legal scrutiny, BlackRock, the world’s largest asset manager, has…
Union Minister of Health and Family Welfare, J.P. Nadda, recently launched the Inter-AIIMS Referral Portal…
India and Russia have agreed on six new strategic projects to bolster bilateral investment ties,…
The 9th edition of the Global Technology Summit (GTS), a flagship event co-hosted by the…
The trade war between the United States and China has escalated dramatically, with China announcing…