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 celebrating 11 successful years of the Pradhan Mantri Mudra Yojana (PMMY), a major…
Air pollution continues to be a serious problem in India, and a new report has…
On the occasion of World Health Day, the Maharashtra government started a new rural healthcare…
The global tension around the Strait of Hormuz increased on Tuesday after Russia and China…
In a recent inspiring sports news story, 18-year-old Payal Nag from Odisha has made history…
The Monetary Policy Committee (MPC) of the Reserve Bank of India, in its 60th meeting…