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.
Respectable Chief Minister of Tamil Nadu Joseph Vijay has expanded the his government and with…
The Reserve Bank of India (RBI) has announced the $5 billion USD-INR buy/sell swap auction…
Kerala become the first Indian state to create a Artificial Intelligence (AI) portfolio at the…
India is witnessing rapid infrastructure growth through major central government projects spread across different states.…
Government of Haryana has launched the ShramMitra app which is the new platform designed to…
State government of Madhya Pradesh partnered with the Google Cloud India for the Simhastha Kumbh…