General Trading Chat

eh.. what is this ?? It's the first time I am hearing this news.

https://www.business-standard.com/a...nk-allahabad-bank-reports-119052101187_1.html

PNB could take control of OBC, Andhra Bank, Allahabad Bank: Reports

The govt has been trying to merge smaller regional state-run banks with better managed larger government-owned lenders as one way to reduce bad loans that stand at more than Rs 9 trn

Reuters | New Delhi

Last Updated at May 21, 2019 18:16 IST

Punjab National Bank could take control of two or three small state-run banks, that could include Oriental Bank Of Commerce, Andhra Bank and Allahabad Bank, two sources familiar with the situation told Reuters.

The government has been trying to merge smaller regional state-run banks with better managed larger government-owned lenders as one way to reduce bad loans that stand at more than Rs 9 trillion ($130 billion), or nearly 5% of the nation's gross domestic output.

Last year, the government engineered state-owned Life Insurance Corp's takeover of IDBI Bank, a step to ensure that the bank with one of the highest levels of bad loans on its books is well capitalised.

PNB could start the process of taking control of the banks in the next three months, according to the sources, who declined to be named, as they are not authorised to speak to the media.

PNB shares fell as much as 4% after Reuters reported the news. Its shares ended down 2.55% at Rs 86.10 on the National Stock Exchange on Tuesday.

Allahabad Bank fell 2.6% to close at Rs 45.15 rupees a share, while Oriental Bank of Commerce ended down nearly 1% at 95.20 rupees per share.

The Indian government is seeking to consolidate the nation's debt-burdened state banking sector.
PNB declined to comment, while the other banks did not immediately reply to an email from Reuters seeking further information.

The finance ministry also declined to comment on the story.
 

siddhant4u

Well-Unknown Member
eh.. what is this ?? It's the first time I am hearing this news.

https://www.business-standard.com/a...nk-allahabad-bank-reports-119052101187_1.html

PNB could take control of OBC, Andhra Bank, Allahabad Bank: Reports

The govt has been trying to merge smaller regional state-run banks with better managed larger government-owned lenders as one way to reduce bad loans that stand at more than Rs 9 trn

Reuters | New Delhi

Last Updated at May 21, 2019 18:16 IST

Punjab National Bank could take control of two or three small state-run banks, that could include Oriental Bank Of Commerce, Andhra Bank and Allahabad Bank, two sources familiar with the situation told Reuters.

The government has been trying to merge smaller regional state-run banks with better managed larger government-owned lenders as one way to reduce bad loans that stand at more than Rs 9 trillion ($130 billion), or nearly 5% of the nation's gross domestic output.

Last year, the government engineered state-owned Life Insurance Corp's takeover of IDBI Bank, a step to ensure that the bank with one of the highest levels of bad loans on its books is well capitalised.

PNB could start the process of taking control of the banks in the next three months, according to the sources, who declined to be named, as they are not authorised to speak to the media.

PNB shares fell as much as 4% after Reuters reported the news. Its shares ended down 2.55% at Rs 86.10 on the National Stock Exchange on Tuesday.

Allahabad Bank fell 2.6% to close at Rs 45.15 rupees a share, while Oriental Bank of Commerce ended down nearly 1% at 95.20 rupees per share.

The Indian government is seeking to consolidate the nation's debt-burdened state banking sector.
PNB declined to comment, while the other banks did not immediately reply to an email from Reuters seeking further information.

The finance ministry also declined to comment on the story.
sweep bad news under carpet (election results) may be..
 

ncube

Well-Known Member
I am not kidding but this happend today. How is it possible??

Bnf is -300 in spot

Bnf 32400 CALL is up by +100 which is *+1500%*
@jagadesh, It will be good if you start first with the basics of stock market as it will help you build a strong foundation. One good place to start would be the zerodha varsity https://zerodha.com/varsity/
You can follow the flow from the beginning and progress to advanced topics such as options.
 
@jagadesh, It will be good if you start first with the basics of stock market as it will help you build a strong foundation. One good place to start would be the zerodha varsity https://zerodha.com/varsity/
You can follow the flow from the beginning and progress to advanced topics such as options.
I am doing sir.. I downloaded all 10 modules in zerodha varsity. Parallely i am following market trend today i came across this situation so i asked sir.
 

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