Punjab National Bank's FY20 aim: Find a page in investors' good books

Nearly a year has passed since the Nirav Modi scam hit Punjab National Bank (PNB), now the third-largest public sector bank (PSB) after the merger of Bank of Baroda with Vijaya Bank and Dena Bank.  However, as a result of the scam, PNB is back to square one in terms of capital adequacy. With common tier-1 capital at 6.2 per cent, it is weak for supporting growth or cleaning up the book further.  The question is whether the bank — after three rounds of fund infusion by the government — will approach it once again, or raise money on its own this time. If t.....

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