The fresh restructuring window for loans up to Rs 25 crore is also likely to support the microfinance institutions sector in alleviating the additional asset quality stress arising due to COVID-19.
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Punjab National Bank Share Price: On Tuesday, May 11, Punjab National Bank opened on the BSE at Rs 35, witnessing an intra day high of Rs 35.35, and an intra day low of Rs 33.75
The domestic stock market seemed on course to snap a four-session rally, on the back of weakness in metal and financial shares; the Nifty Metal index has dropped 3 per cent and Nifty Bank index slid 1.6 per cent
Fitch said these measures would provide some relief to financial institutions over the next 12-24 months but at the expense of delaying the recognition and resolution of underlying asset-quality problems.
Currently, the country's largest bank offers interest rate starting from 2.9 per cent on fixed deposit of 7 days to 45 days and maximum interest rate.
On May 5, the RBI announced an on-tap liquidity window of Rs 50,000 crore with a tenor of three years that can be provided by banks for lending support to entities like hospitals, diagnostics, etc
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