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PNB expects to clock business of Rs 11.50 lakh cr by fiscal-end (Lead)

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Kolkata, Oct 25 (IANS) State-run lender Punjab National Bank (PNB), which is eyeing a total business of about Rs 11.50 lakh crore by the end of the current financial year, is hoping to bring down the net NPA (non-performing asset) ratio to less than 8 per cent by end 2017-18, an official said here on Wednesday.

“Currently, our total business stood at about Rs 10.50 lakh crore and of which, 60 per cent was of deposits and the rest constitutes the credit. We are targeting a total business of Rs 11.50 lakh crore by end of the current fiscal,” PNB Executive Director Sanjiv Sharan told IANS.

As on June 30 this year, the bank’s NPA as a percentage of total loans was at 13.66 per cent while its net NPA ratio was at 8.67 per cent.

“We are hoping that the level of gross NPA would come down to less 12 per cent while net NPA ratio is expected to be less than 8 per cent by end March 31, 2018,” he said.

The Reserve Bank of India (RBI) had identified 12 large accounts with exposure of more than Rs 5,000 crore and more than 60 per cent of which is recognised as NPAs.

Banks have to refer to the new Insolvency and Bankruptcy Code (IBC) for these accounts.

“The PNB has the exposure in nine accounts out of these 12 stressed accounts referred to IBC and the exposure would be to the tune of Rs 12,000 crore in the nine accounts. In addition to this, we have exposure of about Rs 6,000 crore in 20 stressed accounts, out of 29 in additional list,” he said.

The bank had reported that its gross NPAs, as on June 30, 2017, stood at Rs 57,720.70 crore while its net NPAs were at Rs 34,572.71 crore.

Meanwhile, PNB reduced Marginal Cost of Funds Based Lending Rate (MCLR) by 20-25 basis points with effect from September 1 and it also slashed base rate by 20 basis points from 9.35 per cent to 9.15 per cent from September 1.

–IANS
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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

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