Shri CH.S.S. Mallikarjuna Rao, MD and CEO PNB on 7th Monetary Policy 2019-2020

"RBI's decision has been very bold in terms of addressing current challenges faced by the economy. All the measures taken, whether Repo rate reduction, CRR cut, TLTRO, moratorium on repayments, infusion of liquidity, etc have been unprecedented and in right context.

The 3 month moratorium on all term loan installments along with deferment of interest on working capital will help mitigate the debt servicing burden due to covid 19 disruption and prevent transmission of financial stress among various sectors of the economy.

Total liquidity injection of RS 3.74 lakh crore through TLTRO, CRR & MSF will address the liquidity stress in view of highly volatile financial markets. Considering the potential stress, the last tranche of 0.625 percent of CCB has also been deferred to Sept' 30 2020.

However challenges remain in terms of transmitting these measures to customers amid social distancing. Effective digital and electronic delivery to the last mile will remain the key issue."

Shares of PUNJAB NATIONAL BANK was last trading in BSE at Rs.33.45 as compared to the previous close of Rs. 33.45. The total number of shares traded during the day was 1271264 in over 4080 trades.

The stock hit an intraday high of Rs. 35.95 and intraday low of 33.3. The net turnover during the day was Rs. 43789174.

Source : Equity Bulls

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