Punjab National Bank (PNB) has entered into partnership with Ola Cabs, the country’s largest ride-hailing service, in order to ease cash crunch post demonetisation. The bank has partnered with Ola Cabs in Kolkata for the same, while for Hyderabad it has collaborated with SBI and Andhra Bank. Ola on a test basis in its cabs in Kolkata and Hyderabad, where taxis with a bank officer and POS machine are parked at different locations dispense cash of Rs 2,000 per card.
PNB has reported 11.54% fall in its net profit of Rs 549.36 crore for the quarter ended September 30, 2016 as compared to a net profit of Rs 621.03 crore for the same quarter in the previous year. However, total income of the Bank increased by 3.77% at Rs 14218.27 crore for the quarter under review from Rs 13701.93 crore for the corresponding quarter previous year.
Company Name | CMP |
---|---|
SBI | 801.40 |
Bank Of Baroda | 268.15 |
PNB | 136.45 |
Canara Bank | 617.55 |
Union Bank Of India | 150.85 |
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