Govt extends tenure of Punjab & Sind Bank MD till Feb 2027
Swarup Kumar Saha
till February 2027.
Saha was initially appointed as
MD and CEO
of the bank for three years. He assumed the charge as MD & CEO of Punjab & Sind Bank on June 3, 2022.
According to a notification issued by the
Department of Financial Services
, the government has extended the tenure of Saha as MD and CEO of Punjab & Sind Bank beyond his currently notified term which was ending on June 2, 2025 till the date of his superannuation that is February 28, 2027 or until further order.
The notification comes following the approval of the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi.
For the fourth quarter ended March 2024, Punjab & Sind Bank had reported over two-fold jump in net profit at Rs 313 crore, as against Rs 139 crore in the year-ago period.
Live Events
During the quarter, the bank's total income increased to Rs 3,836 crore, from Rs 2,894 crore a year ago. Interest income grew to Rs 3,159 crore in the reported quarter, from Rs 2,481 crore in the fourth quarter of FY24.
Net Interest Income (NII) in the reported quarter also improved to Rs 1,122 crore, from Rs 689 crore in the same period a year ago. PTI
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
29 minutes ago
- Time of India
Now, Gill's a smash hit with brands
Gill MUMBAI: Indian cricket's latest blue-eyed boy, Shubman Gill , is the new favourite with brands. His stellar performance in the India-England Test series, both as captain and batsman, had already bolstered his brand value. Now, Gill's selection for the Asia Cup as vice-captain will only give further impetus to his brand equity. A Gen Z with much of his career ahead of him, Gill has all the chops a brand looks for. "Gill's brand value has appreciated by 30%-40% post the India-England series. His brand fees will increase anywhere in the range of 25%-50% depending on the kind of brand approaching him," Neeraj Jha, senior sports analyst and commentator, told TOI. From automobiles to global luxury brands, queries for Gill have shot up from an average of three to four per month to about 10-15 now, sources aware of discussions said. Gill currently charges endorsement fees in the range of Rs 4-5 crore for one brand per year. That can now easily go up to anywhere between Rs 6-8 crore, said Neerav Tomar, managing director and CEO at IOS Sports. Another analyst said that a few of his earlier deals were in the range of Rs 2-Rs 3.5 crore. "Gill already endorses close to 20 brands, and this number should go up. Youthful brands will seek new faces. Gill is the new Virat Kohli ," Tomar said. Gill's team, however, declined to comment. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like TV providers are furious: this gadget gives you access to all channels Techno Mag Learn More Undo The cricketer bagged a few big deals before the Test series. Tyre major MRF and global eyewear brand Oakley (for India) signed Gill as their brand ambassadors. Gill also expanded his associations with Casio and Coca-Cola during the year. From about eight brand associations in 2023, Gill's brand portfolio nearly doubled to 16 in 2025. The cricketer is estimated to have earned about Rs 40 crore in endorsement earnings in 2024. "A lot of MNCs are looking to sign Gill. Small brands can't afford him. His fees will only go up if he keeps on delivering," said Amitesh Shah, founder and CEO at sports, media, and entertainment company Legaxy, who estimates Gill's brand value to see a boost of over 40%. Sources said that Gill is "selective" about his brand partnerships, ensuring alignment with his values and career journey. Going ahead, perenniality (ability to deliver across all cricket formats) will be key for Gill to bag big brand deals, said Sandeep Goyal, chairman at Redifussion. "Perenniality leads to continued visibility, which is key to the endorsement game," said Goyal. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Time of India
30 minutes ago
- Time of India
Stocks in news: IndusInd Bank, India Cements, Godrej Properties, Clean Sciences, Exide Industries
Market extended gains for the fifth consecutive session on Wednesday. In today's trade, shares of IndusInd Bank , India Cements , Godrej Properties , Clean Sciences, Exide Industries among others will be in focus due to various news developments. IndusInd Bank IndusInd Bank has taken decisive measures to address the identified legacy issues in treasury and microfinance as part of its efforts to come out of the financial mess caused by past frauds, the bank's chairman Sunil Mehta has said. Godrej Properties Mumbai-based Godrej Properties (August 20) announced the acquisition of a 7% stake in Godrej Skyline Developers (GSDL) for a total consideration of Rs 9.25 lakh from existing shareholders. Clean Sciences Promoters Ashok Boob and Krishna Boob are likely to sell up to 24% stake in Clean Sciences through a block deal, according to reports. Exide Industries Live Events Exide Industries has invested Rs 100 crore in its wholly-owned subsidiary, Exide Energy Solutions through a rights issue. Vedanta Vedanta has informed the NCLT about its intention to issue a corporate guarantee, which will be in favour of the Ministry of Petroleum and Natural Gas (MoPNG). Jupiter Wagons Jupiter Wagons received letter of intent worth Rs 215 crore for supply of 5,376 wheelsets for Vande Bharat Train. India Cements UltraTech board approved selling up to 6.49% stake in India Cements via OFS.
Time of India
44 minutes ago
- Time of India
UltraTech to offload shares worth 740 crore in India Cements
CHENNAI: A little over a year after UltraTech Cement acquired India Cements, billionaire industrialist Kumar Mangalam Birla 's building materials flagship is set to sell Rs 740 crore worth of India Cements shares to comply with Sebi's minimum public shareholding norms. Currently, UltraTech owns 81.5% of India Cements, while the capital market regulator's rules mandate that listed companies must have at least 25% of their shares owned by the public. UltraTech will sell 6.5% of India Cements between Thursday and Friday, bringing its stake lower to 75%. It has fixed the floor price for the share sale at Rs 368 apiece, which is slightly lower than India Cements' Wednesday closing price of Rs 370 on the BSE. UltraTech's stake went over 75% after an open offer that was triggered when its holdings in India Cements crossed a specific threshold. The open offer for an extra 26% stake to India Cements' public shareholders was oversubscribed, which was a rare occurrence in such offers. According to Sebi rules, India Cements has until Feb 3, 2026, to ensure enough shares are held by the public. In June 2024, Birla first checked into India Cements by buying 24% from ace investor and DMart store founder Radhakishan Damani. A month later, he acquired 32.8% from India Cements founding family N Srinivasan and some of his relatives. The acquisition triggered Birla to make an open offer for another 26% to India Cements' public shareholders. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
