Punjab National Bank inks MoU with IPPB

  Punjab National Bank inks MoU with IPPB  Punjab National Bank (PNB) has signed a Memorandum of Understanding with India Post Payments Bank (IPPB) on January 17, 2017 wherein PNB shall provide technology platform for pilot launch of IPPB on receipt of regulatory approval from Reserve Bank of India. Last year in December, the bank had entered into a partnership with cab

aggregator Ola Cabs to aid cash withdrawals for the citizens of Delhi and the National Capital Region (NCR).

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.