PNB puts on the block ₹760 cr of bad loans
Punjab National Bank is selling bad loans exceeding ₹760 crore, including significant exposures to Gammon India and Simbhaoli Sugars. This follows a larger sale attempt last week of ₹2,500 crore in non-performing assets. The bank aims to recover at least 40-50% of the identified ₹4,000-5,000 crore in bad loans.
FPIs dump FMCG, Financial Services in second half of December; IT sees inflows
Foreign investors divested ₹16,848 crore from Indian markets in the latter half of December. FMCG and financial services saw major outflows. However, the information technology sector attracted ₹4,457 crore in inflows, marking the first positive fortnight since June. This shift indicates a change in global investor sentiment towards Indian equities.