What PNB’s and Lanco’s problems tell us

On Friday Punjab National Bank (PNB) has asked the government to provide it Rs 1,500 crore to shore up its equity. The reasons? Its profit from its core operations as distinct from its investment in government papers has dipped 2.3 per cent in the June quarter, year on year. Partially because, in one quarter, the public sector bank's restructured power sector dues has leapt up by 26 per cent to Rs 12,240 crore, as its presentation to analysts show.

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