Behold what PNB hath wrought

The Nifty PSU Bank Index has been beaten black and blue, punished mainly for the scam that broke at state-owned lender Punjab National Bank (PNB). Prior to that, the Reserve Bank of India’s revised framework on bad loans had already raised concerns on prolonging the non-performing asset cycle and higher provisioning for public sector banks. […]

How mutual funds prepared to ride out market volatility

Mumbai: Indian mutual fund managers say that they were not caught unawares by the sharp volatility in recent days, but had prepared for it by reducing their exposure to small-cap stocks and moving towards blue-chips. According to data from ValueResearch, 29 out of 52 multi-cap funds increased their large-cap stocks’ exposure between September and December, while […]