PNB
1 deep-dive · 8 policy notes
What has moved PNB
8 dated calls from the policy coverage · 4 positive · 1 negative · 3 watch
- Positive2026-10-19
named. PSU banks delivered both the earnings and the price action, and they are the segment least exposed to foreign selling because foreign ownership is structurally low
Policy Pulse - Ministries & Regulators - 19 Oct 2026 - Watch2026-10-05
PSU and private banks absorbed the DII bid last week. Monday's Nifty Bank strength (+0.48%) came with HDFC Bank down 2.20%, indicating rotation rather than sector conviction
Policy Pulse - Ministries & Regulators - 05 Oct 2026 - Watch2026-10-01
Well-telegraphed collections remove a tail risk to the fiscal arithmetic. They do not change the credit cycle, which is what the banks trade
Policy Pulse - Ministries & Regulators - 01 Oct 2026 - Negative2026-10-01inferred
Institutions leaning more heavily on bulk deposits face faster deposit repricing and less pricing discretion under the new regime. This is a structural, slow-moving margin headwind rather than a one-day event ⚠️ inferred
Policy Pulse - Ministries & Regulators - 01 Oct 2026 - Watch2026-09-30
Nifty PSU Bank closed at 8,026.10 on September 29, down 3.35% on the week and 6.61% on the month, with the index P/E at 7.44 against a five-year median of 8.25 — cheap, and cheap because the macro is hostile
Policy Pulse - Ministries & Regulators - 30 Sep 2026 - Positive2026-09-30
Mid-tier acquirers get a proportionally larger uplift because UPI merchant fee income is a bigger share of their non-interest income
Policy Pulse - Modi / India Govt - 30 Sep 2026 - Positive2026-09-16
As acquiring banks they capture the largest single share of the pool — roughly ₹14,000 crore of the estimated ₹22,000 crore; PSU banks were among the day's leaders with SBI +2.42%
Policy Pulse - Ministries / Regulators - 16 Sep 2026 - Positive2026-09-16inferred
Higher mandatory contributions expand low-cost float and salary-account relationships; PSU banks were among the day's leaders
Policy Pulse - Modi / India Govt - 16 Sep 2026
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Mentioned in Policy Pulse
Policy Pulse - Modi / India Govt - 06 Oct 2026
The Cabinet approved a Rs 10,000 crore SME Growth Fund to supply patient growth equity to high-potential SMEs - BSE, SBIN and CHOLAFIN are the inferred beneficiaries - and cleared the Integrated Transport and Logistics Authority as an SPV that will write a long-term National Transport Plan and appraise every government infrastructure project worth Rs 500 crore or more, a positive read-through for LT, IRB and CONCOR. The World Bank raised India's FY27 growth forecast 50 basis points to 7.1%, and the primary market stayed open with SRIT India listing at a 13.85% premium while AceVector debuted at an 11.5% discount.
Policy Pulse - Ministries & Regulators - 05 Oct 2026
The RBI's MPC opened a three-day meeting with roughly 60% of polled economists expecting the first repo hike since February 2023 - a 25bp move to 5.50% on October 7 that would pressure LICHSGFIN, DLF and MARUTI - while the 57th GST Council meets the same day with a pre-announced compliance, refunds and ITC package that is positive for SUNPHARMA, WELSPUNLIV and PAYTM. SEBI's Project Jagrook went live on every broker website today, and the Rs 80,000 crore Project-75(I) submarine programme with TKMS reached final approval stage as the clearest single positive for MAZDOCK.
Policy Pulse - Ministries & Regulators - 01 Oct 2026
The Finance Ministry cut the diesel and ATF export levy for a second fortnight, positive for IOC, BPCL and RELIANCE, as GST crossed Rs 2 lakh crore for a third month and the manufacturing PMI hit a seven-month high of 55.1. SEBI cleared corporate bond index futures for the NSE, the AMCA prototype RFP closed on 30 October with LT, BEL, BHARATFORG, BEML and DATAPATTNS named in the three shortlisted consortia while HAL did not qualify, and the rupee closed at 96.31 into a live RBI hike risk on October 7.
Policy Pulse - Ministries & Regulators - 30 Sep 2026
The CGA put the fiscal deficit at 41.9% of the FY27 target with five months gone, the RBI reported a record $200bn net forward dollar book as the concessional FCNR(B) window closed, and SEBI's Pandey rebuilt FPI onboarding rails while confirming no exchange interoperability and no changes outside the CAS paper. BSE replaced Wipro in the Nifty 50, the Andaman offshore mineral auction returns on October 1, and SEBI's 215th Board rewrote PMS regulations for MOTILALOFS and BSE.
Policy Pulse - Modi / India Govt - 30 Sep 2026
The Cabinet approved the Rs 1.86 lakh crore PM-DHARA scheme - 135 GW of renewable evacuation plus 50 GWh of battery storage - as part of a Rs 2.79 lakh crore package with the Rabi MSP policy and a Delhi traffic system, drawing POWERGRID, KEC, KPIL and the transformer and storage complex into focus. Modi also spoke with Trump as Goyal met Greer in Milwaukee on the interim trade deal, the Supreme Court kept the 0.4% UPI MDR on track for October 15, and the Sabarmati LNG train and Kandla e-methanol plant carried the green-fuel push.
Policy Pulse - Ministries / Regulators - 16 Sep 2026
NPCI's 0.4% MDR on merchant UPI above Rs 2,000 from October 15 opens a Rs 22,000 crore revenue pool by FY28 - PAYTM hit a 52-week high of Rs 1,855.50 while acquiring banks SBIN and AXISBANK led the gainers. SEBI gave arbitrage funds a 1% unhedged leeway to revive the closing auction, and BIS's 67% hallmarking fee hike sent KALYANKJIL and PCJEWELLER down 4-5%.
Policy Pulse - Modi / India Govt - 16 Sep 2026
PM Modi chaired the annual global semiconductor CEO roundtable today and opens SEMICON India 2026 tomorrow - 600+ companies, 300 international, 52 countries, with DIXON, CGPOWER and UNOMINDA named at the event. The Cabinet also cleared the first EPFO wage ceiling hike in 12 years to Rs 25,000 effective September 17, lifting TEAMLEASE and the AMC cohort while raising statutory costs for VTL and TRIDENT.
Policy Pulse — Global — 12 Aug 2026
Tame CPI + AI earnings (CoreWeave +18%) carry global equities; Hormuz holds crude near $89 two-way; India rotates to metals/PSU-banks away from Tata/IT/healthcare