The Union Government has announced a huge pay hike for executives and non-unionized supervisors of Central Public Sector Enterprises (CPSEs). They had earlier threatened to start agitation in case the government failed to meet their demands. The revised pay hike would be effective from January 1, 2007. PSU officers would also be entitled to get performance related incentives besides two to three fold increase in basic pay and allowances.

Punjab National Bank (PNB) has entered into an agreement with Mother Dairy, a wholly-owned subsidiary of National Dairy Development Board, to benefit the milk producers in Uttar Pradesh. 

According to the sources, the tie-up would ensure better prices for their produce and time-bound payment through smart cards, to be distributed by the bank.

PNB stated in a release that, a pilot project has already been launched in Bulandshahr district in western UP. 

Public Sector lender Allahabad Bank is targeting a growth of 20 percent in its loan portfolio and 17 per cent in deposits this fiscal.

According to the bank, the loan growth will be mainly from small and medium enterprises, steel, cement and commercial real estate sectors.

Apart from this, the bank is targeting a premium income of Rs 400 crore annually from general insurance business, which would be set up in partnership with other banks and financial institutions by year 2011.

The bank also intends to maintain the net interest margin at 2.75 % and the capital adequacy ratio at 11% during the current financial year.