Will the marriage of convenience between PNB and IFCI materialise?

Introduction: Punjab National Bank (PNB),established in 1895 in lahore.is the second largest government - owned commercial bank in India.The government of India declared PNB, as a nationalised bank,on July 19,1969.Punjab National Bank offers a wide variety of banking services which include corporate and personal banking,industrial finance,agricultural finance,financing of trade and international banking.

Industrial Finance Corporation of India (IFCI),was incorporated on July 1,1948 in New Delhi.The Corporation provides medium and long-term credits to industrial concerns in India. listing date 26-04-1995.Ganesha predicts the chances of PNB and IFCI merger based on astrological analysis.

Astrological Analysis:
Considering the Sun chart of Cancer,rising Ascendant of PNB as on July 19,1969,Moon is posited in Leo and Mercury,Venus and Mars are posited in their own houses.The horoscope of PNB seems very good to Ganesha.But the combination of Jupiter and Ketu as well as debilitated Saturn may place obstacles in the path of progress.

Horoscope of incorporation of PNB:
Sun is posited in Gemini rising sign.There is a conjunction of Mercury and Venus in the first house.Saturn is transiting over natal Mars and Ketu is transiting over natal Saturn.These transits are not favourable,says Ganesha.According to the horoscope,the combination of Moon and Rahu disturbs the entire chart.

What Next?
- Overall,the chances of merger of PNB with IFCI look bleak.
- This deal may prove costly to PNB as short term financial gains are not anticipated.
- If this deal gets finalized,then it will prove profitable for IFCI.
- If this deal gets finalized,then PNB may try to manage educational loans and also try to retain its NRI
customer base.

Conclusion: According to some reports,IFCI will again invite bids for inducting a strategic partner.PNB chairman,Mr.K C Chakrabarty has already announced that they may bid for the stake not as a standalone entity but as a part of a consortium.But the overall chances of merger of PNB with IFCI look difficult, predicts Ganesha.

Ganesha's Grace,
Dharmesh Joshi
The GaneshaSpeaks Team