On the assets front, bank's gross non-performing assets fell to 16.49 per cent of gross advances at end of June 2019, as against 18.26 per cent of gross advances at end of June 2018.
Public sector lender Punjab National Bank said Saturday it has detected a fraud of more than Rs 3,800 crore by Bhushan Power & Steel Ltd (BPSL) and has reported it to the Reserve Bank of India (RBI).
The Debt Recovery Tribunal here on Saturday directed fugitive diamond merchant Nirav Modi, who is currently lodged in a London prison, and his aides to pay more than Rs 7,200 crore with interest to the defrauded Punjab National Bank.
The beleaguered public sector Punjab National Bank (PNB) has admitted to 1,142 big and small defaulters all over India who have defaulted a stupendous Rs 25,090.3 crore.
PNB Scam case: The Royal Courts of Justice in London denies bail to Nirav Modi. This was Nirav Modi's fourth bail application at the UK court which was refused.
UK high court to deliver judgment on Nirav Modi's bail appeal today
The central bank alleged that the accused willfully and deliberately gave false information in their compliance report and the PNB's core banking system was not integrated with the applications and there was no online integration of SWIFT with the RBI's Core Banking Solution.
According to a report, the airline has raised loan worth Rs 1,100 crore and a non-fund based credit facility of Rs 950 crore from PNB.
So far this fiscal year, the once-second largest lender had made recoveries worth Rs 16,600 crore from bad loans.
PNB, which which was involved in a Rs 14,356-crore scam by Nirav Modi, had reported net profit of Rs 230.11 crore for the corresponding quarter a year ago.
The PNB has intimated the action to the stock exchanges on Friday.
Its total income during the September quarter of 2018-19 declined to Rs 14,035.88 crore as against Rs 14,205.31 crore in the year-ago period, PNB said in a BSE filing.
ED seizes worth Rs 220 crore property of PNB bank scam accused Nirav Modi and Mehul Choksi
Railways Minister Sheikh Rasheed Ahmad said that the share of the China-Pakistan Economic Corridor (CPEC) in the railways has been reduced from USD 8.2 billion to USD 6.2 billion.
ED attaches properties and bank accounts worth Rs 637 crore in Nirav Modi case
The injured guards were rushed to a local hospital, however, they succumbed to their injuries.
All the allegations leveled by ED are false and baseless, says PNB scam accused Mehul Choksi
Bank's subsidiary PNB Investment Services Limited (PNBISL) has invited bids from merchant bankers on behalf of PNB to arrange for investors.
The bank hopes to recover Rs 136 crore dues by selling the three NPA accounts- Gwalior Jhansi Expressways, SVS Buildcon Pvt Ltd and Shiva Texfabs Ltd.
“The bank has sold its entire stake of 3,30,000 shares of Icra Ltd through block deal at exchange platform for gross sale consideration of Rs108.60 crore on June 28, 2018,” the bank said in a regulatory filing.
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