Scam-hit PNB nets Rs 1.5 billion in FY18 as below minimum balance penalty
The bank charged Rs 320 million as penalty in the first quarter of FY18, Rs 290 million in the second, Rs 370 million in the third and Rs 530 million in the fourth quarter.
 "Scam-hit PNB nets Rs 1.5 billion in FY18 as below minimum balance penalty")
Punjab National Bank (PNB) has collected Rs 1.51 billion as penalty from its customers during the last financial year for not keeping minimum balance in savings accounts, reveals an RTI query.
"During 2017-18, a total penalty of Rs 1.51 billion has been recovered due to non-maintenance of minimum balance in 122,98,748 savings fund accounts," PNB replied in response of a query filed by RTI activist Chadra Shekhar Gaud.
The bank charged Rs 320 million as penalty in the first quarter of FY18, Rs 290 million in the second, Rs 370 million in the third and Rs 530 million in the fourth quarter, PNB said in the RTI reply.
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