Home / Companies / News / Punjab National Bank reports fraud of Rs 3,688.58 cr in DHFL account

Punjab National Bank reports fraud of Rs 3,688.58 cr in DHFL account

The bank has already made provisions amounting to Rs 1,246.58 crore, as per prescribed prudential norms, it added

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After alleged violations in the company came to light last year, various agencies, including SFIO, had initiated probe.

1 min read Last Updated : Jul 09 2020 | 11:29 PM IST

State-owned Punjab National Bank on Thursday said it has reported a fraud of Rs 3,688.58 crore in NPA account of Dewan Housing Finance Ltd (DHFL) to the RBI.

The DHFL came in the eye of the storm after a report suggested that the company, through layers of shell companies, allegedly siphoned off Rs 31,000 crore out of total bank loans of Rs 97,000 crore.

"A fraud of Rs 3,688.58 crore is being reported by Bank to RBI in the accounts of the Company (DHFL)," PNB said in a stock exchange filing.

The bank has already made provisions amounting to Rs

Topics : Punjab National Bank Reserve Bank of India RBI Dewan Housing Finance DHFL

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