 "PNB, Punjab National Bank")
Don't want to miss the best from Business Standard?
State-owned Punjab National Bank on Tuesday reported a fraud of Rs 270.57 crore by Odisha-based Gupta Power Infrastructure Ltd to the Reserve Bank.
Borrowal fraud of Rs 270.57 crore has been reported to the Reserve Bank of India (RBI) in non-performing asset (NPA) account of Gupta Power Infrastructure Ltd, PNB said in a regulatory filing.
The loan was given by Station Square branch of the bank in Bhubaneswar, it said.
The bank has already made provisions amounting to Rs 270.57 crore, according to prescribed prudential norms.
For the December quarter, PNB posted more than two-fold jump in net profit to Rs 4,508 crore as against Rs 2,223 crore in the same quarter a year ago.
Also Read
 "Mehul Choksi")
 "Ashok Chandra, CEO & MD, Punjab National Bank (PNB)")
 "Punjab National Bank PNB")
The company's total income increased to Rs 34,752 crore from Rs 29,962 crore in the same period a year ago, PNB said in a regulatory filing.
Interest income also rose to Rs 31,340 crore from Rs 27,288 crore in the same quarter a year ago.
On the asset quality front, the bank's gross non-performing assets ratio moderated to 4.09 per cent from 6.24 per cent a year ago.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
 "The aspirations of a young India and increased income levels have encouraged companies to consider mergers and acquisitions (M&A) to keep up with demand. In a world where consumer preferences change dramatically, M&As provide companies the means to r")
 "Information technology major Tata Consultancy Services (TCS) on Friday termed the tax demand notices received by several of its employees a “discrepancy,” and the tax department will be reprocessing the returns.")
 "Aiswarya Ravi, CFO, Kinara Capital")
 "Capgemini")
 "fertility clinics")
