Page 22 - Punjab National Bank
RBI fines PNB Rs 50 lakh for delay in reporting Kingfisher Airlines fraud
In a separate filing, Bank of Baroda said the RBI has imposed a fine of Rs 50 lakh on it for delay in reporting fraud in an account
 "RBI fines PNB Rs 50 lakh for delay in reporting Kingfisher Airlines fraud")
Punjab National Bank plans to raise Rs 5,000-crore equity capital
The decision in this regard was taken in the board meeting held Thursday, PNB said in a regulatory filing
 "Punjab National Bank plans to raise Rs 5,000-crore equity capital")
PNB detects Rs 3,800-cr fraud by Bhushan Power & Steel Ltd, reports to RBI
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). PNB said Bhushan Power & Steel Ltd misappropriated bank funds and manipulated its books of accounts to raise funds from consortium lender banks. "On the basis of forensic audit investigation findings and CBI filing FIR, on suo moto basis, against the company and its directors, alleging diversion of funds from banking system, a fraud of Rs 3,805.15 crore is being reported by bank to RBI," Punjab National Bank (PNB) said in a regulatory filing. "It has been observed that the company has misappropriated bank funds, manipulated books of accounts to raise funds from consortium lender banks. At present, the case is at NCLT which is in advance stage and the Bank expects good recovery in the account," PNB added. PNB said the bank has already made provisions amounting to Rs 1,932.47 crore,
PNB recovers Rs 20,000 cr in bad loans, doubles amount from last year
The bank suffered losses allegedly after jewellers Nirav Modi, Mehul Choksi and some bank employees collided to defraud PNB of about Rs 1,000 crore. The scam was unearthed in February 2018
India Ratings downgrades Punjab National Bank's Rs 67.5-bn AT1 bonds
The rating agency has affirmed the bank's overall long-term issuer rating at AA+ and the short-term issuer rating at A1+
 "India Ratings downgrades Punjab National Bank's Rs 67.5-bn AT1 bonds")
Punjab National Bank's FY20 aim: Find a page in investors' good books
Bank may need capital infusion; heavy write-offs cause heartburn
PNB could take control of OBC, Andhra Bank, Allahabad Bank: Reports
The govt has been trying to merge smaller regional state-run banks with better managed larger government-owned lenders as one way to reduce bad loans that stand at more than Rs 9 trn
PNB takes Tarapur Textiles Park to DRT for $13-million loan default
A PNB official said Tarapur Textile account had turned into a non-performing asset and PNBIL (PNB International Ltd) has initiated recovery proceedings against the borrower
 "PNB takes Tarapur Textiles Park to DRT for $13-million loan default")
Delhi court summons 11 top PNB officials for violating banking regulations
RBI said the accused willfully and deliberately gave false information in their compliance report
RBI imposes Rs 2-cr penalty on PNB for non-compliance of SWIFT operations
Earlier this year, the RBI had imposed penalties worth Rs 71 crore on 36 public, private and foreign banks
Why PNB's stock may not regain Street's confidence anytime soon
While Q3 numbers revealed some improvement in asset quality, the bank lags peers on this parameter
PNB aims to recover Rs 10,000 crore from bad loans in March quarter
State-run Punjab National Bank, which returned to the black in the December quarter with a modest profit after three successive quarters of massive losses, has set a target of recovering Rs 10,000 crore from bad loans in the March quarter. So far this fiscal year, the once-second largest lender had made recoveries worth Rs 16,600 crore from bad loans, the lender said. The New Delhi-based bank, which was hit hard by the Rs 14,000-crore Nirav Modi-Mehul Choksi scam in February 2018, had Tuesday pencilled in a net profit of Rs 247 crore for the December quarter. "We expect a recovery of Rs 10,000 crore from NPAs in which include Rs 6,000 crore from Bhushan Power & Steel and Essar Steel (both at the NCLTs) in the current quarter," managing director and chief executive Sunil Mehta told reporters after an analysts meet here. He said the balance Rs 4,000 crore of the planned recovery will be from smaller accounts as well as from a few NCLT accounts. Mehta said the bank ...
PNB didn't misappropriate pension, gratuity funds, says Arun Jaitley
PNB has informed that these funds are duly audited by the bank's statutory central auditors every year, said Jaitley
Order allowing ED to attach firm's property mortgaged with PNB set aside
The PNB had approached the tribunal challenging the adjudicating authority's order allowing the ED to attach the company's properties mortagaged with the bank
PNB invites bids for two dozen bad loan accounts to recover Rs 11.79 bn
These 24 dud loan accounts are majorly concentrated in Mumbai, Delhi and Kolkata zones of the bank
PNB to raise Rs 5.39 bn through staff stock purchase scheme from Nov 30
The offer by Punjab National Bank will open on November 30 and close on December 10
Punjab National Bank issues EoI for stake sale in PNB Housing Finance
PNB owns 32.79 per cent stake in PNG Housing Finance
 "Punjab National Bank issues EoI for stake sale in PNB Housing Finance")
Still under water, PNB disappoints Street as credit cost weighs on earnings
In Q2, a 69% surge in provisions kept the bank in the red with reported net loss of Rs 45 bn
Fraud-hit Punjab National Bank logs 3rd straight quarterly loss at Rs 45 bn
The loss was much bigger than an estimated average loss of Rs 14.38 billion based on the views of 13 analysts
PNB hopes to realise Rs 86 bn by selling non-core assets: MD Sunil Mehta
PNB has already appointed the merchant bankers for sale of its asset in PNB Housing Finance Company
