Page 23 - Punjab National Bank

CBI books VMC Systems in Rs 17-bn bank fraud case on complaint from PNB

According to the complaint by the PNB, the company defaulted on repayment of loans worth over Rs 17 billion to a consortium of banks

PNB board approves proposal to seek Rs 54-bn capital support from govt

The finance minister Tuesday committed capital support to banks after meeting heads of public sector lenders

After Jaitley's promise, PNB plans to ask govt for Rs 54-bn infusion

The finance minister committed capital support to banks after meeting heads of public sector lenders

Dues owed to PNB by big willful defaulters fall by 1.8% to Rs 151.75 bn

Liabilities of big willful defaulters of scam-hit Punjab National Bank (PNB) fell by 1.8 per cent to Rs 15,175 crore by July-end over the previous month, according the state-run's bank data. Big willful defaulters are those who took loans of over Rs 25 lakh from the bank. Such borrowers had an outstanding of Rs 15,355 crore at end of June this year. Among major defaulters who took loans solely from PNB included Winsome Diamonds & Jewellery Rs 899.70 crore; Forever Precious Jewellery & Diamonds Ltd Rs 747.97 crore; Zoon Developers Rs 410.18 crore; Shree Sidhbali Ispat Rs 165.98 crore; Ramsarup Nirmaan Wires Rs 148.10 crore; S Kumar Nationwide Rs 146.82 crore. Among others were Ramsarup Industrial Corporation Rs 133.20 crore; Ramsarup Lohh Udyog Rs 129.34 crore; Mahuaa Media Rs 104.86 crore; KG Corporation Rs 98.92 crore and Vishal Exports Overseas Rs 98.39 crore. Those who borrowed money through a consortium lending from several banks were Kudos Chemie Rs 1,301.82 crore, ...

PNB seeks shareholders' nod to issue 100 million shares to its employees

In June, the bank's board of directors cleared issuance of up to 100 million new shares

Scam-hit PNB in talks with govt agencies to sell old Delhi headquarters

The lender expects to raise nearly Rs 7-8 billion from the sale of its earlier head office in New Delhi

At Rs 9.4 bn, PNB posts straight quarterly loss on fraud-related provisions

As a result of higher recovery, the bank's net NPA declined to 10.58% in Q1 from 11.24% in the previous quarter and gross NPA shrunk to 18.26% against 18.38% of its loans

Lead bank must play key role for quick decisions, says PNB MD Sunil Mehta

Bankers will have to start making effort to resolve the assets before going to NCLT. If we start referring every issue to NCLT, it will also get clogged

PNB opens second loan processing centre in Mumbai to boost recovery

Bank's first CLPC is located at Connaught Place branch in New Delhi

PNB's big wilful defaults fall to Rs 153 bn in June; improve 0.87% over May

PNB suffered a standalone net loss of Rs 122.82 billion in 2017-18, as against a profit of Rs 13.24 billion in 2016-17

PNB denies reports of shutting down fraud-hit Brady House branch in Mumbai

PNB's Brady House branch in Mumbai had fraudulently issued LoUs for the group of companies belonging to Nirav Modi since March 2011

PNB sets up centralised loan processing centre to improve quality credit

This will ensure improved turn-around-time, separate Pre- and Post-sanction responsibility and enable qualitative credit assessment

ED seeks Nirav Modi's extradition in PNB scam, moves Mumbai court

It is understood that the extradition has been sought by the agency from the UK, Belgium and a few other countries

Wilful defaults by PNB's big borrowers rise by 2% in May to Rs 154.90 bn

PNB suffered a standalone net loss of Rs 122.82 billion in 2017-18, as against a profit of Rs 13.24 billion in 2016-17

Hong Kong Monetary Authority enhances supervision of PNB's HK branch

This branch is also required to maintain a position of "net due to" its head office

PNB to raise Rs 130 bn via stake sale in subsidiaries, bad loans' recovery

The bank also plans to sell its property at Bhikaji Cama Place in New Delhi

PNB hikes MCLR by 0.05-0.10% for select tenors with effect from June 1

The state-owned lender said that the base rate has also been revised to 9.25 per cent from 9.15 per cent with effect from June 1, 2018

Fraud-hit PNB stock is a dud investment, caution analysts

The results have made analysts cautious on public sector banks (PSBs) that are saddled with a large quantum of non-performing assets (NPAs)

Fraud-hit PNB posts biggest ever quarterly loss of Rs 134.17 billion in Q4

Net NPAs were also soared to 11.24 per cent against 7.81 per cent a year ago

NPA provisioning to hit PNB results; to report loss of Rs 27 billion in Q4

Fraud-related provisioning besides RBI's new NPA rules to hit the bank sharply