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PNB's big wilful defaulters' dues fall to Rs 15,354 crore in June
Posted on 9th July 2018
New Delhi: Dues from big wilful defaulters of Punjab National Bank fell by 0.87 per cent to Rs 15,354.52 crore on June 30 compared to previous month, the bank data has showed.

The data on big wilful defaulters is pertaining to those borrowers who took loan of Rs 25 lakh and above from the public sector lender.

PNB invites bids to sell 3 NPA accounts to recover dues worth Rs 136 crores
Posted on 7th July 2018
Punjab National Bank (PNB) has put on sale three non-performing assets to recover Rs 136 crore dues from the borrowers.

"We intend to place these accounts for sale to ARCs/ NBFCs/other banks/FIs on the terms and conditions stipulated in the bank's policy, in line with the regulatory guidelines," PNB said in the invite for expression.

PNB moves DRT against Nirav to recover Rs 7,000 crore
Posted on 4th July 2018
MUMBAI: Punjab National Bank moved the debts recovery tribunal (DRT) on Wednesday to recover Rs 7,000 crore which diamantaire Nirav Modi availed through “fraudulent letters of undertaking (LoUs)”.

The recovery plea comes within two days of Interpol issuing a red corner notice against Modi in the multi-crore PNB scam.

PNB to sell its 3.3% stake in Icra
Posted on 26th June 2018
Punjab National Bank (PNB) has put up for sale its 3.33% stake in ratings agency Icra, according to a sale document. The bank has appointed PNB Investment Services the merchant banker for the sale. The last date for submission of bids is June 27.

Nirav Modi applies for asylum in U.K., claims “political persecution”
Posted on 11th June 2018
Nirav Modi, the billionaire jeweller at the heart of a more than ₹13,578-crore Punjab National Bank (PNB) fraud case in India, has fled to the UK, where he is claiming political asylum, the Financial Times reported on Sunday, citing Indian and British officials.

Britain's Home Office said it does not provide information on individual cases. Nirav Modi could not be contacted by Reuters for comment on the FT report.

PNB Fraud: Directors of five dummy companies set up by Nirav Modi earned between Rs 8,000 and Rs 30,000
Posted on 6th June 2018
The Enforcement Directorate in its report against jeweller Nirav Modi have said that owners and directors of at least five firms based out of Hong Kong earned only between Rs 8,000 and Rs 30,000 every month, an Indian Express report has revealed.

Posted on 2nd June 2018
Fraud-hit Punjab National Bank plans to raise Rs 13,000 crore through stake sale in subsidiaries and recovery of bad loans by September-end, an official said on Friday.

The PSU lender, among other things, is planning to sell stake in its arm PNB Housing Finance where it holds 39.08%.

Punjab National Bank's FY19 plans fail to convince finance ministry
Posted on 26th May 2018
Unhappy with projections for 2018-19 made by Punjab National Bank (PNB) in a presentation, the finance ministry has asked the fraud-hit lender to give another presentation with “realistic numbers”, sources said. The department of financial services (DFS) held a meeting with the top management of PNB on Thursday, following fears that the bank may slip into the Reserve Bank of India’s (RBI’s) prompt corrective action (PCA).

Wilful defaults by PNB's borrowers rise to Rs 15,200 crore
Posted on 21st May 2018
State-run Punjab National Bank (PNB) saw wilful defaults by big borrowers growing further to Rs 15,199.57 crore in April this year over the previous month, soon after suffering a record loss of more than Rs 13,400 crore for January-March due to frauds and bad loans.

The bank which posted a record loss of more than Rs 13,400 crore for the last quarter of 2017-18 closed the fiscal with big wilful defaults of Rs 15,171.91 crore, according to the PNB data.

PNB fraud case: Bank employee got Rs 1 crore bribe in cheque, says CBI
Posted on 17th May 2018
MUMBAI: In the second chargesheet submitted in the Punjab National Bank (PNB) fraud case, the CBI has alleged that the bank’s retired deputy manager Gokulnath Shetty had received Rs 1 crore as illegal gratification for being part of the conspiracy.

The chargesheet alleged that the bribe amount was routed through one Debajyoti Dutta, proprietor of M/s Rishika Financials, now a witness in the case.

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