Business News
Home > Business News
PNB admits staggering loan defaults of Rs 25,000-crore
TIWN
TIWN
PHOTO : TIWN
Mumbai, June 12 (TIWN) The beleaguered public sector Punjab National Bank (PNB) has admitted to 1,142 big and small defaulters all over India who have defaulted a stupendous Rs 25,090.3 crore.
Of these 1,142, the PNB has so far initiated recovery proceedings by filing suits against 1,108 defaulters to recover Rs 23,879.8 crore. However, no suits have been filed against the remaining 34 defaulters who owe the bank Rs 1,210.5 crore. As is mandatory, the RBI has been informed of the status of all these messy accounts -- some of them several years old and recoveries still pending from them -- as on March 31, 2019. The veritable 'hit-list' prepared by the country's second largest PSB covers all defaulters owing PNB Rs 25 lakh and above, through all its branches in all states, with the highest numbers emerging from Maharashtra, Punjab, Delhi, Chandigarh, Gujarat, Uttar Pradesh and West Bengal.Add your Comment
Comments (0)
More Business News
- Govt directs NCCF, NAFED to start buying 5 lakh tonnes of onion directly from farmers
- Adani Green Energy Gallery in UK to explore sustainable energy options to fight climate change
- Elon Musk thought that OpenAI would fail: Sam Altman
- India’s forex reserves surge for 3rd week in row to touch $642.5 billion mark
- DGCA imposes Rs 80 lakh fine on Air India for flight duty timing violations