PNB Housing Finance net profit rises 36% to Rs 2.2 billion
Posted on 4th May 2018 |
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PNB Housing Finance has posted growth of 36 per cent in its net profit to Rs 2.2 billion in the March quarter from Rs 1.5 billion during the corresponding quarter of the previous financial year. On an annual basis, the housing company’s net profit increased 58 per cent to Rs 8.3 billion at the end of 2017-18, from Rs 5.23 billion at the end of 2016-17. |
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Punjab National Bank eyes 11% growth in total business to Rs 12 trillion
Posted on 2nd May 2018 |
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Punjab National Bank (PNB) on Tuesday said it is eyeing an 11 per cent growth in its total business to Rs 12 trillion in the current fiscal year, despite being hit by a Rs 140 billion fraud four months ago. “The guidance from PNB leadership for financial year 2018-19 is total business of Rs 12 trillion, which will account for 10.8 per cent year-on-year growth,” PNB said in a press statement. The bank’s total business stood at over Rs 10 trillion in 2017-18. |
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PNB impounds passports of 150 wilful defaulters
Posted on 21st April 2018 |
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NEW DELHI: Punjab National Bank (PNB), the country’s second-largest public sector lender + , has impounded passports of 150 wilful loan defaulters apart from lodging 37 FIRs against those who are not repaying loans as part of its recovery drive. “The bank has already declared 1,084 wilful defaulters and published photos of 260 such defaulters in newspapers,” the bank said in a statement. |
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CBI probing Surya Pharmaceuticals in Rs 6.2 billion bank fraud case
Posted on 18th April 2018 |
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Indian police have launched an investigation into a Delhi-based pharmaceutical company for allegedly defrauding state-run Punjab & Sind Bank and four other banks of 6.21 billion rupees ($94.57 million), police said. Investigation is continuing, Central Bureau of Investigation (CBI), the federal police, said in a statement on Tuesday. The CBI said the searches were conducted at seven locations and recovered some documents. |
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PNB scam: India awaiting Hong Kong response on Nirav Modi
Posted on 13th April 2018 |
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India is awaiting response from Hong Kong authorities on its request for provisional order of arrest of diamond merchant Nirav Modi, wanted in connection with the PNB loan fraud. Spokesperson of the Ministry of External Affairs, Raveesh Kumar, said India has requested the Hong Kong authorities to surrender Modi, based on the extradition agreement for surrender of fugitive offenders signed between the two sides in 1997. |
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SIT probe into PNB scam? Supreme Court to hear plea today
Posted on 9th April 2018 |
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The Supreme Court will hear petition filed by a lawyer seeking SIT investigation into the alleged Rs 13,000 crore Punjab National Bank (PNB) scam on Monday, ANI reported. Already, non-bailable warrants (NBW) have been issued against prime accused billionaire diamond merchant Nirav Modi and his uncle and co-accused Mehul Choksi by the Central Bureau of Investigation on Sunday. A special court in Mumbai had issued warrants against the two yesterday. |
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After Rs 13,000 crore scam, PNB says customers' money is safe
Posted on 3rd April 2018 |
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Facing heat over nearly Rs 13,000 crore scam, Punjab National Bank today said money of customers is safe and asserted that there would be zero tolerance towards unethical practices. Urging customers not to believe in any rumours, the bank assured that they can withdraw or deposit their money anytime. |
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Banking scam fallout: RBI may let PNB spread fraud losses over 1 year
Posted on 28th March 2018 |
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The Reserve Bank of India (RBI) had agreed in principle to a request by Punjab National Bank (PNB) to spread its losses related to the Nirav Modi-Mehul Choksi fraud over four quarters, sources said. “However, we are still awaiting a written communication from the regulator,” a source at the Delhi-based public sector bank said. |
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Government says ED analysing 120 shell companies in PNB fraud case
Posted on 24th March 2018 |
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The Directorate of Enforcement (ED) is analysing 120 shell companies in connection with the Punjab National Bank (PNB) fraud allegedly committed by jewellery designer Nirav Modi, the government said today. The state-owned PNB has been defrauded of over $2 billion by fraudulent use of Letters of Undertaking (LoUs) allegedly by Nirav Modi and his associates. |
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