[Mumbai]PNB Posts Largest Ever Quarterly Loss @ Rs 13416.91 Cr .
Nirav Modi has Carried out Fraud @ Rs 14357 Cr from this Bank .
PNB’s Senior Officers are Being Scanned by Various Departments.
The Punjab National Bank [PNB]today posted largest ever quarterly loss of Rs 13,416.91 crore for January-March period, mainly on account of high provisioning for bad loans.
It had reported stand alone profit of Rs 261.90 crore in the fourth quarter of 2016-17.
The total income for the fourth quarter also declined to Rs 12,945.68 crore, from Rs 14,989.33 crore in the year-ago period.
The Reserve Bank has permitted PNB to make provisions against the fraud amount.
The filing further said that the bank has made higher than required provisions amounting to Rs 7,178.42 crore.
The remaining provision of Rs 7,178.42 crore will be made during the first three quarters of the ensuing financial year.
Tag: PNB
PNB Posts Largest Ever Quarterly Loss @ Rs 13416.91 Cr
Banks Sealed 4-Star ‘Park Plaza Hotel for Non-Payment of Rs 130 Cr Loan
[Chandigarh] Banks Sealed 4-Star ‘Park Plaza Hotel for Non-Payment of Rs 130 Cr Loan
A four-star hotel in the heart of the Chandigarh city was today sealed by the bank officials over alleged non-payment of loan worth Rs 130 crore.
‘Park Plaza hotel’, located in upscale sector-17,was sealed by bank officials from Punjab National Bank+United Bank of India +State Bank of India with help of police force,
,As per police sources,The hotel management had deployed bouncers outside the hotel. However, after a three-hour-long ordeal, the hotel was sealed,
Acting on an application by the banks, the district administration had recently ordered taking possession of the hotel.
“Around 200 guests were asked to leave by the police,” a hotel employee said, adding “around 60 rooms of the hotel were booked”.
This has rendered jobless.250 staff members
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