PNB admits staggering loan defaults of Rs 25,000-crore

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 recoveryproceedings by filing suits against 1,108 defaulters to recover Rs 23,879.8crore.

   

However, no suits have been filed against the remaining 34defaulters who owe the bank Rs 1,210.5 crore.

As is mandatory, the RBI has been informed of the status ofall these messy accounts — some of them several years old and recoveries stillpending from them — as on March 31, 2019.The veritable ehit-list’ prepared by thecountry’s second largest PSB covers all defaulters owing PNB Rs 25 lakh andabove, through all its branches in all states, with the highest numbersemerging from Maharashtra, Punjab, Delhi, Chandigarh, Gujarat, Uttar Pradeshand West Bengal.

Leave a Reply

Your email address will not be published. Required fields are marked *

11 + 2 =