PNB Punjab National Bank (PNB) Tuesday reported a fraud of Rs 2,060 crore in the NPA account of IL&FS Tamil Nadu Power Company Limited (ITPCL).
Taking this into account, the bank has already made provisions amounting to Rs 824.1 crore as per prescribed prudential norms, PNB said.
PNB said in a regulatory filing: “A fraud of Rs. 2060.14 crore is being reported by Bank to RBI in the accounts of the Company. Bank has already made provisions amounting to Rs 824.06 Crore, as per prescribed prudential norms.”
"It is informed that an NPA account, viz IL&FS Tamil Nadu Power Company Ltd with outstanding dues of Rs 148.86 crore has been declared as fraud and reported to RBI today as per regulatory requirement," the lender said in a regulatory filing.
Exactly a month ago, in February, Punjab & Sind Bank had declared IL&FS Tamil Nadu a fraud account with outstanding dues of Rs 148 crore, media reports said.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
