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