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

Wednesday, June 12, 2019, 4:53 PM

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.
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11 Top PNB Officials Summoned For Alleged Violation Of Banking Regulation

Wednesday, March 27, 2019, 7:34 PM

Delhi court has summoned as accused 11 top-officials of PNB, including former and current executive officials and current managing director, for alleged violation of banking regulations and criminal conspiracy. The RBI has further alleged that accused willfully and deliberately made false statements in the compliance report despite being aware of the risks. In its complaint, the RBI has alleged non-compliance of its 2016 order.
 
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Carlyle seeks to double holding in PNB Housing Finance

Tuesday, December 18, 2018, 7:57 PM

Carlyle Group LP is seeking to double its holding in Indian mortgage lender PNB Housing Finance Ltd., people familiar with the matter said, reversing an earlier attempt to pare its stake in the company. Carlyle and PNB had earlier invited bids for their holdings in the mortgage financier, though the latter said in November that it would continue with the sale process independently.

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