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Punjab & Sind Bank reports fraud of Rs 94.29 crore in NPA account

22 Jan 2021 Evaluate

Punjab & Sind Bank has reported a fraud of Rs 94.29 crore in an NPA account of Supertech Township Projects to Reserve Bank of India (RBI). The account has been fully provided for as per the existing RBI norms.

Punjab & Sind Bank’s primary business is taking deposits, and making advances and investments, and is principally divided into retail banking, corporate banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance, distribution of mutual funds and pension and tax collection services.

Peers
Company Name CMP
State Bank Of India 957.00
PNB 120.35
Bank Of Baroda 231.00
Canara Bank 116.40
Union Bank Of India 178.50
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