New Delhi: The loss-making Punjab National Bank has suffered another setback. Punjab National Bank has informed RBI about the scam of Rs 2,062 crore with it. The bank has put the account of IL&FS Tamil Nadu Power Company Limited in NPA. PNB has shown a loss of Rs 2,062 crore in its account of RBI. However, the bank has said that it has started recovery of Rs 824.06 crore as per the set rules. About a month ago, Punjab and Sind Bank had termed the NPA account of IL&FS as a fraud. Now PNB has also admitted that a fraud of Rs 2,062 crore has happened with it.
According to the information, the non-banking finance company Infrastructure Leasing and Financial Service (IL&FS) had become a defaulter in the year 2018 because the projects in Limbo in which it had invested had failed. At that time (IL&FS) was in loss of about Rs 94,000 crore. It is worth noting that in the year 2018, the government replaced the old board and formed a new board for NBFCs. In this board, Uday Kotak of Kotak Mahindra Bank, Vineet Nair of Tech Mahindra, former SEBI Chief GN Bajpayee, former chairman of ICICI Bank GC Chaturvedi, former IAS officers Malini Shankar and Nand Kishore were included in the board.
So far no statement has come from RBI in this matter, but it is believed that there will definitely be a ruckus regarding this scam. To lift the banks facing the recession, the government and the RBI are making many efforts together, including the merger of banks. On the other hand, the bank is putting such a huge amount in NPA i.e. non-performing asset, which is definitely not a good sign for the economy.