State-owned Punjab Nationwide Financial institution on Tuesday reported a fraud of Rs 270.57 crore by Odisha-based Gupta Energy Infrastructure Ltd to the Reserve Financial institution.
Borrowal fraud of Rs 270.57 crore has been reported to the Reserve Financial institution of India (RBI) in non-performing asset (NPA) account of Gupta Energy Infrastructure Ltd, PNB stated in a regulatory submitting.
The mortgage was given by Station Sq. department of the financial institution in Bhubaneswar, it stated.
The financial institution has already made provisions amounting to Rs 270.57 crore, in keeping with prescribed prudential norms.
For the December quarter, PNB posted greater than two-fold soar in internet revenue to Rs 4,508 crore as in opposition to Rs 2,223 crore in the identical quarter a 12 months in the past. The corporate’s complete revenue elevated to Rs 34,752 crore from Rs 29,962 crore in the identical interval a 12 months in the past, PNB stated in a regulatory submitting.
Curiosity revenue additionally rose to Rs 31,340 crore from Rs 27,288 crore in the identical quarter a 12 months in the past.
On the asset high quality entrance, the financial institution’s gross non-performing belongings ratio moderated to 4.09 per cent from 6.24 per cent a 12 months in the past.
