Punjab & Sind Bank Declares Loans Worth Rs 150 Crore To IL&FS Transportation As Fraud
A Punjab & Sind Bank branch in New Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg)

Punjab & Sind Bank Declares Loans Worth Rs 150 Crore To IL&FS Transportation As Fraud

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Public sector lender Punjab & Sind Bank on Tuesday said it has declared the account of IL&FS Transportation Network Ltd. with total dues of Rs 149.98 crore as fraud.

The said account has been reported to the Reserve Bank of India.

It is informed that an NPA Account, viz ITNL with outstanding dues of Rs 149.98 crore has been declared as fraud and reported to the RBI as per regulatory requirement, Punjab & Sind Bank said in a filing.

Further, it said, the account has been fully provided for as per the existing RBI norms.

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