Punjab & Sind Bank reports fraud of Rs 94 crore in NPA account
Punjab & Sind Bank on Thursday reported a fraud of Rs 94.29 crore in an NPA account of Supertech Township Projects.
In a regulatory filing, the state-owned lender said it has reported the fraud to the Reserve Bank of India (RBI).
“…it is informed that an NPA Account, viz M/s Supertech Township Projects Limited with outstanding dues of Rs 94.29 crore has been declared as fraud and reported to RBI today as per regulatory requirement,” the Delhi-headquartered bank said.
The account has been fully provided for as per the existing RBI norms, it added.
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