Bhubaneswar: Punjab National Bank (PNB) has reported a fraud of Rs 270.57 crore by Odisha-based Gupta Power Infrastructure Ltd to the Reserve Bank of India (RBI).
In a recent regulatory filing to the stock exchanges, the public sector bank reported a borrower fraud of ₹270.57 crore to the central bank in the Gupta Power Infrastructure Ltd’s non-performing asset (NPA) account. The loan was disbursed by the bank’s Station Square branch in Bhubaneswar, The Mint reported.
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The PNB has already made provisions for the full amount of Rs 270.57 crore as per the required prudential norms, it added.
This disclosure had put the spotlight on the state-run bank during the trading session.
