The PNB has announced that it will close all such accounts with no activity for the past three years and no balance, unless the Know Your Customer (KYC) process is completed by May 31, 2024. After this date, no further notice will be given to account holders.
The Central Bureau of Investigation (CBI) has lodged a case against IL&FS Transportation Network Ltd and its directors on charges of defrauding 19 banks of Rs 6,524 crore between 2016 and 2018.
During a virtual press briefing on Friday, Atul Kumar Goel, Managing Director and Chief Executive Officer, PNB, said, "We don't have any exposure to Go First Airlines."
The 63-year-old fugitive is wanted in India in connection with a Rs 13,500-crore fraud in the Punjab National Bank (PNB).
Binod Kumar is a Graduate of Science from Ranchi University and holds Post Graduate Diploma in Banking & Finance from NIBM, a Financial Risk Manager (FRM) from GARP (USA), and a Certified Associate Member of the Indian Institute of Bankers (CAIIB).
PNB Housing had said that its current capitalisation level was adequate. The company also said it was planning to raise capital to achieve its target growth and would soon present the proposal to the board. The PNB Housing Finance stock was trading 3.76 per cent down at Rs 681.50 during afternoon on Thursday on the BSE.
The court is hearing the extradition case of Nirav Modi in the $1 billion Punjab National Bank (PNB) fraud and money laundering case.
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The airline owes the largest chunk to its lenders at over Rs 7,000 crore (Rs 7,251 crore).
Official sources in the Finance Ministry said that banks have informed the ministry that they were not ready to wait endlessly to restore health of the beleaguered airline and if attempts to bring in a strategic investor fails or is not completed by June 30, lenders may immediately initiate bankruptcy proceedings against Jet.
