Punjab & Sind Bank reports NPA account as fraud to RBI; Stock trades flat

The Bank reported borrower fraud of Bank's Exposure in Lanco Infratech involving a total amount of Rs215.17cr.

Jun 17, 2021 10:06 IST India Infoline News Service

Punjab and Sind Bank
Punjab & Sind Bank informed the exchanges Wednesday that an NPA Account, viz. Mis Lanco Infratech Limited with outstanding dues of Rs215.17cr has been declared as fraud and reported to RBI today as per regulatory requirements.

It further said that the account has been fully provided for as per existing RBI norms.

At around 10.41 AM, Punjab & Sind Bank was trading flat at Rs20 per piece on the BSE.

The scrip opened at Rs19.90 and has touched a high and low of Rs20.10 and Rs19.55 respectively during intraday trade on Thursday. 

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