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New Delhi: Punjab National Bank (PNB) has declared a Rs 2,434 crore alleged loan fraud by the former promoters of Srei Equipment Finance and Srei Infrastructure Finance. In a late evening exchange filing, the state-run PNB said that “Pursuant to the applicable provisions of SEBI (LODFR) Regulations, 2015 and the Bank’s Policy for determining materiality…
Last Updated:December 27, 2025, 04:28 IST The bank clarified that it has already made 100 per cent provisions for the entire outstanding amount The current fraud classification by PNB follows forensic audits—conducted by firms such as KPMG—that flagged irregularities including the siphoning of funds through “related-party transactions’ and the ‘evergreening’ of loans to mask non-performing…
Senior citizens prefer doing fixed deposits (FDs) over any other investment plans. This is because of a few reasons, like they get better interest rates than savings accounts, their money is safe, they don’t need to worry about markets, get income tax benefits, among others. They also get payouts on a monthly or quarterly basis…
Last Updated:September 27, 2025, 06:15 is The court granted the pardon under legal provisions that allow an accused to be forgiven in exchange for agreeing to disclose all known facts related to the crime Fugitive Nirav Modi, founder and creative director of a luxury diamond jewellery brand, is expected to be extradited to India soon….
Senior citizens get a slightly higher interest rate on FDs than general citizens. However, the rate of interest varies from bank to bank and depends on various factors, including tenure. Because of their guaranteed return feature, FDs are considered the safest type of investment, and they are very popular among senior citizens. They have different…
New Delhi: Punjab National Bank’s (PNB) net profit for the quarter ended June 30 stood at Rs 1,675 crore, down 49 per cent year-on-year, according to its stock exchange filing on Wednesday. The public sector lender had posted a net profit of Rs 3,251 crore in the same quarter last year (Q1 FY25) and Rs…
New Delhi: Good news for bank customers! Several major public sector banks in India have scrapped the requirement to maintain an Average Monthly Balance (AMB) in savings accounts. This move comes as a big relief for account holders, especially those struggling to meet the minimum balance rules. What is Average Monthly Balance (AMB)? Average Monthly…
FDs are a traditional way of investment, and most individuals choose this way to have a regular income for their living. Moreover, the principal amount remains safe in the FD. But, do you know that some small finance banks provide a better interest rate on savings accounts than leading PSU banks’ fixed deposits? In this…
New Delhi: Punjab National Bank (PNB) Saving Account Holders ALERT! If you are also among several PNB consumers who have query as to why the bank has deducted Rs 295 from your savings accounts and the same was not credited back, the reason could be a simple oversight on your behalf. You might have also…
In a daring robbery early this morning, thieves looted a Punjab National Bank (PNB) ATM in Sri Ganganagar, Rajasthan. The criminals uprooted the machine and sprayed the security camera before making off with the cash. Authorities have launched a search operation and set up a blockade in the area as they investigate the heist, which…