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Punjab & Sind Bank Declares Loans Worth Rs 150 Cr To IL&FS Transportation As Fraud

It is informed that an NPA Account, viz IL&FS Transportation Network Limited (ITNL) with outstanding dues of Rs 149.98 crore has been declared as fraud and reported to the RBI as per regulatory requirement

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Public sector lender Punjab & Sind Bank on Tuesday said it has declared the account of IL&FS Transportation Network Ltd (ITNL) with total dues of Rs 149.98 crore as fraud.

The said account has been reported to the RBI.

It is informed that an NPA Account, viz IL&FS Transportation Network Limited (ITNL) with outstanding dues of Rs 149.98 crore has been declared as fraud and reported to the RBI as per regulatory requirement, Punjab & Sind Bank said in a filing.

Further, it said, the account has been fully provided for as per the existing RBI norms.

(PTI)