Punjab & Sind Bank declares IFIN NPA account as fraud

Punjab & Sind Bank has announced that an NPA Account, viz. M/s IL & FS Financial Services Limited (IFIN) with outstanding dues of Rs.561.13 crore has been declared as fraud and reported to RBI as per regulatory requirement. Further, Bank has already made 100% provisioning as per the prescribed prudential norms and account is technically written off.

Shares of PUNJAB & SIND BANK was last trading in BSE at Rs.10.88 as compared to the previous close of Rs. 10.8. The total number of shares traded during the day was 17438 in over 101 trades.

The stock hit an intraday high of Rs. 10.97 and intraday low of 10.55. The net turnover during the day was Rs. 187929.

Source : Equity Bulls

Keywords