PNB Hit by Another Scam, Reports Rs 2,060-Cr Fraud by Tamil Nadu Company, Details Here

The Punjab National Bank (PNB) has reported a borrowal fraud of Rs 2060.14 crore in the non-performing account (NPA) of IL&FS Tamil Nadu Power at the Extra Large Corporate Branch in Delhi zonal office.

The bank has already made provisions amounting to Rs 824.06 crore, as per prescribed prudential norms.

"A fraud of Rs 2060.14 crore is being reported by the bank to the RBI in the accounts of the company. The bank has already made provisions amounting to Rs 824.06 crore, as per prescribed prudential norms," the state-owned lender said in a disclosure.