Punjab & Sind Bank declares SREI group's outstanding dues as fraud

Punjab & Sind Bank has announced that the NPA Accounts, viz. M/s SREI Infrastructure Finance Limited (SIFL) with outstanding dues of Rs.510.16 crore and M/s SREI Equipment Finance Limited (SEFL) with outstanding dues of Rs. 724.18 crore have been declared as fraud and reported to RBI today as per regulatory requirement. Further, the accounts have been fully provided for as per prescribed prudential norms.

Shares of Punjab & Sind Bank was last trading in BSE at Rs. 16.70 as compared to the previous close of Rs. 16.80. The total number of shares traded during the day was 21859 in over 189 trades.

The stock hit an intraday high of Rs. 17.00 and intraday low of 16.50. The net turnover during the day was Rs. 367149.00.

Source : Equity Bulls

Keywords

PunjabandSindBank INE608A01012 NPAAccounts SREIGroup Fraud RBI