PNB collects Rs 151.66 cr as below minimum balance penalty in FY18, reveals RTI query
6 years, 8 months ago

PNB collects Rs 151.66 cr as below minimum balance penalty in FY18, reveals RTI query

Firstpost  

The bank charged Rs 31.99 crore as a penalty in the first quarter of FY18, Rs 29.43 crore in the second, Rs 37.27 crore in the third and Rs 52.97 crore in the fourth quarter, PNB said in the RTI reply Indore: The Punjab National Bank has collected Rs 151.66 crore as penalty from its customers during the last financial year for not keeping a minimum balance in 1.23 crore savings accounts, reveals an RTI query. “During the FY 2017-18, a total penalty of Rs 151.66 crore has been recovered due to non-maintenance of minimum balance in 1,22,98,748 savings fund accounts,” PNB replied in the response of a query filed by RTI activist Chandra Shekhar Gaud. The bank charged Rs 31.99 crore as a penalty in the first quarter of FY18, Rs 29.43 crore in the second, Rs 37.27 crore in the third and Rs 52.97 crore in the fourth quarter, PNB said in the RTI reply. Economist Jayantilal Bhandari questioned the role of public sector banks especially in this case, saying, “On one hand, the government is running a campaign to associate more and more people with the banking system, while on the other hand, public sector banks are charging the saving accounts for not keeping a minimum balance.” Bhandari urged the Reserve Bank of India to immediately review the rates of this penalty, being recovered by banks, in the interests of savings account holders of the poor and middle classes.

Penalty Bank Crore Rti Pnb Minimum Balance Fy18  cr  query  reveals  penalty  pnb  banks  quarter  savings  crore  minimum  collects  bank  fy18  rti  rs

History of this topic

RBI imposes over Rs 60 lakh penalty on these two banks: Check names and reason
1 month, 1 week ago

RBI imposes over Rs 60 lakh penalty on these two banks: Check names and reason

India TV News  

The Reserve Bank of India has imposed penalties totalling Rs 68.1 lakh on Nainital Bank and Ujjivan Small Finance Bank for violations of regulatory norms. According to an official statement released on Friday, Nainital Bank Ltd faced a penalty of Rs 61.40 lakh for non-compliance with RBI’s guidelines on ‘Interest Rate on Advances’ and ‘Customer Service in Banks’. Further, RBI …

PNB Q3 profit more than doubles to ₹4,508 cr helped by core income
1 month, 3 weeks ago

PNB Q3 profit more than doubles to ₹4,508 cr helped by core income

Live Mint  

New Delhi, Jan 31 State-owned Punjab National Bank on Friday posted more than twofold jump in net profit at ₹4,508 crore for the third quarter ended December 2024 aided by decline in bad loans and increase in core income. Net Interest Income increased to ₹11,032 crore in Q3 FY25 from ₹10,293 crore in Q3 FY24, showing an improvement of 7.2 …

RBI imposes penalty on IndusInd Bank for regulatory compliance deficiencies
3 months ago

RBI imposes penalty on IndusInd Bank for regulatory compliance deficiencies

Hindustan Times  

A penalty of ₹27.30 lakh has been imposed on IndusInd Bank for non-compliance with certain provisions of norms related to 'interest rate on deposits', the Reserve Bank said on Friday. For failing to comply with specific rules pertaining to "interest rate on deposits," IndusInd Bank has been fined ₹ 27.30 lakh by the Reserve Bank. After considering the reply of …

RBI fines IndusInd Bank ₹27 lakh over non-compliance
3 months ago

RBI fines IndusInd Bank ₹27 lakh over non-compliance

Live Mint  

The Reserve Bank of India imposes a penalty of ₹27 lakh on IndusInd Bank for not complying with norms. “The Reserve Bank of India has, by an order dated December 18, 2024, imposed a monetary penalty of ₹27.30 lakh on IndusInd Bank Ltd. for non-compliance with certain provisions of ‘Reserve Bank of India Directions, 2016’,”the central bank said in statement …

RBI imposes 1.45 crore fine on Central Bank of India, 96.4 lakh fine on Bangladesh's Sonali Bank
9 months, 1 week ago

RBI imposes 1.45 crore fine on Central Bank of India, 96.4 lakh fine on Bangladesh's Sonali Bank

Hindustan Times  

The Reserve Bank of India imposed a fine of ₹1.45 crore on the Central Bank of India and ₹96.4 lakh on Sonali Bank PLC for non-compliance issues including loans and advances and Know Your Customer norms, PTI reported. Representational The Central Bank of India was fined ₹1.45 crore for sanctioning a working capital demand loan to a corporation against amounts …

RBI Imposes Rs 1.45-Crore Penalty on Central Bank of India; Details Here
9 months, 1 week ago

RBI Imposes Rs 1.45-Crore Penalty on Central Bank of India; Details Here

News 18  

The Reserve Bank of India on Friday, June 14, imposed a penalty of Rs 1.45 crore on Central Bank of India for non-compliance with certain RBI norms. “The Reserve Bank of India has, by an order dated June 11, 2024, imposed a monetary penalty of Rs 1,45,50,000 on Central Bank of India for non-compliance with certain directions issued by RBI …

Fiscal deficit for Apr-Feb hits 86.5% of FY24 target
11 months, 3 weeks ago

Fiscal deficit for Apr-Feb hits 86.5% of FY24 target

New Indian Express  

NEW DELHI: India’s fiscal deficit for April to February of FY24 reached Rs 15.01 lakh crore, representing nearly 86.5% of the target set for the full financial year, according to the government data. During the corresponding period in the previous year, the fiscal deficit was recorded at Rs 14.53 lakh crore. As of February 2024, the Government of India has …

RBI imposes fine on 3 banks for non-compliances, check details
1 year, 2 months ago

RBI imposes fine on 3 banks for non-compliances, check details

Live Mint  

The Reserve Bank of India on 12 January imposed monetary penalties, of varying degrees, against ESAF Small Finance Bank, Dhanlaxmi Bank, and Punjab and Sind Bank over various non-compliances. A penalty of ₹1.20 crore has been slapped on Dhanlaxmi Bank for non-compliance with certain directions on 'Loans and Advances – Statutory and Other Restrictions', KYC, and certain norms related to …

Deposits in TS banks rise by Rs 52,153 crore
1 year, 2 months ago

Deposits in TS banks rise by Rs 52,153 crore

Deccan Chronicle  

Hyderabad: Total deposits in banks in Telangana state grew by Rs 52,153 crore during the first half of this fiscal, totalling Rs 735,159.54 crore. During April-September, banks disbursed short-term production loans amounting to Rs 35,023 crore achieving 79.48 per cent of the annual targets. Banks disbursed education loans to the tune of Rs 396 crore and housing loans amounting to …

PNB Q2 net profit jumps 327% to ₹1,756 crore; NII rises 20% YoY
1 year, 4 months ago

PNB Q2 net profit jumps 327% to ₹1,756 crore; NII rises 20% YoY

Live Mint  

PNB Q2 Results: Punjab National Bank, the state-run lender, reported a sharp jump of 327% in its net profit for the second quarter of FY24 led by lower provisions. PNB’s net profit in Q2FY24 surged to ₹1,756 crore from ₹411.3 crore in the same quarter last year. PNB’s net interest income during the July-September 2023 quarter rose 20% to ₹9,923 …

Government's total liabilities rise 2.6% to ₹150.95 lakh crore in Q3 FY23: Report
1 year, 11 months ago

Government's total liabilities rise 2.6% to ₹150.95 lakh crore in Q3 FY23: Report

The Hindu  

The government's total liabilities rose to ₹150.95 lakh crore in December quarter from ₹147.19 lakh crore in the three months ended September 2022, according to the latest public debt management report. In absolute terms, the total liabilities, including liabilities under the 'Public Account' of the government, jumped to ₹1,50,95,970.8 crore at the end of December 2022. The report released by …

Budget 2023 | Govt to borrow record ₹15.4 lakh crore in FY24 to bridge revenue gap
2 years, 1 month ago

Budget 2023 | Govt to borrow record ₹15.4 lakh crore in FY24 to bridge revenue gap

The Hindu  

The government plans to borrow a record ₹15.4 lakh crore from dated securities in FY24 to meet its expenditure requirement to prop up the economy. Finance Minister Nirmala Sitharaman while presenting the Budget on February 1 said the net market borrowings from dated securities are estimated at ₹11.8 lakh crore to finance the fiscal deficit in 2023-24. The gross market …

Banks write off loans worth Rs 11.17 lakh crore in last 6 years
2 years, 3 months ago

Banks write off loans worth Rs 11.17 lakh crore in last 6 years

Deccan Chronicle  

NEW DELHI: Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday. "As per RBI data, public sector banks and scheduled commercial banks wrote off an aggregate amount of Rs 8,16,421 crore and Rs 11,17,883 crore respectively during the last six financial years," …

RBI imposes Rs 1 cr penalty each on Kotak Mahindra Bank, IndusInd Bank
2 years, 8 months ago

RBI imposes Rs 1 cr penalty each on Kotak Mahindra Bank, IndusInd Bank

India TV News  

Highlights The RBI has also imposed penalties on four co-operative banks Kotak Mahindra Bank has been penalised for contravention of certain norms IndusInd Bank has been penalised for non-compliance with certain KYC norms RBI on Monday said it has imposed penalties of about Rs 1 crore each on Kotak Mahindra Bank and IndusInd Bank for deficiencies in regulatory compliance. A …

PNB Interest Rates: Punjab National Bank Cuts Interest Rate on Savings Accounts; Details
2 years, 11 months ago

PNB Interest Rates: Punjab National Bank Cuts Interest Rate on Savings Accounts; Details

News 18  

The Punjab National Bank, or PNB, has cut down the interest rates on its savings accounts, in a disappointing news to the lender’s customers. The public sector bank has said for those bank accounts with less than Rs 10 lakh balance, the interest rates have been lowered to 2.70 per cent per annum. In February, the public sector lender had …

RBI imposes penalty on PNB, ICICI Bank | Here's why
3 years, 3 months ago

RBI imposes penalty on PNB, ICICI Bank | Here's why

India TV News  

Punjab National Bank and ICICI Bank were fined with a penalty of Rs. In a statement, the RBI said the Statutory Inspection for Supervisory Evaluation of Punjab National Bank was conducted by it with reference to its financial position as of March 31, 2019. In the case of the ICICI Bank, the RBI said the statutory inspection for supervisory evaluation …

December Alert: For pensioners, investors, salaried employees and credit cardholders
3 years, 3 months ago

December Alert: For pensioners, investors, salaried employees and credit cardholders

Live Mint  

The first day of every month usually brings changes. SBI Credit Card EMI Transaction Expensive Customers purchasing products on SBI’s credit card EMI facility is going to become expensive from 1 December 2021. PNB revises savings account interest rates Punjab National Bank has announced its decision to cut the savings account interest rate from 1 December 2021. PNB has reduced …

Reserve Bank of India imposes Rs 1 crore penalty on Union Bank of India
3 years, 3 months ago

Reserve Bank of India imposes Rs 1 crore penalty on Union Bank of India

Firstpost  

Last week, RBI imposed a monetary penalty of Rs 1 crore on the State Bank of India for contravention of a provision in the Banking Regulation Act, 1949 The Reserve Bank of India on Monday imposed a monetary penalty of Rs 1 crore on state-owned Union Bank of India for deficiencies in regulatory compliance. The banking regulator, in a statement, …

RBI imposes Rs 1 crore penalty on SBI over non-compliance
3 years, 5 months ago

RBI imposes Rs 1 crore penalty on SBI over non-compliance

India TV News  

The Reserve Bank of India on Monday said it has imposed a penalty of Rs one crore on the State Bank of India for non-compliance with the directions contained in ‘Reserve Bank of India directions 2016. "This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement …

RBI imposes Rs 30 lakh penalty on Pune-based Janata Sahakari Bank
3 years, 5 months ago

RBI imposes Rs 30 lakh penalty on Pune-based Janata Sahakari Bank

India TV News  

The Reserve Bank of India has imposed a penalty of Rs 30 lakh on Janata Sahakari Bank Ltd, Pune for non-compliance with certain directions. The penalty has been imposed for non-compliance with specific directions issued by RBI under the Supervisory Action Framework and RBI directions on 'Frauds in UCBs: Changes in Monitoring and Reporting mechanism'. The statutory inspection of the …

RBI imposes Rs 14.5 crore penalty on State Bank of India, 13 other banks
3 years, 8 months ago

RBI imposes Rs 14.5 crore penalty on State Bank of India, 13 other banks

India TV News  

The Reserve Bank of India on Tuesday imposed a monetary penalty on fourteen banks, including the State Bank of India and Bank of Baroda for violation of various rules. As per an official release, the violence includes non-compliance with certain provisions of directions issued by RBI on 'Lending to Non-Banking Financial Companies ', 'Bank Finance to Non-Banking Financial Companies ', …

RBI imposes Rs 6 crore penalty on Bank of India, Punjab National Bank
3 years, 9 months ago

RBI imposes Rs 6 crore penalty on Bank of India, Punjab National Bank

India TV News  

The RBI on Monday imposed penalty aggregating to Rs 6 crore on Bank of India and Punjab National Bank for contravention of norms, including one related to "Frauds – Classification and Reporting". A penalty of Rs 4 crore has been imposed on Bank of India and Rs 2 crore on Punjab National Bank. Examination of the risk assessment report pertaining …

RBI imposes Rs 25.5 lakh penalty on Jaipur-based Jumbo Finvest (India)
3 years, 10 months ago

RBI imposes Rs 25.5 lakh penalty on Jaipur-based Jumbo Finvest (India)

India TV News  

The Reserve Bank of India on Tuesday said it has imposed a penalty o fRs 25.5 lakh on Jumbo Finvest Limited, Jaipur. In a release, the RBI said it imposed a monetary penalty of Rs 25.50 lakh on Jumbo Finvest for non-compliance with certain provisions of the directions issued by RBI contained in 'Non-Banking Financial Company - Systemically Important Non-Deposit …

Parliament proceedings | Banks wrote off ₹1.15 lakh cr. in nine months of FY21: Anurag Thakur
4 years ago

Parliament proceedings | Banks wrote off ₹1.15 lakh cr. in nine months of FY21: Anurag Thakur

The Hindu  

Banks have written off bad loans to the tune of ₹1.15 lakh crore in the first three-quarters of the current fiscal, the Lok Sabha was informed on March 8. As per RBI guidelines and policy approved by bank boards, non-performing loans, including those in respect of which full provisioning has been made on completion of four years, are removed from …

Enforcement Action Taken against 41 Entities, Rs 61.15 Crore Fine Imposed, Says RBI
4 years, 6 months ago

Enforcement Action Taken against 41 Entities, Rs 61.15 Crore Fine Imposed, Says RBI

News 18  

The Reserve Bank of India took enforcement action against 41 regulated entities by imposing an aggregate penalty of Rs 61.15 crore between July 1, 2019, and June 30, 2020. During the July 2019-June 2020 period, the RBI undertook enforcement action against 41 REs and imposed an aggregate penalty of Rs 61.15 crore. The DICGC raised the limit of insurance cover …

PSBs disburse 52% of the loans sanctioned under emergency credit line guarantee scheme
4 years, 9 months ago

PSBs disburse 52% of the loans sanctioned under emergency credit line guarantee scheme

Live Mint  

State-owned lenders have sanctioned loans worth ₹40,416 crore under the emergency credit line guarantee scheme, out of which, 52% of the credit has already been disbursed, as of June 18, the finance ministry said. “As of 18 June 2020, PSBs have sanctioned loans worth ₹40,416 crore under the 100% Emergency Credit Line Guarantee Scheme, out of which ₹21,028.55 crore has …

PNB collected Rs 268 crore as ATM transaction charges, annual maintenance fee in FY20
4 years, 9 months ago

PNB collected Rs 268 crore as ATM transaction charges, annual maintenance fee in FY20

India TV News  

Punjab National Bank collected around Rs 268 crore as ATM transaction charges and annual maintenance fee on debit cards during 2019-20 fiscal, according to an RTI reply. The public sector lender collected Rs 152.88 crore from customers by levying annual maintenance charges on debit cards. While Rs 115.21 crore was garnered by way of levying a fee on ATM transactions, …

NPAs of public sector banks stand at ₹7.27 lakh crore as on H1FY20: Govt
5 years, 1 month ago

NPAs of public sector banks stand at ₹7.27 lakh crore as on H1FY20: Govt

Live Mint  

New Delhi: The government on Monday said the Non Performing Assets of Public Sector Banks stood at ₹7.27 lakh crore as on September 30, 2019. Union Minister of State for Finance Anurag Thakur also said in Lok Sabha that scheduled commercial banks and select financial institutions have reported frauds to the tune of ₹1,13,374 crore in the first half of …

PNB revises savings bank account, fixed deposit rates. Latest FD rates here
5 years, 6 months ago

PNB revises savings bank account, fixed deposit rates. Latest FD rates here

Live Mint  

Public sector lender Punjab National Bank or PNB has revised interest rates on savings account deposits and fixed deposits or FDs with effect from September 1. PNB latest FD rates from 7 days to 1 year PNB is offering interest rate of 4.5% on 7-45 day fixed deposits and it goes up 5.5% on 46 to 179 day FDs. 7 …

Post-record payout to govt, RBI’s contingency fund plunges to ₹1.96 lakh cr
5 years, 6 months ago

Post-record payout to govt, RBI’s contingency fund plunges to ₹1.96 lakh cr

Live Mint  

The Reserve Bank's contingency fund, useful in fighting any exigency, has plunged to ₹1.96 lakh crore as of June 30, after the ₹52,000 crore excess payout to the government, says the central bank's annual report for FY19. After the payout to the government, "the balance in the contingency fund as of June 30, 2019 was ₹1,96,344 crore compared to ₹2,32,108 …

Post-record payout to govt, contingency fund plunges to Rs 1.96 lakh cr: RBI annual report
5 years, 6 months ago

Post-record payout to govt, contingency fund plunges to Rs 1.96 lakh cr: RBI annual report

India TV News  

The Reserve Bank's contingency fund, useful in fighting any exigency, has plunged to Rs 1.96 lakh crore as of June 30, after the Rs 52,000 crore excess payout to the government, says the central bank's annual report for FY19. After the payout to the government, "the balance in the contingency fund as of June 30, 2019 was Rs 1,96,344 crore …

RBI to transfer record surplus to govt: At 5.5%, central bank's contingency fund level falls to the lowest in at least 19 years
5 years, 6 months ago

RBI to transfer record surplus to govt: At 5.5%, central bank's contingency fund level falls to the lowest in at least 19 years

Firstpost  

An analysis of the annual reports of the Reserve Bank of India shows that at 5.5 percent, the central bank’s contingency fund reserves are presently at the lowest level in at least 19 years. It was based on this formula, the RBI decided to transfer Rs 1.76 lakh crore extra capital to the government, out of which Rs 52,637 crore …

PNB recovers Rs 278 cr as penalty from poor account holders
5 years, 7 months ago

PNB recovers Rs 278 cr as penalty from poor account holders

India TV News  

India's one of the largest public sector bank, Punjab National Bank has collected Rs 278.66 crore from the poor account holders as penalty in the financial year 2018-19 for not maintaining the minimum balance. This came to light after an RTI activist in Madhya Pradesh's Neemuch district, Chandrashekhar Gaur sought information from the PNB on the amount recovered from the …

RBI Imposes Rs 1.75 Cr Fine On Four Private Sector Banks Including PNB For Violation Of KYC Norms
5 years, 8 months ago

RBI Imposes Rs 1.75 Cr Fine On Four Private Sector Banks Including PNB For Violation Of KYC Norms

ABP News  

New Delhi: The Reserve Bank of India on Monday imposed penalty on as many as four public sector banks ranging between Rs 25-50 lakhs for non-compliance of Know Your Customers norms and anti-money laundering standards. Giving details, the RBI said the penalty has been imposed for non-compliance with certain provisions of directions issued by it on Know Your Customer norms …

RBI slaps Rs 2 crore penalty on PNB for violating SWIFT norms
5 years, 11 months ago

RBI slaps Rs 2 crore penalty on PNB for violating SWIFT norms

India TV News  

The RBI has slapped a penalty of Rs 2 crore on Punjab National Bank for non-compliance of regulatory directions with regard to SWIFT operations, the state-run lender said Tuesday. In a regulatory filing, the PNB said the Reserve Bank in a letter dated March 25 has informed the bank about the penalty. "In the matter of violations of regulatory directions …

RBI imposes Rs 11 crore fine on 4 banks for non-compliance in Swift operations
6 years ago

RBI imposes Rs 11 crore fine on 4 banks for non-compliance in Swift operations

Firstpost  

Post the PNB fraud, which came to light in February 2018, the RBI has been tough on banks to tighten all kind of their transactions. New Delhi: The Reserve Bank of India has imposed a total monetary fine of Rs 11 crore on four banks—Karnataka Bank, United Bank of India, IOB and Karur Vysya Bank—for non-compliance of directions on Swift …

RBI imposes ₹11 crore fine on 4 banks for non-compliance in Swift operations
6 years ago

RBI imposes ₹11 crore fine on 4 banks for non-compliance in Swift operations

Live Mint  

The RBI has imposed a total monetary fine of ₹11 crore on four banks - Karnataka Bank, United Bank of India, IOB and Karur Vysya Bank - for non-compliance of directions on Swift messaging software. The Reserve Bank of India has levied an aggregate penalty of ₹40 million on the bank for delayed implementation of four of the Swift related …

RBI imposes Rs 5 cr penalty on four public sector lenders for violation of various banking norms
6 years, 1 month ago

RBI imposes Rs 5 cr penalty on four public sector lenders for violation of various banking norms

Firstpost  

The RBI said the fines are based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers. Mumbai: The Reserve Bank of India on Wednesday imposed penalties of Rs 5 crore on four public sector banks including SBI and Corporation Bank for violation …

Punjab National Bank recovers Rs 16,000 crores from bad loans, Q3 reports profit of ₹246.51 crore
6 years, 1 month ago

Punjab National Bank recovers Rs 16,000 crores from bad loans, Q3 reports profit of ₹246.51 crore

Op India  

Punjab National Bank has posted 7.12 per cent increase in net profit at Rs 246.51 crore for its third quarter ended December 31, 2018, and has brought down its Gross NPA from 18.32% to 16.33% indicating a sharp drop in provisions for bad loans. According to the reports, Punjab National Bank, the second largest government-owned lender has reported a surprise …

Public sector banks recover bad loans worth Rs 2.33 lakh cr in 4 years to FY18: Shiv Pratap Shukla
6 years, 3 months ago

Public sector banks recover bad loans worth Rs 2.33 lakh cr in 4 years to FY18: Shiv Pratap Shukla

India TV News  

During the four years from the financial year 2014-15 to fiscal 2017-18, public sector banks recovered Rs 2.33 lakh crore worth of bad loans, Centre informed Parliament on Friday. In a written reply in Lok Sabha, Minister of State for Finance Shiv Pratap Shukla said, as per RBI data on global operations for PSBs, during the financial years 2014-15 to …

Government-RBI rift: Forcing central bank to give Rs 3.6 lakh cr from cash reserves would jeopardise inflation story
6 years, 4 months ago

Government-RBI rift: Forcing central bank to give Rs 3.6 lakh cr from cash reserves would jeopardise inflation story

Firstpost  

Every year since 2014, the RBI has transferred all the profits it has made to the government It may the first time it has been tried in India, but ‘raiding’ the central bank’s balance sheet and financial resources to meet government spending needs is not uncommon. Now, finance minister Arun Jaitley wants to take Rs 3.6 lakh crore out of …

Punjab National Bank posts Rs 940 crore loss for first-quarter on fraud-related provisions
6 years, 7 months ago

Punjab National Bank posts Rs 940 crore loss for first-quarter on fraud-related provisions

Firstpost  

PNB in February said it had been defrauded by two jewellery groups that raised more than $2 billion credit overseas using fake guarantees. Troubled Punjab National Bank reported its second consecutive quarter of loss, as the country’s second-biggest state-run lender set aside more funds for a massive fraud it disclosed earlier in the year. Mumbai-traded PNB, the fourth-biggest bank by …

PNB reports ₹940 crore net loss in June quarter
6 years, 7 months ago

PNB reports ₹940 crore net loss in June quarter

Live Mint  

New Delhi: State-run Punjab National Bank, which reported a $2-billion fraud in February, on Tuesday declared a June quarter loss of ₹ 940 crore, against a profit of ₹ 343 crore a year ago. Recovery of non-performing assets, cost-cutting measures including shuttering international and domestic branches and better loan margins helped the bank improve on its March quarter performance, where …

Customers pay Rs 5,000cr to banks in FY18 for breaching minimum balance
6 years, 7 months ago

Customers pay Rs 5,000cr to banks in FY18 for breaching minimum balance

India TV News  

As many as 21 public sector banks and three major private sector lenders collected a whopping Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-18, according to banking data. India's largest lender State Bank of India, which suffered a staggering net loss of Rs 6,547 crore during 2017-18, led the pack in penalising its …

Bank fraud: 21 PSBs incurred losses of Rs 25,775 cr in FY 2017-18, with PNB highest at Rs 6,461 cr, says RTI response
6 years, 9 months ago

Bank fraud: 21 PSBs incurred losses of Rs 25,775 cr in FY 2017-18, with PNB highest at Rs 6,461 cr, says RTI response

Firstpost  

The Reserve Bank of India has clarified in the RTI that only those cases of fraud, involving a sum of over Rs 1 lakh, were included in the list. Indore: Twenty-one public sector banks have incurred losses totalling Rs 25,775 crore due to banking frauds in the financial year 2017-18, a Right to Information reply has stated. The Punjab National …

Fraud-hit PNB posts biggest ever quarterly loss of Rs 13,417 cr in Q4; gross NPAs up 18.38%
6 years, 10 months ago

Fraud-hit PNB posts biggest ever quarterly loss of Rs 13,417 cr in Q4; gross NPAs up 18.38%

Firstpost  

Scam hit Punjab National Bank on Tuesday posted largest ever quarterly loss of Rs 13,416.91 crore for January-March period, mainly on account of high provisioning for bad loans. New Delhi: Scam-hit Punjab National Bank on Tuesday posted a loss of Rs 13,416.91 crore for the January-March fourth-quarter period, the biggest ever by any domestic lender, as bad loans surged. In …

Govt banks wrote off Rs 81,683 cr loans in FY17: Finance minister Arun Jaitley tells Rajya Sabha
7 years ago

Govt banks wrote off Rs 81,683 cr loans in FY17: Finance minister Arun Jaitley tells Rajya Sabha

Firstpost  

In a written reply, Arun Jaitley said that writing-off of loans is done for tax benefit as well as capital optimisation and borrowers of such loans continue to be liable for repayment New Delhi: Loans worth Rs 81,683 crore were written-off by public sector banks in 2016-17, Finance Minister Arun Jaitley said on Tuesday in the Rajya Sabha. In a …

Punjab National Bank hit by Rs 11,400-crore fraud: Here’s what we know so far
7 years, 1 month ago

Punjab National Bank hit by Rs 11,400-crore fraud: Here’s what we know so far

Hindustan Times  

On 14 February, state-owned Punjab National Bank disclosed that it has discovered $ 1.77-billion worth of fraudulent transactions at one of its Mumbai branches. Moves to register FIR with CBI FEBRUARY ◼ 4: CBI issues lookout notice against Nirav Modi ◼ 5: PNB informs stock exchanges about the Rs 281 crore fraud involving the Modi group ◼ 7: PNB files …

No minimum balance penalty for first generation bank accounts: Finance Ministry
7 years, 1 month ago

No minimum balance penalty for first generation bank accounts: Finance Ministry

India TV News  

No minimum balance penalty for first generation bank accounts: Finance Ministry The penalty became a contentious issue when it was reported that public sector banks collected Rs 2320.96 crore in FY18 by imposing a fine on customers who do not maintain their minimum monthly average balance. The minimum balance penality became a contentious issue when it was reported that public …

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