The amount owed to PNB by large, deliberate defaulters declined by 1.8% to Rs 151.75 billion

Obligations of large, intentional defaulters of the Punjab National Bank (PNB) hit by scams fell 1.8 percent in the previous month to Rs 151.75 billion, according to the bank's data.

Large deliberate defaulters are those who have taken over loans of more than Rs 2.5 million from the bank.

Such borrowers had an outstanding amount of 153.55 billion Rs at the end of June this year.

Among major defaulters who took loans from PNB alone, Winsome Diamonds & Jewelery Rs were 8.99 billion; Forever Precious Jewelery & Diamonds Ltd Rs 7.47 billion; Son-developers Rs 4.10 billion; Shree Sidhbali Ispat Rs 1.65 billion; Ramsarup Nirmaan Wires Rs 1.48 billion; S Kumar Nationwide Rs 1.46 billion.

Including Ramsarup Industrial Corporation Rs 1.33 billion; Ramsarup Lohh Udyog Rs 1.29 billion; Mahuaa Media Rs 1.04 billion; KG Corporation Rs 0.98 billion and Vishal Exports Overseas Rs 983 million.

Those who lent money through a consortium that borrowed from various banks were Kudos Chemie Rs 13.01 billion, Kingfisher Airlines 5.97 billion Rs; Coat Infrastructure and Power Ltd Rs 4.10 billion; VMC Systems Ltd Rs 2.96 billion; MBS Jewelers Rs 2.66 billion; Arvind Remedies Ltd Rs 1.58 billion; ICSA (India) Ltd Rs 1.34 billion.

Of the others included: Bhawani Industries Rs 1. 06 billion; Tulsi Extrusion Rs 1.75 billion, Vibha Agrotech Rs 1.25 billion; Indu Projects Rs 1.02 billion; BBF Industries Rs 1.01 billion and Rupana Paper Mills Rs 1.01 billion.

Punjab National Bank, which was hit by a scam of more than Rs. 140 billion previously discovered in February, allegedly carried out by jeweler Nirav Modi and its partners, recorded a net loss of Rs 9.40 billion in the first quarter of June of the current fiscal year.

In 2017-18, the lender booked a net loss of Rs 122.83 billion – the highest ever ever by a bank in India, due to rising bad loans and a huge amount of parking to cover losses due to the scam.

The bank recovered from bad loans amounting to Rs 77 billion in the first quarter ending June 2018-19, as a result of the reversal strategy it had adopted last year.

The gross NPA & # 39; s or bad loans from the bank amounted to Rs 828.89 billion at the end of June – 18.26% of the gross proceeds.

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