Punjab & Sind Bank reports fraud of Rs 94 crore in NPA account

Punjab & Sind Bank | File

Punjab & Sind Bank on Thursday reported a fraud of Rs 94.29 crore in an NPA account of Supertech Township Projects.

In a regulatory filing, the state-owned lender said it has reported the fraud to the Reserve Bank of India (RBI).

"...it is informed that an NPA Account, viz M/s Supertech Township Projects Limited with outstanding dues of Rs 94.29 crore has been declared as fraud and reported to RBI today as per regulatory requirement," the Delhi-headquartered bank said.

The account has been fully provided for as per the existing RBI norms, it added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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