NEW DELHI: Punjab National Bank (PNB) lost Rs 2,800 crore to different cheats last financial year, the administration said on Friday, making it the greatest such failure among all state-claimed banks even before it revealed a charged Rs 12,600 crore misrepresentation this year.
The nation’s second-greatest state-claimed bank in February charged two prominent diamond setters and their organizations of conspiring with rebel bank workers to secure credit from abroad moneylenders utilizing false assurances in the vicinity of 2010 and 2017.
This has been named as the greatest bank extortion in India’s history, however the back service told parliament that even before the misrepresentation became visible, state banks lost an aggregate of Rs 19,533 crore to 2,718 instances of extortion in the year that finished on March 31, 2017.
PNB alone detailed 158 instances of misrepresentation in 2016-17, the service said. PNB did not instantly react to a demand for input. In money related terms PNB was trailed by Bank of India , which lost Rs 2,770 crore and State Bank of India that lost Rs 2,420 crore, the service said.
The service did not determine the idea of the cheats but rather included that the national bank as of late shaped a specialist board of trustees to investigate “factors prompting expanding rate of fakes in banks and the measures expected to control and forestall it”.
The advisory group will likewise investigate the part of reviewers + in checking fakes.
Reuters revealed a month ago that India’s state-run banks announced 8,670 “credit misrepresentation” cases totalling Rs 61,260 crore in the course of the last five money related a very long time up to March 31, 2017. In India, advance misrepresentation commonly alludes to situations where the borrower deliberately tries to betray the loaning bank and does not reimburse the advance.
A parliamentary board of trustees on back said in a write about Friday that it was “to a great degree worried about the current extortion identified in Punjab National Bank, which plainly mirrors that a little gathering of people can control such a colossal bank and bargain it regardless of such well laid out standards, rules, balanced governance.”