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Updated on: Wednesday, May 29, 2019, 09:35 AM IST

PNB eyes 11% growth this fiscal

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New Delhi : Fraud-hit Punjab National Bank (PNB) aims to grow its total business by 10.8 per cent and close the current fiscal with to Rs 12 lakh crore on the back of increased focus on CASA mobilisation.

The board of the bank in a meeting held last Saturday, deliberated on the future roadmap for the bank and implementation of the finance ministry’s Enhanced Access & Service Excellence (EASE), PNB CEO Sunil Mehta said.

“The bank will aim at growing by 10.8 per cent year-on-year to aim at total business of Rs 12 lakh crore in FY19. Similarly, the bank has planned 13.7 per cent growth in CASA (current account savings account) to aim for an amount of Rs 1 lakh crore,” he said.

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Over the last few weeks, the bank has focused on changing and improving its systems and processes to reduce customers’ risk and further strengthen the bank, he added. This includes increased intervention of technology, segregation of responsibilities, introduction of new verticals and realignment of processes, he said, adding that the bank’s Mission Parivartan is helping drive this change to refresh business processes and better meet present day requirements, Mehta said.

“The response from the team to step up and face a new challenge as well as our customers who have placed their trust with us has been overwhelming. The ‘business remodelling’ brought alive by changes at PNB is essential to ensure that the bank continues to grow and compete with its peers better,” he further said.

Big wilful defaulters owe Rs 15,171 cr

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New Delhi: Big wilful defaulters owed Rs 15,171.91 crore in loans to PNB at the end of March this year. The data from the bank relates to those wilful defaulters who have taken loans of Rs 25 lakh and above but did not repay despite the ability to do so. The lender has been putting out the names of wilful defaulters since June 2017. The major wilful defaulters include Kudos Chemie – Rs 1,301.82 crore; Kingfisher Airlines – Rs 597.44 crore, VMC Systems – Rs 296.08 crore, Arvind Remedies – Rs 158.16 crore and Indu Projects – Rs 102.83 crore.

ED refuses to share info of seized assets

NEW DELHI: The Enforcement Directorate has refused to disclose under the RTI Act the assets of Nirav Modi and Mehul Choksi seized during its probe into the over $2 billion scam in the Punjab National Bank.

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However, it had earlier made public on Twitter that assets worth Rs 7,664 crore had been attached in connection with the cases involving the uncle-nephew duo of Modi and Choksi. The central agency has also refused to disclose expenses incurred on attempts to bring back the two billionaire diamantaires who had fled the country in the first week of January, days before the PNB approached the CBI reporting the biggest scam in the banking industry in India.

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Published on: Monday, May 07, 2018, 12:06 AM IST
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