Punjab & Sind Bank reports Rs 864-mn fraud to RBI

The following is the key excerpt from the exchange filing by Punjab & Sind Bank to BSE on Saturday: A non-performing asset account, Golden Jubilee Hotels Pvt Ltd, with outstanding dues of 864.00 mln rupees has been declared as fraud and been reported to the Reserve Bank of India as per regulatory requirement

The bank has made 100% provision against the account On Friday, shares of Punjab & Sind Bank closed 5.9% higher at 16.15 rupees on the National Stock Exchange.

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