PNB reports ₹2,434 crore loan fraud against Srei promoters
pre-market1 source ↓written by the desknot a recommendation
- to the RBI
- ₹2,434 crore loan fraud
- linked to Srei
- ₹1,240.94 crore
- to Srei Infrastructure
- ₹1,193.06 crore
- for these loans
- 100% provisions
Punjab National Bank (PNB) has reported a ₹2,434 crore loan fraud to the RBI involving former promoters of Srei Equipment Finance and Srei Infrastructure Finance. The fraud includes ₹1,240.94 crore linked to Srei Equipment and ₹1,193.06 crore to Srei Infrastructure. PNB has made 100% provisions for these loans, based on a KPMG forensic audit pointing to irregularities. 💼
Not investment advice. For informational purposes only.