Punjab & Sind Bank has recently stated that it has declared its IL&FS NPA account with Rs. 399 crore outstanding loan as fraud and has reported it to RBI.
The bank, in a regulatory filing said that the NPA account Infrastructure Leasing & Financial Services Ltd. with outstanding dues of Rs. 399.31 crore has been declared as fraud.
“Further, the account has been fully provided for as per existing RBI norms,” it added.