NEW DELHI: State-run Punjab National Bank has recognized a minimum of three outstanding homes within the Capital that it plans to monetise to mop up around Rs 1,800-2,000 crore, whilst insisting that it's adequately capitalised to bear the impact of the Rs 11,300 crore fraud.
Sources instructed TOI that with the exception of its previous headquarters in Bhikaji Cama Place, the bank has also recognized a large place of job house in Tolstoy Marg in central Delhi, in addition to its Delhi zonal place of job in Rajendra Place as possible property to be put at the block to boost sources from non-core property.
Properties in other portions of the rustic may also be at the radar but resources mentioned that the lender is not likely to promote a few of its heritage buildings in spaces reminiscent of Chandani Chowk, near Red Fort.
Individual valuation of the homes was once now not right away to be had but a bulk of the price range are anticipated to come back from Bhikaji Cama Place.
On November 4, TOI was once the primary to file about Punjab National Bank's plans to promote its erstwhile headquarters because the bank has moved into a new head place of job in Dwarka, near the airport.
Sources mentioned that monetisation of non-core property, together with surplus real property has been within the pipeline following repeated prodding by way of the government that has been pumping in fairness into public sector banks. While there was speculation about PNB getting contemporary the help of the government, as reported by way of TOI on Thursday, the government needs the bank to bear any that may arise due to the fraud, which allegedly concerned factor of bogus letters of undertaking by way of rogue workers to firms owned by way of diamond billionaires Nirav Modi and Mehul Choksi.
Banks are these days squabbling over the sharing the burden and Punjab National Bank faces the risk of getting to e-book the entire amount on its books in case Reserve Bank of India directs it to take action. Current laws require banks to right away recognise a fraud with the total provision to be made.
Punjab National Bank managing director Sunil Mehta has, then again, comforted workers by way of pronouncing that the impact can be restricted to a marginal erosion within the bank's capital base - to the level of one share point of the core capital. While the bank is to obtain fairness of as regards to Rs 5,500 crore, the bank has also recognized other property, reminiscent of its stake in number one dealership arm Punjab National Bank Gilts and mortgage subsidiary PNB Housing Finance. The bank has already lowered its stake in the home finance arm to a coloration underneath 33%. It is not likely that the bank will pare it beneath 30%, resources mentioned.
Sources instructed TOI that with the exception of its previous headquarters in Bhikaji Cama Place, the bank has also recognized a large place of job house in Tolstoy Marg in central Delhi, in addition to its Delhi zonal place of job in Rajendra Place as possible property to be put at the block to boost sources from non-core property.
Properties in other portions of the rustic may also be at the radar but resources mentioned that the lender is not likely to promote a few of its heritage buildings in spaces reminiscent of Chandani Chowk, near Red Fort.
Individual valuation of the homes was once now not right away to be had but a bulk of the price range are anticipated to come back from Bhikaji Cama Place.
On November 4, TOI was once the primary to file about Punjab National Bank's plans to promote its erstwhile headquarters because the bank has moved into a new head place of job in Dwarka, near the airport.
Sources mentioned that monetisation of non-core property, together with surplus real property has been within the pipeline following repeated prodding by way of the government that has been pumping in fairness into public sector banks. While there was speculation about PNB getting contemporary the help of the government, as reported by way of TOI on Thursday, the government needs the bank to bear any that may arise due to the fraud, which allegedly concerned factor of bogus letters of undertaking by way of rogue workers to firms owned by way of diamond billionaires Nirav Modi and Mehul Choksi.
Banks are these days squabbling over the sharing the burden and Punjab National Bank faces the risk of getting to e-book the entire amount on its books in case Reserve Bank of India directs it to take action. Current laws require banks to right away recognise a fraud with the total provision to be made.
Punjab National Bank managing director Sunil Mehta has, then again, comforted workers by way of pronouncing that the impact can be restricted to a marginal erosion within the bank's capital base - to the level of one share point of the core capital. While the bank is to obtain fairness of as regards to Rs 5,500 crore, the bank has also recognized other property, reminiscent of its stake in number one dealership arm Punjab National Bank Gilts and mortgage subsidiary PNB Housing Finance. The bank has already lowered its stake in the home finance arm to a coloration underneath 33%. It is not likely that the bank will pare it beneath 30%, resources mentioned.
PNB banks on prime real estate to raise Rs 2,000 crore
![PNB banks on prime real estate to raise Rs 2,000 crore]()
Reviewed by Kailash
on
February 24, 2018
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