NEW DELHI: Embroiled in a significant fraud, state-owned PNB on Monday assured all its customers of "enough arrangements" for his or her banking transactions without any inconvenience, and that it has sufficient property to satisfy any liability.
Replying to clarifications sought via inventory exchanges, the Punjab National Bank (PNB) stated: "Bank has enough assets to meet any liability which is decided as per law."
However, it added that realisation of any explicit asset could be determined on the time of need with the approval of board.
The observation adopted media studies that the country's 2nd greatest financial institution used to be in process to monetise its fastened property in the wake of Rs 11,400 crore fraud allegedly perpetrated via defaulter businessmen Nirav Modi and Mehul Choksi.
On studies about regulation enforcement businesses sealing its MCB Brady House branch in Mumbai, PNB stated it's beneath discussion with CBI to allow commonplace operation on the branch during industry hours.
"However, the bank has Core Banking Solution through which any customer of bank can transact at any branch of his convenience. Bank has made enough arrangements to ensure no customer is put to any inconvenience," it stated.
Regarding exchanges' question on a petition in the Supreme Court tough Special Investigation Team (SIT) probe into the fraud, PNB stated it is not aware of such a petition.
The financial institution's stocks continued to tank for a fourth day in a row nowadays.
Replying to clarifications sought via inventory exchanges, the Punjab National Bank (PNB) stated: "Bank has enough assets to meet any liability which is decided as per law."
However, it added that realisation of any explicit asset could be determined on the time of need with the approval of board.
The observation adopted media studies that the country's 2nd greatest financial institution used to be in process to monetise its fastened property in the wake of Rs 11,400 crore fraud allegedly perpetrated via defaulter businessmen Nirav Modi and Mehul Choksi.
On studies about regulation enforcement businesses sealing its MCB Brady House branch in Mumbai, PNB stated it's beneath discussion with CBI to allow commonplace operation on the branch during industry hours.
"However, the bank has Core Banking Solution through which any customer of bank can transact at any branch of his convenience. Bank has made enough arrangements to ensure no customer is put to any inconvenience," it stated.
Regarding exchanges' question on a petition in the Supreme Court tough Special Investigation Team (SIT) probe into the fraud, PNB stated it is not aware of such a petition.
The financial institution's stocks continued to tank for a fourth day in a row nowadays.
PNB says enough arrangements for customers
![PNB says enough arrangements for customers]()
Reviewed by Kailash
on
February 20, 2018
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