"The liabilities on account of LoUs/FLCs, which became due up to March 31, 2018 amounting to Rs 6,586.11 crore have been paid by the bank...", the PNB said in a regulatory filing, while announcing its fourth quarter result.
Gitanjali group owner Mehul Choksi and Allahabad Bank CEO Usha Ananthasubramanian along with 13 others were on Wednesday charged by the CBI for alleged cheating and corruption in the issuance of fraudulent letters of undertakings (LoUs) worth Rs 7,080.86 crore from Punjab National Bank (PNB) in the country's biggest banking scam case.
Looking at the bank's Q4 earnings, financial services company Jeferries said in a report that "the need for a bailout by the government is immediate".
The agency also named PNB Executive Directors K.V. Brahmaji Rao and Sanjiv Sharan, and General Managers Nehal Ahad (who dealt in global operations) and Rajesh Jindal in its chargesheet filed in a special CBI court here. The charge sheet also named main accused Nirav Modi's uncle Mehul Choksi as "wanted".
PNB seen posting huge Q4 loss due to $2 billion fraud, NPAs
Earlier this month, PNB said it was targeting growth of over 10 percent in loans and deposits in 2018/19 and that it had strengthened the process of credit underwriting and upgraded its systems to prevent further frauds.
Incidentally, BDO India LLP, the firm engaged by PNB to conduct a forensic investigation into the fraud committed by Modi and his companies, has also shared its findings with the United States bankruptcy court. "After including outstanding amounts under other credit facilities to the above entities, the amount involved now works out to Rs 14,356.84 crore", the bank said in its notes to accounts.
The public sector major on Tuesday had reported a net loss, after closing hours of the stock markets, of Rs 13,417 crore for quarter ended March, against a net profit of Rs 262 crore for the corresponding quarter in 2016-17.
Tighter RBI rules announced in February, which did away with half a dozen loan restructuring schemes, have led to banks reporting a surge in bad loans in the March quarter, and several of them reporting losses.
To ensure proper checks and balances, PNB has gone for a four-way split for loan operations and created a focused off-site centre for monitoring all foreign exchange businesses.
WhatsApp Stories now counts 450 million daily active users, while Instagram Stories has racked up 300 million daily active users. Another upcoming feature allows users to archive their Stories, not unlike Instagram's relatively new archiving feature.
Actors (also) culpable", said American entertainment reporter Roger Friedman , while another who left tweeted , "Gross. Despite the controversy, the film still received a standing ovation from those who stayed until the end.
Officers responded to the home and discovered the apparent abuse when the children's mother, Ina Rogers, called 911 on March 31. She said the "squalor" officers saw while investigating came from her tearing her house apart as she searched for her child.
Such benign tumors often have no symptoms and are often found when people get medical scans for another reason. Separately, a former Playboy model has revived her allegations of a 10-month affair with Trump, also in 2006.
Joe Kaeser, the CEO of Germany's Siemens ( SIEGn.DE ), told CNN his company would not be able to do any new business with Tehran. In a deal first signed in late 2016, Total agreed to operate the South Pars project with a stake of 50.1%.
They fear the little girl is in serious danger, and issued an Amber Alert after the attack took place Monday night, reports KOCO. An Amber Alert says Ahmad may be driving a black Lexus RX300 SUV with paper tags, a 2011 Ford Escape or a navy blue Ford sedan.
Durwood Zaelke, who founded the Institute for Governance and Sustainable Development said that someone is cheating the law. The team said the emissions were most likely due to new, unreported production from an unidentified source in East Asia.
More recently, Amazon launched the " Remember This " feature for Alexa, essentially giving the virtual assistant a memory. Amazon has released a new developer preview that essentially lets Alexa skill developers add a new voice to their skills.
In Niskayuna, voters approved a budget that lifted the local tax haul by 2.64 percent, with 1,186 in support and 525 opposedt. The residents were asked to vote on a $99.3 million budget, which was an increase from last year's budget of $96,818,467.
But just about everyone is pointing to this Reddit post from Roland Camry as the original source of the Laurel-Yanny conundrum. If the volume is turned down low , there's a higher chance one might hear " yanny " because the bass is not as prominent.
How to watch Marseille v Atlético Madrid
Gabi scored late on to confirm the result in a match that Diego Simeone's side controlled easily throughout. Griezmann scored twice as Atletico beat Marseille 3-0 last night to lift the Europa League .
Britain renationalises East Coast rail line
She said: "Three times in less than a decade, the government has been forced to intervene in the East Coast rail franchise". Virgin Trains East Coast (VTEC) is the third private operator to fail to complete the full length of a contract.
Weir Group (WEIR) Stock Rating Reaffirmed by Deutsche Bank
Seekingalpha.com's article titled: "What A Good Deal Looks Like" and published on May 11, 2018 is yet another important article. A value of 50-75 would indicate a very strong trend, and a value of 75-100 would signify an extremely strong trend.
David Moyes Leaves West Ham
Moyes said: "I could have joined a Premier League club during the season here, when I was West Ham manager". Now the marketing campaign is full, we really feel that it's proper to maneuver in a special path'.
Laurel or Yanny? What we heard from the experts
Chico, Calif .- An audio clip is tearing the internet apart, with people fighting over whether they hear " laurel " or " yanny ". Pristine studio headphones will give you a Laurel , while a tinny 2015-era cell phone is probably going to give you Yanny .
David Tepper finalizes deal to buy Panthers, report says
City leaders say they're looking forward to working with the new owner of the Queen City's National Football League team. Tepper gave away slightly less than $1.2 million worth gift cards (nearly 12,0000 cards) to victims of Hurricane Sandy.
Vodafone CEO Vittorio Colao to step down in October
The average revenue per user of the company declined by 26 per cent to Rs 105 from Rs 142 during the quarters under review. India's objections to jurisdiction and the company's claims are scheduled to be heard together in February 2019.
Robinson Cano Suspended from 80 Games for Drug Policy Violation
Robinson Cano is out six-to-eight weeks after he was hit by a pitch throughout Sunday's recreation towards the Detroit Tigers . Cano's acceptance of the suspension is surely tied to his injury, which may keep him out for a big chunk of that 80-game ban.