PNB clarification: Rs 942 cr not new fraud but recall of credit limits

PNB on recovery path

PNB clarification: Rs 942 cr not new fraud but recall of credit limits

The amount of Rs 942 cr were the regular limits sanctioned to Geetanjali Group under consortium lending, and were standard credit exposure at the time of detection of the fraud. Now, this exposure is being added to the existing fraudulent amount. This amount has nothing to do with any new fraudulent LoUs/LoCs.

Author: sarkarimirror