The state -owned Punjab National Bank reported a fraud on Tuesday 270.57 crore by Gupta Power Infrastructure Limited in Odisha at Reserve Bank.
Credit fraud of 270.57 crore Reserve Bank of India (RBI) has been informed in the non-performing asset (NPA) account of Gupta Power Infrastructure Limited, PNB said in a regulatory filing.
This loan was given by the bank’s station square branch in Bhubaneswar.
The bank has already made provisions 270.57 crore, according to the prescribed prudent criteria.
For the December quarter, PNB posted more than two times in net profit 4,508 crore against 2,223 crore in the same quarter a year ago.
The company’s total income increased 34,752 crore from A year ago, 29,962 crore, PNB said in a regulatory filing in the same period.
Interest income also increased 31,340 crores from 27,288 crores in the same quarter a year ago.
On the asset quality front, the ratio of the bank’s gross non-performing assets was 6.24 percent from 6.24 percent a year ago.
