As the state-owned lender amalgamated Oriental Bank of Commerce (OBC) and United Bank of India with itself, it also verified appropriation of accumulated losses of Rs 28,707.92 crore from the share premium account of amalgamated bank.
At the same time, PNB has also reported a scam of Rs 3,688.58 crore in NPA account of Dewan Housing Finance Ltd (DHFL) to the Reserve bank of India on July 9. DHFL came to the scene when a report suggested that the company allegedly extracted Rs 31,000 crore out of total bank loans of Rs 97,000 crore.
The bank has already made provisions of Rs 1246.58 crore according to the specified prudential norms.
As RBI initiated bankruptcy proceedings against DHFL due to distressed mortgage in November last year, various agencies including SFIO had also initiated inquiry against the financial service player.
