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November 2018
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India in Australia: Kohli promises to not start arguments, only finish them        At Least Two Killed, Eight Injured In Blast In Karachi        Centre's New Move May Escalate Feud With RBI Ahead Of Board Meet: Report        'Gaja' crosses coast, rainfall pounds TN, 22 dead        Sabarimala board to move SC, buy time to implement order        Sabarimala board to move SC, buy time to implement order        Sindhu crashes out; Srikanth, Sameer enter quarterfinals of Hong Kong Open        No more chopping and changing till World Cup: Ravi Shastri        Air India eyes Rs 800 cr from sale of over 70 properties        Intel India opens design house costing Rs 1,100 cr at B'luru        US, China see rival visions for entwined Asia-Pacific region        Imran Khan to visit Malaysia next week; likely to seek monetary aid        EC removes Mizoram chief electoral officer after protests        Lankesh murder accused sent to SIT custody in Pansare case        Agri sector needs long-term solutions, loan waiver temporary: Naidu        Top India, China officials hold defence, security dialogue, agree to step up military exchanges        Jailed Om Prakash Chautala Expels Older Son For "Anti-Party Activities"        ISRO Launches Communication Satellite, Has 'Geo-Eye' To Monitor India        US Vice President Mike Pence takes Myanmar’s Aung San Suu Kyi to task over treatment of Rohingya        Sri Lankan Parliament passes no-trust vote against Rajapaksa        
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Main News
PNB's big wilful defaulters' dues fall to Rs 15,354 cr in June
 
New Delhi, Jul 8 (PTI) Dues from big wilful defaulters of Punjab National Bank fell by 0.87 per cent to Rs 15,354.52 crore on June 30 compared to previous month, the bank data has showed.

The data on big wilful defaulters is pertaining to those borrowers who took loan of Rs 25 lakh and above from the public sector lender.

Such borrowers had an outstanding of Rs 15,490 crore at the end of May 2018.

For financial year ended March 2018, the bank's balance sheet had closed with big wilful defaults owing Rs 15,171.91 crore.

PNB suffered a standalone net loss of Rs 12,282.82 crore in 2017-18, as against a profit of Rs 1,324.80 crore in 2016-17.

The major defaulters included Kudos Chemie Ltd - Rs 1301.82 crore; Kingfisher Airlines Rs 597.44 crore; Jas Infrastructure Rs 410.96 crore; VMC Systems Rs 296.08 crore; MBS Jswellers Rs 266.17 crore; Tulsi Extrusion Rs 175.41 crore and Arvind Remedies Rs 158.16 crore.

Among others included ICSA (India) Ltd Rs 134.76 crore; Bhawani Industries Rs 106.66 crore; Indu Projects Rs 102.83 crore; BBF Industries Rs 101 crore. These borrowers took loan from PNB as part of a consortium lending from various banks.

The defaulters who took loan solely from PNB were: Winsome Diamonds and Jewellery - Rs 899.70cr; Forever Precious Jewellery & Diamonds - Rs 747.97 crore; Zoom Developers - Rs 410.18 crore; Apple Industries Rs 248.34 crore; Mahua Media Pvt Ltd - Rs 104.86 crore and Shree Sidhbali Ispat Rs 165.98 crore.

Among others were: Rupana Papers Rs 100.49 crore; Surya Vinayak Industries Rs 133.96 crore;Vishal Exports Overseas Rs 98.39 crore; Ramsarup Nirmaan Wires Rs 148.10 crore; Ramsarup Lohh Udyog Rs 129.34 crore; Rupana Papers Rs 100.49 crore and Rana Alloys Rs 78.90 crore.

The banking sector, particularly state-owned lenders, is grappling with mounting non performing assets (NPAs) or bad loans as also a host of scams and frauds. NPAs in the banking sector stood at Rs 8.31 lakh crore as of December 2017.

The total bad loan write-off by the public sector banks stood at over Rs 1.20 lakh crore in the last fiscal, with SBI bearing the burnt at Rs 40,196 crore, nearly 25 per cent of the total write-offs during 2017-18.

This was followed by Canara Bank (Rs 8,310 crore), Punjab National Bank (Rs 7,407 crore) and Bank of Baroda (Rs 4,948 crore).

Scam-hit PNB, which has suffered a fraud of Rs 14,357 crore allegedly carried out by celebrity jewellery designer Nirav Modi and his associates, witnessed a sharp deterioration in its asset quality with gross loans mounting to 18.38 per cent of gross advances at the end of March 2018, as against 12.53 per cent a year ago.

Net NPAs were also soared to 11.24 per cent against 7.81 per cent year ago.

In absolute terms, the gross NPAs of PNB surged to Rs 86,620 crore in the fourth quarter last fiscal as compared to Rs 55,370 crore in same quarter previous year. Similarly, the net NPA also rose to Rs 48,684.29 crore from Rs 32,702 crore at the end of March 2017.


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INTERNATIONAL NEWS
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 (KARACHI, Nov17, 2018): A bomb killed at least two people and wounded eight others in Pakista
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NATIONAL NEWS
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 (Chennai, Nov17, 2018): Cyclone Gaja ripped through Nagapattinam early Friday uprooting trees
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