Punjab & Sind Bank reports money mule transactions at one branch
This story was originally published at 20:10 IST on 29 July 2025
Register to read our real-time news.Informist, Tuesday, Jul. 29, 2025
MUMBAI – Punjab & Sind Bank Tuesday said it had identified certain transactions at one of its branches as "money mule" activity. The state-owned lender notified the exchanges that the activities had been reported to the relevant authorities.
According to the filing, the transactions had no significant impact on the bank's financial standing. "This clarification is being provided as a measure of transparency and to keep the stakeholders appropriately informed," it said in the filing.
Punjab & Sind Bank's net profit for the June quarter rose sharply on year, primarily because of a rise in other income. The bank's net profit rose more than 48% on year to INR 2.69 billion. Tuesday, shares of the bank closed 0.6% higher at INR 29.68 on the National Stock Exchange. End
Reported by Vidhushi RajPurohit
Edited by Rajeev Pai
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
