Loan Fraud
PNB reports INR-24.34-bln fraud by former promoters of SREI group cos to RBI
This story was originally published at 20:59 IST on 26 December 2025
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--PNB: Reported to RBI borrow fraud by SREI Equipment Fin's former promoters
--PNB: Reported to RBI borrow fraud by SREI Infra Fin's former promoters
MUMBAI – Punjab National Bank has reported a borrowal fraud of INR 12.41 billion to the Reserve Bank of India involving the erstwhile promoters of SREI Equipment Finance Ltd., the bank informed the exchanges Friday. The lender has also reported another borrowal fraud of INR 11.93 billion to the RBI involving the erstwhile promoters of SREI Infrastructure Finance Ltd.
The bank has already made 100% provisions for both the frauds, it said in the filing. The public sector bank had reported net profit at INR 49.04 billion for the September quarter. On Friday, shares of the bank closed at INR 120.37 on the National Stock Exchange, down 0.5% from the previous close. End
Reported by Vaishali Tyagi
Edited by Vandana Hingorani
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