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Punjab National Bank to Limit Bad Loans to Rs. 17,000 Cr. in FY18
August 08, 2017
In light of the recent wave of bad loans troubles, public sector Punjab National Bank (PNB) has decided to restrict the bad loans at Rs. 17,000 crores for the financial year 2017-18. In the last fiscal, this limit was set at Rs. 22,000 crores. Thus, the focus is on preventing losses rather than working on recoveries.
PNB Chief Executive Officer and Managing Director Sunil Mehta said that the bank doesn’t need any capital fusion from the government and will raise Rs. 3,000 on its own in FY18.
