Gross non-performing asset value at Punjab National Bank 2016-2019
Punjab National Bank's gross non-performing asset value at the end of fiscal year 2019 amounted to approximately 790 billion Indian rupees. Punjab National Bank was at the center of a big money laundering scam involving diamantaire Nirav Modi, who allegedly stripped the bank of over two billion U.S. dollars through malpractices. This is cited as one of the main reasons for the bank's tremendous losses through non-paying assets in the given time duration.
