RBI Claims PNB Wrote off Rs 8,500 Crore, Bank Denies Allegations

Punjab National Bank denies to have written-off even a “single paisa”.

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Representational image of Indian currency. (Photo: Reuters)

Replies to Right to Information (RTI) queries from The Indian Express show discrepancies between the data maintained by the Reserve Bank of India (RBI) and that supplied by individual banks.

While RBI maintains that Punjab National Bank (PNB) wrote off over Rs 8,500 crore as non-performing assets (NPAs) in the last two years, the bank denies writing off a “single paisa” during this period.

Bank of India, on the other hand, claims its write-off in the last two years has been more than Rs 17,700 crore while the RBI puts the write-off figure during this period at Rs 2,567 crore – less than 15 percent.

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