Grievance Status for registration number : DEABD/E/2023/0057816
Grievance Concerns To
Name Of Complainant
Yogi M. P. Singh
Date of Receipt
15/08/2023
Received By Ministry/Department
Financial Services (Banking Division)
Grievance Description
Financial Services (Banking Division) >> Fraud
Department/Bank/Financial Institute : Punjab National Bank
An application under Article 51A of the constitution of India regarding the big defaulters of the Punjab National Bank which is a nationalised bank of the Government of India.
There must be transparency and accountability in the working of a public authority and the Punjab National Bank is inviting the money of the common people so it's safeguard must be ascertained by them. Following big defaulters of the Punjab National Bank deliberately cheated the bank and it took place because of the rampant corruption in the working of the Punjab National Bank. It is obligatory duty of the government to ensure the protection of the interest of the tiny borrowers of the Punjab National Bank because this huge loss will be compensated from them by the corrupt bank staff in cryptic and mysterious way.
Whether any action has been taken by the Punjab National Bank to carry out the recovery of the borrowed money of these big defaulters? What is the current status of the recovery of the borrowed money from these big defaulters?
What action has been taken against the corrupt staff of the Punjab National Bank who are responsible for such a huge scam?
If the Punjab National Bank has closed this chapter then provide the reason of it.
There are several examples of harassment of tiny borrowers of the bank who are being harassed by the bank staff by decreasing the limit of the loan even when they are paying the interest timely and amount is less than the limit of the loan which has been sanctioned by the bank. Such harassment on the large scale by the Punjab National Bank is causing the human rights violations and violations of the consumer rights on the largest scale. Such practises must be stopped by the Punjab National Bank with care and attention. We people of this country expect from the government and the bank to take actions which must setup a precedent in future.
Punjab National Bank admits loan defaults of over Rs 25,000 crore.
The list goes beyond Nirav Modi and Mehul Choksi
Current Status
Grievance received
Date of Action
15/08/2023
Officer Concerns To
Forwarded to
Financial Services (Banking Division)
Officer Name
SHRI SURENDER SINGH (DEPUTY SECRETARY)
Organisation name
Financial Services (Banking Division)
Contact Address
2 ND Floor,Jeevan Deep Building Building, Sansad Marg New Delhi
Email Address
sobo3-dfs@nic.in
Contact Number
01123346785
Reminder(s) / Clarification(s)
Reminder Date
Remarks
15/08/2023
The list goes beyond Nirav Modi and Mehul Choksi who scammed the bank out of Rs 14,000 crore. Kingfisher boss Vijay Mallya also features in the list. He owes Rs 597.4 crore to the bank on the defunct airline's account. Other defaulters include Kudos Chemie Ltd., Chandigarh for Rs 1,301.8 crore, Winsome Diamonds & Jewellery Ltd for Rs 899.7 crore, Jas Infrastructure & Power Ltd., Kolkata for Rs 410.9 crore, Zoom Developers Pvt. Ltd. Mumbai/Indore Rs 410.1 crore.
The All India Bank Employees Association General Secretary CH Venkatachalam said, It is not confined to one bank and all banks have such bad loan accounts. A bulk of defaulters are corporates or big companies and a forensic audit of all should be carried out. Why cannot the bank file criminal cases against the big-time wilful defaulters instead of merely civil suits which can drag on for years?