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  1. PNB has potential to raise capital, says Arun Jaitley

PNB has potential to raise capital, says Arun Jaitley

Finance Minister Arun Jaitley on Tuesday said the fraud-hit Punjab National Bank (PNB) has "sound fundamentals" and high potential to raise capital through sale of non-core assets.

By: | New Delhi | Published: March 6, 2018 8:40 PM
Arun Jaitley, pnb, finance minister, Nirav Modi fraud case, mehul choksi, Rajya Sabha, news on arun jaitley, latest news on health Jaitley’s statement comes in the wake of a Rs 12,600 crore fraud in the state-run PNB allegedly by accused diamantaire Nirav Modi and his uncle Mehul Choksi. (IE)

Finance Minister Arun Jaitley on Tuesday said the fraud-hit Punjab National Bank (PNB) has “sound fundamentals” and high potential to raise capital through sale of non-core assets. Jaitley’s statement comes in the wake of a Rs 12,600 crore fraud in the state-run PNB allegedly by accused diamantaire Nirav Modi and his uncle Mehul Choksi. “With a high share of current account and savings account deposits, low cost-to-income ratio, robust credit growth, stabilisation of gross non-performing assets, healthy provision coverage ratio of over 60 per cent and high potential for mobilising capital through sale of non-core assets, PNB too has sound fundamentals and strong growth potential”, the Minister said in a written reply to Rajya Sabha.

“These position PNB for sustained good performance and, going forward, generating positive market sentiment and market capitalisation gains.” PNB had earlier said that it will honour all its bonafide co

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