State-owned Bank of India (BoI) has an exposure of Rs 200 crore in the Punjab National Bank fraud case and the public sector lender has initiated insolvency proceedings against Nirav Modi firms, said a top official of the bank. It (exposure) was around Rs 200 crore. The Centre has also intervened in the bankruptcy proceedings of Nirav Modi firms in the US to protect the interests of PNB. During the Q4, the bank recovered about Rs 9000 crore of the non-performing assets (NPA) and was hopeful of better results during the current financial year, he added. But during the quarter-Q4 we have recovered around Rs 9000 crore of NPAs that were downgraded during the inspection," he said.

Source: dna May 08, 2018 10:52 UTC