Punjab National Bank (PNB) will get its due share after fugitive businessman Vijay Mallya's assets are sold to recover ₹5,646 crore of the loan amount due to a consortium of banks, its Managing Director SS Mallikarjuna Rao said on Saturday. PNB doesn't have much loan exposure in Kingfisher, but we will get our due share," he said. The PNB chief said that other banks have more loan exposure than PNB and banks are gradually recovering their amount. In 2019, lenders led by SBI, had sought restoration of Mallya's properties attached by the investigative agency under the provisions of PMLA. Other banks that have exposure to the defunct airline include Punjab National Bank ( ₹800 crore) and IDBI Bank ( ₹800 crore), Bank of India ( ₹650 crore), Bank of Baroda ( ₹550 crore), and Central Bank of India ( ₹410 crore).

Source: Mint June 05, 2021 15:30 UTC