Punjab National Bank is hiring detectives. Find out why?

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The deceit-hit Punjab National Bank has drew out the applications to impanel the detective bureaus to pitch out the location its imperceptible borrowers. This is to complement the undeterred efforts in order to reclaim the bad loans which have hiked up to whopping Rs 57,519 crore at December end.

The PNB has also recoursed to ‘Gandhigiri’, in its ceaseless efforts to compensate NPAs, where it’s staff wish to ‘name and shame’ blemishing the borrowers to reclaim up to Rs 150 crore worth awful loans every month.

The Headquartered zone of PNB in Delhi has claimed to be at the recipient’s end of worth Rs 13,000 crore fraud, roping in the diamond merchants Nirav Modi and Mehul Choksi.

It claims to summon the detective agencies with an aim to, “significantly supplement efforts of the field officials in recovering bank’s dues in NPA accounts by utilising services of the detective agencies”, it grieved.

The prejudiced parties have been asked to fill up the file applications along with the relevant documents till May 5, 2018.

All the NPA accounts including sub-standard, doubtful and loss category would be allocated to these detective agencies for flocking and stacking up the information required by the bank.

The detectives will be engaged into the job of hunting down the borrower(s)/co-borrower(s)/guarantor(s)/ mortgagor(s) in and outside India, inclusive of their legitimate heirs who are either untrackable or do not reside at the given addresses by them.

The acclaimed agencies are required to pitch in the recent necessary details of the borrowers like the latest address, occupation, income source, details of all their belongings and many more.

In addition to this, the agencies will also hunt down the necessary details of  the defaulters’ and their legitimate heirs’ bank accounts.Perceiving the intensity of the complication in the case, the agencies will be allocated 60 days to release the report which can also extend up to 90 days in case of an emergency.

PNB, country’s second largest state-run lender following  SBI, had been known to gross non-performing assets (NPAs) of Rs 57,519 crore or 12.11 percent of gross advances till December 2017.

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