'Name and shame' campaign: Under 'Mission Gandhigiri', PNB targets Rs 150 cr/month recovery from defaulters
The state-owned lender, which has been at the receiving end of the over Rs 13,000 crore fraud involving diamond merchants Nirav Modi and Mehul Choksi, today said it is intensifying the initiative, amid rising concerns over non-performing assets in the banking system. Under 'Mission Gandhigiri', a recovery mechanism launched by PNB in May 2017, a team visits the borrower's office or residence and sits there silently
Punjab National Bank said due to its aggressive stance towards wilful defaulters, 150 passports have been impounded over the past few months and the bank has also lodged 37 FIRs against defaulters. Image source: PTI