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PNB issued over 41,170 LoUs since 2011: Jaitley
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SME Times News Bureau | 23 Mar, 2018
he central government has said that state-owned Punjab National Bank
(PNB) has issued 41,178 Letters of Undertakings (LoUs) since 2011.
"PNB
has apprised that 7,672 LoUs were issued with validity of 90 days,
20,078 LoUs were issued with validity of 180 days, 11,224 LoUs were
issued with validity of 365 days, and 2,204 LoUs were issued with
validity of more than 365 days," Finance Minister Arun Jaitley informed
the Rajya Sabha.
"Further, PNB has informed that the details
regarding money withdrawn from the foreign branch of the other banks
against each LoU is presently not available as the matter is under
investigation," Jaitley was quoted as saying in a written reply to a
question.
The written reply was given on March 20.
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