PNB declares 904 firms as wilful defaulters
State-owned Punjab National Bank (PNB) has declared 904 entities as wilful defaulters with an outstanding loan of around ₹11,000 crore at the end of December. Further, as part of its balance sheet clean-up exercise, PNB plans to sell up to ₹3,000 crore worth of bad loans to asset reconstruction companies (ARCs) in the ongoing fourth quarter of the current fiscal.