Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2019
Bhushan Power & Steel fraud disclosure
On 16 July 2019, the bank disclosed that it had detected an alleged fraud involving Bhushan Power & Steel Limited. The reported amount was approximately ₹238 crore.
1987
Sethia fraud
Punjab & Sind Bank was involved in the Sethia fraud matter. Following the case, the Reserve Bank of India directed the transfer of the bank’s London branch to Bank of Baroda in 1991.