Thursday , October 21 2021

Why did PNB buy expensive cars worth Rs 1.5 crore for its top management?

Mumbai: Coronavirus (Covid-19): Due to Covid-19 epidemic (Coronavirus Epidemic), the country’s economy is in crisis and companies are taking capital saving measures like reducing employee, unnecessary spending cuts, while the public sector Punjab National Bank (Punjab National Bank) has bought three Audi cars for the movement of its top management. The estimated price of these cars is Rs 1.34 crore. According to sources, PNB has taken delivery of these cars only last month.

These cars will be used to transport the bank’s managing director and two other senior officers.

According to sources, they will be used to carry the managing director of the bank and two other senior officers. According to sources, the annual depreciation of this purchase of the bank will be around 20 lakh rupees. The purchase of these cars was done after the approval of the bank’s board of directors. The important thing is that the central government and many cabinet-level ministers use the Ciaz of Maruti Suzuki made in the country. This is many times cheaper than Germany’s Audi car bought by PNB, while it is public that the fraud of Rs 14,000 crore by Nirav Modi and Mehul Chauksi has affected the bank’s financial condition.

The bank had a loss of Rs 501.93 crore in the October-December 2019 quarter, while the bank had a net profit of Rs 249.75 crore in the same quarter of 2018. During this period, the provision for the bank’s stuck loans stood at Rs 4,445.36 crore. This was Rs 2,565.77 crore in the same period last year. According to government protocol, the post of managing director of the public sector is equal to the additional secretary in the central government. The chairman of State Bank of India, the country’s largest bank, is also in Delhi when he uses Toyota Corolla Altis. In the post, he is considered above the managing directors of all nationalized banks.

In view of the Covid-19 crisis, the Finance Ministry had last week directed all ministries and departments to refrain from launching any new scheme in the current financial year. At the same time, he was asked to use resources judiciously during difficult times. On the other hand, the schemes which have been approved earlier will remain suspended till 31 March 2021 or until further orders. Sources said that apart from managing directors, the bank has four more executive directors to oversee its operations. The purchase of these cars is being routinely described as an activity to replace the cars and for this, the budget approved last year has been used.

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