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| Exchange Received Time 17/02/2018 18:57:46 Exchange Disseminated Time 17/02/2018 18:57:51 Time Taken 00:00:05 | Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, we hereby disclose the following information for your perusal and dissemination.
In the normal course of trade business, our Hong Kong branch has been negotiating export documents against Letters of Credit issued through authenticated SWIFT message by 'Punjab National Bank', after receiving acceptance through authenticated SWIFT message. The applicants for these Letters of Credit includes few of the Corporate Clients associated with the incident of recent fraud happened in Punjab National Bank.
The outstanding exposure involved in the transactions is approximately USD 411.82 Million and the Bank is fully confident to receive the payment from Punjab National Bank.
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