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PNB writes off Manjunath's loan

Our Bureau

New Delhi , Dec. 1

PUNJAB National Bank has written off the entire education loan amount of Rs.1.73 lakh outstanding in the name of S. Manjunath, the Indian Oil Corporation official who was murdered on November 19.

The bank has also decided to remit insurance claim of Rs 1.50 lakh to the family members after settlement by LIC. Manjunath had availed himself of the education loan of Rs 1.50 lakh from PNB's Chatta Meel Lucknow branch for studies at IIM Lucknow. He had been regular in paying loan instalments and had repaid bank dues regularly till he met with the tragedy.

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