Punjab National Bank (PNB) has reported a borrower fraud totaling Rs 2,434 crore to the Reserve Bank of India, involving the former promoters of SREI group companies, SREI Equipment Finance Ltd (SEFL) and SREI Infrastructure Finance Ltd (SIFL). PNB stated it has fully provisioned for the outstanding amounts in both cases. The RBI had previously superseded the boards of SIFL and SEFL in October 2021 due to alleged mismanagement, initiating insolvency proceedings.