Shares of Punjab National Bank (PNB) fell almost 10% on Wednesday due to the twin negative news. While the new framework on non-performing assets (NPA) resolution, announced by the Reserve Bank of India (RBI) on Monday night, could mean higher loan provisioning going ahead for the banking industry.
Also, PNB on Wednesday said that it had detected fraudulent and unauthorised transactions at one of its Mumbai branches. The value of the fraudulent transactions is $1,771.69 million (or Rs 110 billion). The stock reaction thus is not surprising as the bank’s profit and overall asset ...
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Also, PNB on Wednesday said that it had detected fraudulent and unauthorised transactions at one of its Mumbai branches. The value of the fraudulent transactions is $1,771.69 million (or Rs 110 billion). The stock reaction thus is not surprising as the bank’s profit and overall asset ...
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 74 A MONTH
Key stories on business-standard.com are available to premium subscribers only.
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MONTHLY STAR
Business Standard Digital +
SMART MONTHLY
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SMART ANNUAL
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