PNB fraud explained: How India’s 2nd largest PSU bank lost Rs11,400 crore4 min read . Updated: 15 Feb 2018, 06:02 PM IST
An explainer on the PNB fraud and its implications for other lenders and India's banking sector
Mumbai: India’s Punjab National Bank (PNB), the second-biggest public sector lender, stunned the country’s financial sector when it announced this week it had discovered fraudulent transactions worth $1.77 billion (about Rs11,400 crore) at a single branch in Mumbai.
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