Indian banks erase nearly $11 billion in market cap since PNB fraud1 min read . Updated: 20 Feb 2018, 08:23 AM IST
PSU banks continue to bleed after more lenders report exposure to the $1.8 billion PNB fraud, involving billionaire jeweller Nirav Modi
Mumbai: Listed Indian banks have lost nearly $11 billion (Rs69,750 crore) in market capitalisation after the $1.8 billion fraud at Punjab National Bank (PNB) came to light. PSU banks continued to bleed on Monday, after more lenders reported exposure to the scam.
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