After Nirav Modi Fraud, Punjab National Bank Posts Rs 13,417 Crore Loss, Worst By Indian Bank

Things are not looking good Punjab National Bank (PNB) which was hit by the biggest banking scandal in India earlier this year.

The public sector bank has registered a net loss of Rs 13,416.91 crore for the quarter ended March 31.

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This is in place of the net profit of Rs. 262 crore PNB had recorded just a year ago.

For the March quarter, the bank saw its total provisions more than triple from a year earlier to Rs. 20,353 crore. Of that Rs. 7,178 crore were due to the fraud.

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