PUNJAB NATIONAL BANK SHARES SLIDE FOR THIRD DAY
1 min readFeb 16, 2018
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Punjab National Bank fell as much as 3.8 percent on Friday, sliding for a third consecutive session as the country’s second-biggest state-run lender continued to reel after saying it had been hit with a $1.77 billion fraud.
Local media reported on Friday that the Reserve Bank of India has directed Punjab National Bank to pay the entire 113 billion Rupees ($1.77 billion) owed tocounterpart lenders, citing bankers aware of the development.
PNB shares were down 1.75 percent by 0402 GMT after sliding 20 percent over the previous two sessions.
($1 = 63.8375 Indian rupees)
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