India's PNB slides after reporting suspected fraud at Bhushan

MUMBAI - Shares in Punjab National Bank slid after the lender said it had reported a suspected 38 billion rupee fraud in Bhushan Power & Steel Ltd’s account, potentially delaying a sale of the firm’s assets and consequent repayments to creditors.

Shares in state-run PNB - which last year were hit by an alleged fraud of more than $2 billion in the accounts of two jewelry groups - fell as much as 11.5% to a four-month low of 72.40 rupees on Monday. The bank’s share price has been hit especially hard, as analysts said that even if money is recovered from Bhushan, other lenders would question whether PNB should take a full share given the allegation of fraud.

Excellent! Congratulations for the fraudulence ...at par with despicable bunch on earth! Isn’t that an achievement? 😏😏😏

Neresi burası, seyidoğlubaklavaları mı?

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