Fraud Hit PNB Posts Biggest Quarterly Loss of Rs 13,417 Crore in Fourth Quarter

With regards to provision made for the loss incurred on account of Nirav Modi fraud, the bank said it provided for Rs 7,178 crore, 50 per cent of the total amount of Rs 14,356 crore in the fourth quarter of 2017-18. The remaining amount will be covered in the three quarters of the current fiscal year.

from Top Business News- News18.com https://ift.tt/2wGItGC