Punjab National Bank declares its Rs 3,688 crore exposure to DHFL as fraud

The state-run lender said the company was being reported as a fraudulent account to the Reserve Bank of India. Under the rules set by the banking regulator 100% provisioning is required in fraudulent accounts spread across a period of four quarters. The lender has so far made a provision of Rs 1246 crore in the account.

from Banking/Finance-Industry-Economic Times https://ift.tt/3edpV1s