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PNB's twitter handle harps on Virat Kohli, sidesteps Rs 114 bn fraud issue

BS Web Team/ 15 Feb 18 | 06:27 PM

Image: @Indiapnb

Punjab National Bank's twitter account is keeping mum on its Twitter handle about the Rs 114 billion fraud that hit it. However, it has been running a 'PNB Digital quiz' and a game on predicting Virat Kohli's runs in the sixth ODI versus South Africa.

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After the fraud, that is worth a third of its market capitalisation now emerged on Wednesday, the bank's shares lost 17% in value, eroding about Rs 70 billion of investor wealth. 

A disgruntled account holder asked if the bank has gone to sleep after popping a few pills. Another quipped, ''Be the early birds not the one in the queue." Yet another angry Twitter user advised,"Replace your useless staff."

Put your digital banking knowledge to test. Participate in #PNBDigiQuiz and stand a chance to win a voucher worth Rs. 500. Read the quiz rules here

— Punjab National Bank (@Indiapnb) February 15, 2018

The Public Sector Bank is neck deep in problems after the RBI said it has to pay up for the losses of Allahabad Bank and Axis Bank too for furnishing fake loan documents. Two of its employees had conducted the fraudulent transactions that helped billionaire jewellery designer Nirav Modi and another apparel house gain a windfall billion dollar loan.

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Company Price Gain (%)
Sun Pharma.Inds.601.656.91
Yes Bank381.752.87
ICICI Bank332.302.17
Axis Bank618.302.15
Reliance Inds.1,210.952.00


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