A former RBI deputy governor explains what PNB should do next

The alleged $1.8 billion fraud unearthed at Punjab National Bank (PNB) has opened up a can of worms.

With more banks, agencies such as Enforcement Directorate, and even the government getting involved, it has snowballed into a banking industry crisis.

PNB is likely to feel the heat in terms of a weaker balance sheet and lower stock price. If it is held liable, then profits made between April 2012 and March 2017 could be hit, a report by international brokerage Macquarie says. This raises...

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