New Delhi: Shares of Punjab National Bank on Monday fell over two per cent after the Reserve Bank of India said the lender under-reported its non-performing assets by Rs 2,617 crore for the last fiscal.
Shares of PNB dropped 2.48 per cent to trade at Rs 62.85 on the BSE. The stock declined 2.40 per cent to Rs 62.90 on the NSE.
The public sector lender under-reported its non-performing assets (NPAs) by Rs 2,617 crore for the fiscal year 2018-19, as per RBI's risk-assessment report.
The divergence assessed by the RBI in net NPAs was also Rs 2,617 crore for the fiscal. Also, the divergence in provisioning for bad loans in FY19 was to the tune of Rs 2,091 crore.