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

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

BS Web Team 

pnb fraud
Image: @Indiapnb

Punjab 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 'Digital quiz' and a game on predicting Virat Kohli's runs in the sixth ODI versus South Africa.

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."

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 and another apparel house gain a windfall billion dollar loan.


First Published: Thu, February 15 2018. 18:27 IST
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