 "During the march quarter, PNB made provisions of Rs 4,901.31 crore for bad loans")
Shares of state-owned Punjab National Bank slumped up to 6.7 per cent to Rs 34.6 on the BSE on Friday after the bank said it has reported loan extended to Dewan Housing Finance Ltd (DHFL), worth Rs 3,688.58 crore, as fraud.
"The bank is reporting Borrowal Fraud of Rs 3,688.58 crore in NPA account of Dewan Housing Finance Ltd. (DHFL) at large corporate branch at Mumbai, Zonal Office," the bank said in a regulatory filing.
The bank, however, had already made provisions for the NPA account amounting to Rs 1,246.58 crore, as per prescribed prudential norms, it added.
