 "BSE, NSE, Markets, SENSEX")
The benchmark BSE Sensex ended 144 points lower on Wednesday on profit-booking after banking stocks tumbled on the Reserve Bank of India’s (RBI’s) new norms for recognising stressed assets.
Punjab National Bank (PNB) fell 9.81% after the state-owned lender said it had detected fraudulent transactions worth $1.77 billion (about Rs 113.35 billion).
The RBI abolished half a dozen existing loan restructuring mechanisms and instead provided for a strict 180-day timeline for banks to agree on a resolution plan in case of a default, or else refer the account for bankruptcy.
The benchmark BSE index opened higher at 34,436.98 points on positive domestic and
