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Punjab National Bank receives warning letter from markets regulator

Reuters  |  MUMBAI 

MUMBAI (Reuters) - India's state-owned Punjab National Bank (PNB) said on Thursday it has received a warning letter from India's markets regulator for failing to make timely disclosures to the stock exchanges related to a sprawling $2 billion fraud. In a securities filing on Thursday, PNB disclosed that the compliance and monitoring division of the Securities and Exchange Board of India had sent it a warning letter on May 15, stating it had noted delays of 1 to 6 days on the part of the bank in making disclosures related to the fraud - the largest ever in Indian banking history.PNB, India's ...

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First Published: Thu, May 17 2018. 14:34 IST
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