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PNB says fraud amount can rise by Rs 1,330 crore to Rs 12,700 crore

On February 14, the bank had reported unauthorized transactions worth approximately Rs 11,400 crore after it had detected some fraudulent transactions in its Brady House branch.
In yet another shocker to the country, Punjab National Bank has revealed that the quantum of the fraud it reported a couple of weeks ago could increase to Rs 12,700 crore, up from Rs 11,400 crore.

“In continuation to our filing with Stock Exchanges on 14.02.2018, we have to inform that quantum of reported unauthorized transactions can increase by USD 204.25 million (approx),” PNB said in a late-night filing to the stock exchanges.

On February 14, the bank had reported unauthorized transactions worth USD 1.77 billion (approximately Rs 11,400 crore) after it had detected some fraudulent transactions in its Brady House, Mumbai branch.

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