PNB loses 20% value in 2 days after $1.7 bn Nirav Modi fraud
Punjab National Bank has lost more than 20% of its market capitalisation in just two days after it detected a $1.77 billion-worth fraud linked to jeweller Nirav Modi. The market value of the bank eroded by over â¹8,000 crore to reach â¹31,132 crore on Thursday. PNB has said it has the "capability and capacity" to recover from the fraud. 