Shape up or face closure: PNB chief to loss-making branches
Managing Director of Indian public sector lender Punjab National Bank (PNB), Sunil Mehta, has put 300 branches under investigation and asked all loss-making branches to either shape up within a year or face closure or merger. He, however, clarified that not all of them are loss-making, and some are marginally profit making. PNB has about 7,000 branches across the country.