Goldman Sachs downgrades India's GDP forecast over PNB scam
Investment bank Goldman Sachs has downgraded its forecast for the Indian economy on Tuesday in the wake of the alleged $2-billion PNB fraud. It lowered its real GDP forecast on India for 2018-19 to 7.6% from 8% earlier. Referring to the fraud, the bank said, "Markets and investors are questioning whether the problem is more systemic."