PNB buys 3 Audi cars worth Rs 1.34 cr for management amid Covid-19 crisis

Interestingly, the secretaries in the union government and even Cabinet ministers use Maruti Suzuki Ciaz, much less expensive than German car Audi purchased by PNB

At a time when the financial sector is passing through a rough patch and looking at ways to conserve capital, the country's second-largest lender Punjab National Bank (PNB) has bought three Audi cars to ferry its top management.

According to sources, the PNB took the delivery of these high-end luxury cars worth approximately Rs 1.34 crore last month, unmindful of the coronavirus outbreak, subsequent nation-wide lockdown, and its crippling effect on the financial sector as well as the economy.

The annual depreciation on this purchase will be around about Rs 20 lakh, sources said. These luxury cars, sources said, will