Shares of Punjab National Bank on Monday pared early losses and closed marginally down after the Reserve Bank of India said the lender under-reported its non-performing assets by Rs 2,617 crore for the last fiscal.
Shares of PNB dropped 0.85 per cent to close at Rs 63.90 on the BSE. Intra-day, the stock slumped 2.79 per cent to Rs 62.65.
The stock declined 1.01 per cent to settle at Rs 63.80 on the NSE. During the day, it touched a low of Rs 62.60, down 2.87 per cent over previous close.
Over two crore shares of the state-owned lender were traded on the NSE, while more than 15 lakh shares exchanged hands on the BSE.
The public sector lender under-reported its non-performing assets (NPAs) by Rs 2,617 crore for the fiscal year 2018-19, as per RBI's risk-assessment report.
The divergence assessed by the RBI in net NPAs was also Rs 2,617 crore for the fiscal.
Also, the divergence in provisioning for bad loans in FY19 was to the tune of Rs 2,091 crore.
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