The Punjab National Bank Scam is worth Rs 11,400 crore. While it is being dubbed as one of the biggest scams in banking history, one must also note that the probe into it is also a big one. There are multiple agencies probing into the case. Sources in the government say that they are leaving nothing to chance and want to get to the bottom of it.
Fitch Ratings placed Punjab National Bank's Viability Rating of 'bb' on Rating Watch Negative (RWN), following large fraud reported by PNB. Fitch will resolve Rating Watch once more clarity emerges on extent of control failures & the impact on PNB's financial position.