PNB posts highest ever loss by an Indian bank
State-owned Punjab National Bank (PNB) on Wednesday posted a loss of ₹5,367 crore for the quarter ended March, the highest ever quarterly loss by an Indian bank. The bank had reported a profit of ₹306 crore in the year-ago period. The loss was attributed to a 173% year-on-year rise in the bank's provisions for bad loans to ₹10,485 crore. 