Fraud-hit PNB looking to sell real estate assets worth Rs 50 bn: Source


Fraud-hit Punjab National Bank is considering monetising its real estate assets, including a giant office space in New Delhi worth an estimated Rs 50 billion ($778.63 million), a bank source with direct knowledge of the matter told Reuters. The bank was looking to expedite the process after it said this week it has been hit with a $1.

77 billion loan fraud, the biggest bank scam in the country's history. The bank would look to sell assets through a tendering process. "We are in talks with interested parties," said.

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