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PNB fraud underscores need for urgent reforms in PSBs: S&P

News and Press Release - Dated:- 5-3-2018 - New Delhi, Mar 5 (PTI) - The recently detected fraud at Punjab National Bank underscores an urgent need for reforms in PSU banks, S&P Global Ratings said today. We expect further losses at India's p .....

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in an extended downcycle. However, tighter regulatory standards combined with generous capital injections should strengthen bank balance sheets, S&P said. S&P said it estimates the ratio of stressed assets in the country's system is more .....

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loyees were charged with issuing fraudulent letters of undertaking, or bank guarantees against which other lenders gave foreign currency loans. The alleged USD 2 billion fraud underscores weaknesses in internal controls and risk-management in India&# .....

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has made good headway in three of these categories. Recognition of stressed assets has notably improved (contributing to a string of losses at public-sector banks). Resolution has benefited from the introduction of a bankruptcy code and could also b .....

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