PSU banks in trouble: Nine banks report net losses of Rs 14,000 crore so far
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On Wednesday, Punjab National Bank , the third largest public lender in the country, shocked After PNB's results, the total losses of nine out of 18 public sector banks who have declared their March earnings till May 17 now stands at a whopping Rs 14,808 crore.
The crisis in the
Aside from PNB
The PSU banking sector has been the biggest drag on the market so far this month with the Nifty PSU Bank index slumping 6 per cent in the past five days.
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The total amount of March quarter losses could still rise with six PSBs scheduled to report their numbers in the coming week with the mother of them SBI yet to come.
Image credit: Indiatimes
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